Dec 08, 2022, 08:37 ET
LIFT is a flight training school owned by Republic Airways, a codeshare partner for American Airlines, Delta Air Lines and United Airlines
Innovative program includes tuition subsidies provided by LIFT paired with an outcome-based loan repayment program
NEW YORK, Dec. 8, 2022 /PRNewswire/ -- Outcome Group Inc (Outcome), an outcome-based education finance company, announces a partnership to build and manage an outcome-based loan program in coordination with Leadership in Flight Training (LIFT) Academy. LIFT prepares students for careers in aviation, including commercial airline pilots and aircraft maintenance technicians. LIFT is owned by Republic Airways, a codeshare partner operating more than 900 daily flights on behalf of American Airlines, Delta Air Lines, and United Airlines.
Outcome-based loans are a terrific option for LIFT students as they feature a progressive payment structure designed to remain affordable throughout graduates' careers and to directly align repayment costs with graduates' success. Under the terms of the loan, graduates only repay their loan obligation if they earn above a predetermined level of income after leaving school and monthly payments vary with income. As a result, borrowers pay less early in their career and more as their income grows, ensuring their financial obligations are always affordable.
In addition to the progressive repayment structure, LIFT students seeking to become commercial airline pilots can also take advantage of tuition subsidies provided by Republic. Those students opting for the subsidies could see their education costs reduced in exchange for a commitment to fly for Republic at least five years. Republic operates a fleet of more than 220 state-of-the-art Embraer E170 and 175 aircraft.
"This partnership leverages the power of outcome-based lending to benefit students, academic institutions, employers, and consumers. As key sectors, including aviation, continue to face skilled-labor shortages, outcome-based lending programs can be combined with high-quality training programs to provide students with a pathway to career success and financial independence while allowing employers to meet their need for skilled workers," said Outcome Chief Executive Officer Jim Courtland. "We are thrilled to work with LIFT to get this program off the ground!"
"We believe our commercial pilot training is on par with the very best in the world," said Ed Bagden, Director of Operations and Academic Programs. "It's innovative, intense and successful; our graduates outperform their peers. By partnering with Outcome, we're creating financing options that are just as innovative. Outcome-based repayment plans are a cost-effective financing option and we are increasing its value by subsidizing tuition costs. We are thrilled to be able to partner with Outcome to offer our students these options."
Outcome Group is an education finance company specializing in outcome-based financing solutions. These novel financial tools link the amount a student pays for their education to that student's future earnings. They help schools attract and retain students by making the benefits of education more transparent and the costs of education more affordable and accessible, regardless of an individual's financial circumstances.
Outcome leverages state-of-the-art origination and underwriting capabilities to provide students with cost-effective financing. Outcome partners directly with schools and educators to design, implement, manage, and fund these outcome-based financial solutions.
Leadership In Flight Training (LIFT) Academy is a U.S.-based commercial aviation pilot training school owned by Republic Airways. Headquartered in Indianapolis, LIFT revolutionizes commercial aviation training utilizing state-of-the-art, eco-friendly training technologies and systems to educate future aviators. Students receive instruction from experienced pilots, under FAA and industry standards, with the most advanced equipment and curriculum that combines flight, flight simulator, online and in-classroom training.
LIFT Academy students train on a fleet of advanced new aircraft and flight simulators produced by Diamond Aircraft Industries, including the DA40 single-engine, the DA42 twin-engine aircraft and the DA20 single-engine, as well as Diamond Flight Simulation Training Devices (FSTD) built to achieve the most realistic cockpit simulation environment. LIFT offers its graduates a defined pathway to a pilot career at Republic Airways.
Head of Strategic Partnerships
For LIFT Academy, please contact [email protected].
SOURCE Outcome Group
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