credit report

How to Strengthen Your Credit Score

When applying for a private student loan — or, while we’re at it, a mortgage, auto loan, or credit card — a major factor which could impact your approval decision is your credit score. Improving your credit score can affect not only whether you’re approved for a loan but the interest you’re charged as well; it might also be taken into account by insurance companies, landlords, cell phone companies, or potential employers, so it’s important to keep this number as high as possible for a better chance at lower rates or even a job offer. And we at Climb want to help future borrowers feel confident when filling out our student loan applications. Below, we have a few ways you can maintain a strong credit score in order to increase your chances of approval or a lower interest rate!

Check your credit report

The first step toward improving or maintaining your credit score is, of course, figuring out what it is. In doing so, you will not only have a better idea of where you stand, but you can also check for any inaccuracies or unknown factors which may be erroneously impacting your credit. One place to view the details used to calculate your score is AnnualCreditReport.com.

Plus, if you’re interested in checking out what the score itself is, many banks and credit card companies offer this information as a service. You can call, check your statement, or see if the score is viewable through their online banking.

Pay bills on time

Then, once you get familiar with your current credit situation, you’ll want to get in some habits that will help keep your score as high as possible. Paying bills on time is one of the most important habits you can practice, and luckily there are ways to help make it easier for you. You can connect your bank account to ACH and schedule automatic payments, so you don’t have to worry about procrastinating or missing a due date because you forgot about it. Or, if you don’t want to connect your bank information, you can simply schedule reminders for yourself to pop up every time you need to pay a bill.

Reduce your debt

Reducing your debt is another way to secure a good credit standing. Yes, we know, this is much easier said than done. But even small increments help, and the payoff is decidedly not small. The internet is filled with stories of people who paid off thousands of dollars in debt and advice for how to do so yourself. Figure out what’s most effective for you and keep working at it.

Stay below your credit limit

Showing you’re not spending beyond your means each month can also give your credit a boost. So, make sure you stay below the limit on your credit cards. Don’t whip out a card for every purchase (or maintain a budget to keep all spending to a minimum). If you really need to, you can also increase the limit on your credit card — as long as you don’t subsequently increase your spending in proportion to it.

Raising a credit score is going to require lots of time and patience. But following the above guidelines will set you on the right track to making even small improvements. And then, sticking to these habits will help you maintain that good credit standing!

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What to Expect: Realistic Outcomes

Climb’s Comprehensive Access Solution can offer a strategic balance of increased enrollments and upfront cashflows compared to traditional lenders. While no financing solution guarantees 100% collection, our data-driven approach maximizes both upfront cash and long-term repayment rates.

Typical Partner Results:

  • 15-30% of students qualify for Climb Loans with upfront tuition delivered to the school shortly after course start
  • 45-60% of students qualify for 0% APR* payment plans
  • Enrollment increases of 20%+ reported by partner schools**

**Results vary by school and student demographics. This represents performance reported by individual school partners and should not be considered a guarantee of your specific outcomes.

The bottom line: CAS is designed to maximize your net tuition recovery while eliminating the administrative headaches of student financing.

Maximizing Your Results

Pro Tip: Schools that require student deposits and set up automatic payments during enrollment see significantly better repayment performance across all financing options. These simple steps can meaningfully improve your outcomes.

FAQs

We use a comprehensive, AI-driven assessment that goes beyond traditional FICO scores to better serve career training students:

  • Climb Credit Score: Over 150 data points specifically designed for vocational students
  • Debt-to-Income Ratio: Reliable predictor of payment performance
  • FICO Score: Used primarily for interest rate assignment

Key advantages of our approach:

  • Soft credit pull until loan funding (no credit impact during application)
  • The majority of students receive instant decisions
  • Students can apply with co-borrowers directly in the application
  • More accurate placement into appropriate financing products

We use a comprehensive, AI-driven assessment that goes beyond traditional FICO scores to better serve career training students:

  • Climb Credit Score: Over 150 data points specifically designed for vocational students
  • Debt-to-Income Ratio: Reliable predictor of payment performance
  • FICO Score: Used primarily for interest rate assignment

Key advantages of our approach:

  • Soft credit pull until loan funding (no credit impact during application)
  • The majority of students receive instant decisions
  • Students can apply with co-borrowers directly in the application
  • More accurate placement into appropriate financing products

Students are placed into funding brackets (Elite, Standard, Enhanced) based on our AI assessment. Higher-credit students generate higher upfront payments to your school, while students with limited credit are seamlessly directed to our 0% Payment Plan.

These brackets are established using data from over $1 billion in career training loan originations and may be adjusted periodically based on updated repayment trends.

Important note: Regardless of which bracket a student falls into, they are considered fully paid by your school once funded. The student’s repayment obligation exists exclusively between Climb and the student.

Elite Access not available for Computer Science programs. Upfront percentages vary by industry and loan terms.

Once Climb disburses upfront funding for a student loan, that student is considered fully paid by your school. You will not receive any additional payments for that student—the single upfront payment is complete and final.

From that point forward, the student’s repayment obligation exists exclusively between Climb and the student. Your school has zero liability if the student defaults, and you keep the full upfront payment regardless of the student’s future payment performance.

They’re automatically offered our 0% Interest Payment Plan, ensuring no student is turned away while maintaining steady monthly cash flow for your school.

Higher-credit students generate larger upfront payments (75-100% of tuition), while students with limited credit use our 0% APR* Payment Plan for consistent monthly revenue. Both options are risk-free for your school

Absolutely. Climb complements existing payment options like scholarships, employer-sponsored programs, and internal financing.

Absolutely. Climb complements existing payment options like scholarships, employer-sponsored programs, and internal financing.

Typically, within 5-10 business days after your partnership agreement is signed.

Comprehensive onboarding webinar, continuous partner support via AI-assisted chat and live email—and real-time borrower assistance with our live-chat-available student success team.

No. Climb fully manages the administrative responsibilities—your team simply monitors your school’s performance via our intuitive School Portal.

Your school is fully protected either way. For Climb Loans, you keep the entire upfront payment with zero liability. For Payment Plans, you only receive what students actually pay, with no risk to your school.