Top U.S. Health Systems Commit More Than $100M to Tackle Healthcare Staffing and Student Debt Crises

Boston Children's Hospital, Memorial Sloan Kettering, MyEyeDr., Northwestern Medicine, Novant Health, OhioHealth, VCA Animal Hospitals, and more offer early job commitments and a combined $101.2M+ in student loan repayment for critical healthcare roles.

BOSTON, July 9, 2025 /PRNewswire/ -- Top U.S. health systems are taking bold, employer-led action to combat two converging crises: student debt and clinical staffing shortages. Together with Clasp, the first retention-driven recruitment platform, hospitals are launching a new model for financing education—one that locks in talent early, rewards retention, and makes healthcare careers more accessible.

A new generation of healthcare professionals is entering the workforce with staggering debt—often exceeding $100,000 for roles like physical therapists, occupational therapists, and physician assistants, and nearly $150,000 for newly graduated veterinarians. These burdens are only expected to grow as more roles shift to advanced degree requirements: physical therapists now need a doctorate to practice, nurse anesthetists will soon face the same, and states like New York are mandating additional credentials like the "BSN in 10" rule for nurses.

Clasp's model flips the script on traditional student loan benefits. Clasp programs enable employers to commit early—often while students are still in school—and defer actual repayment until after retention milestones. That structure stretches every dollar further, with many employers on Clasp's platform offering up to $75,000+ in tax-advantaged loan repayment over three years. The result: deeper loyalty, lower turnover, and more sustainable pipelines for in-demand roles like nurse anesthesia, radiologic and surgical technology, respiratory therapy, physical therapy, and veterinary medicine.

Systems leading the charge include Boston Children's Hospital (ranked the #1 pediatric hospital in the country), Memorial Sloan Kettering (the #2 cancer center), MyEyeDr. (a leading national eye care provider), Northwestern Medicine (Illinois' top-ranked hospital system), Novant Health (a top 40 U.S. health system), OhioHealth (central Ohio's largest health system), and VCA Animal Hospitals (leading national veterinary group). They join Clasp's growing network of early adopters building stronger futures—for students and the healthcare workforce alike.

"At Novant Health, we're working to build a healthier future for all – from patients and communities to our own clinicians and team members. We believe the workforce of tomorrow depends on how we support students today," said Sebastien Girard, Senior Vice President and Chief People Officer, Novant Health. "As part of our recruitment efforts targeting new nurse anesthetists, we've partnered with Clasp to repay a significant portion of their student loans and hope to expand this benefit to other positions in the future. By relieving financial burden upfront, we're building loyalty from day one—and setting a new bar for what it means to invest in our future teams."

To expand access and impact, Clasp has also secured up to $100 million in no-cosigner education loan funding—helping students from low- and middle-income backgrounds pursue high-impact healthcare careers without barriers.

"This isn't just about offering a benefit—it's about rewiring how healthcare systems attract and retain talent," said Tess Michaels, CEO of Clasp. "These leaders aren't just responding to a crisis. They're shaping the future of work in healthcare—and setting a new standard that others will follow."

This Spring, a healthcare system with >30,000 employees fully replaced their sign-on bonuses for one of their hardest-to-hire clinical roles and was able to hit 130% of their applicant goal in just 20 days offering student loan repayment. Across Clasp's partner network, early data shows a potential 440% return-on-investment, with employers saving up to $5 million in year one by utilizing as an alternative to sign-on bonuses, reducing contract labor spend, and cutting turnover—down to as little as 5% in some roles on Clasp's platform.

Building A Stronger Future, Together
Momentum is building. Health systems nationwide are turning to this new model as a smarter, more sustainable way to build high-performing clinical teams—and students are responding.

"If we want healthcare to be stronger tomorrow, we need to invest in the people who power it today," Michaels added. "This model works because it starts earlier, goes deeper, and delivers real, lasting results."

Students currently enrolled in eligible programs can learn more and apply at clasp.com.

Healthcare employers ready to lead—not follow—can reach out to [email protected] to join the movement today.

About Clasp
Clasp is a first-of-its-kind platform connecting education and employment through retention-driven recruitment. Since 2018, Clasp (formerly Stride Funding) has helped over 10,000 students access outcomes-based financing, career pathways, and student loan repayment. By enabling healthcare systems to sponsor loan repayment tied to early job commitments, Clasp addresses two major challenges: student debt and the clinical talent shortage. Clasp also publishes the School Deserts Index, a national report featuring state-by-state rankings of gaps in clinical training programs, offering actionable insights for workforce planners. Backed by up to $100M in funding capacity—with no co-signer required—Clasp supports students at the moment they need it most. Learn more at clasp.com.

Media Contact
Morgan Viehman
Sr. Director, Brand & Marketing
[email protected]

SOURCE Clasp