With traditional student financing options, lenders only serve students at the top of the credit spectrum, leaving behind a large portion of students. The only other options are to turn these students away or put them on an internal payment plan—which costs a lot of time and money to manage, puts all of the risk of student defaults on the school, and reduces the amount of up-front money the school receives.
With Climb, typically a portion of the tuition—or tuition advance—is sent to the school, recourse-free, when a student starts class. The rest is deferred and sent to the school once that student starts paying back their loan—ensuring that schools are invested in making their student successful.