Climb Credit Launches New 0%-interest Payment Solutions to Help More Learners Access Career Training and Reskilling Programs
Nearly 70% of learners would not attend, or would wait to attend a program without financing options.(1) For the 10MM+ people unemployed in the U.S. looking to improve their employability, waiting is not an option.
NEW YORK, Jan. 27, 2021 /PRNewswire/ -- Climb Credit announced today the launch of two new 0%-interest payment options for people who are pursuing career training, reskilling, or continuing education programs. Climb's new 'Pay as you go' plan—which spreads tuition payments over the duration of the program—along with a new 0% interest loan have been added to the Climb career training payment suite at a time when millions of Americans need access to training to upskill, reskill, or move to a new career path. This launch underscores the company's evolution to a comprehensive lending and payments platform for higher education.
"The career-training education market is underserved by financial services, and the options that exist often leave out the people who need financing the most—those unemployed and underemployed." said Angela Ceresnie, CEO of Climb Credit. "Through serving this market with accessible, affordable loans for the last 5 years, we recognized that people attending career training programs have a wide variety of financial backgrounds and circumstances, and therefore need a variety of ways to pay—which is why launching these new solutions is so exciting for us."
Most recently, Climb introduced a Pay-as-you-go option which allows learners to pay over the duration of the program, and doesn't include the approval requirements of a standard loan. Providing students and schools with this payment option increases accessibility for those who might not otherwise choose—or be approved for—a traditional loan. This option also carries the benefit of allowing learners to avoid interest and loan fees, and to pay over time rather than paying everything up front—a crucial need for many American households that lost wages during the 2020 Covid-19 pandemic.
"In this economy, our students are more thoughtful about spending their savings at this time, so including the Pay-as-you-go option has been extremely helpful to ensure people are confident when enrolling." said Lisa Nuessle, General Manager at Ironhack. "Helping students navigate all of the payment options used to take a lot of time, but Climb also made the user experience very clear so students could easily navigate and choose the option that was best for them."
Enrollment is projected to increase by a median of 25% year-over-year2 at the career training and professional education programs that Climb supports. This increase in demand is no surprise given that career stability is top of mind for millions of Americans—illustrated by the fact that 42% of employees have pursued training on their own after the coronavirus outbreak.
Both new options include a simple set-up for a seamless addition to the school's financial aid offerings. These new learner-friendly options are available at a number of Climb partner programs including Zollege, Array School, and others. The options will broadly be made available to any programs that pass Climb's partner diligence process—a review conducted to ensure that education providers in the Climb network are providing career-advancement results to their learners. To learn more about these options or to become a Climb-approved school partner, click here: https://climbcredit.com/partners
Climb (NMLS# 1240013) is an innovative student payment platform that makes career creation and transformation more accessible, affordable, and accountable than ever before. Driven by a mission to empower individuals to unlock their career potential – no matter what their credit profile – Climb identifies programs and schools with a demonstrated ability to improve the earnings of their graduates. Then they provide learners with financing options that are priced and structured to meet the unique needs of those seeking career elevation and increased earning power. Recognizing the dynamic and diverse nature of an economy in rapid change, Climb partners with schools that teach everything from cybersecurity to healthcare training, heavy machine operation to data science, and culinary arts to coding. While some colleges are struggling to meet the real-world needs of their students, Climb and its partner schools are committed to an inspiring practicality that brings real career results as individuals Own Their Next chapter. For more information, visit https//climbcredit.com or follow @ClimbCredit on Facebook, Twitter and Instagram.
1 Based on a 2018 survey of Climb website visitors. 2 Based on a survey of over 45 schools who collectively enroll over 40,000 students annually.