Far too often, smart, passionate people are blocked from reaching their career goals — whether those obstacles are created by distance from campuses, scheduling conflicts, or an inability to pay the tuition cost. Here at Climb, our goal is to break down that cost barrier. How is that possible? Here’s how Climb’s financing options can create more accessibility to education.
Meet the financial needs of all students
Those looking to enroll in continuing education programs aren’t one-size-fits-all, so the payment options available to you shouldn’t be either. Are you able to afford paying the tuition amount all at once, and still have enough left over for living expenses? Then paying tuition upfront may be the best option for you. Do you need to break up tuition into smaller amounts? Then you may want to consider various alternative payment options such as interest-free recurring payments or student loans. For a more in-depth look at payment options and how to choose the right one for you, click the button below!
Employ more inclusive credit models
Too many times, having a thin credit history or low FICO score keeps people from accessing the financing needed to improve their trajectory. In fact, according to 2020 data from LendEDU, the average approved private student loan borrower had a 748 credit score — almost 20% higher than the average applicant score.
That’s why we’ve partnered with industry experts to use their software to re-weight certain factors that have previously gone into credit scoring. By adopting this method, Climb is able to utilize a more level playing field for its application.
How to pay is an important concern for nearly everyone looking to enroll in a continuing education program — in fact, we’ve found that financing and cost are the number one factors prospective students look at when deciding which school to attend.* Not everyone is able to pay for the full tuition and any necessary supplies they may need upfront, so Climb is working to make this aspect of enrollment easier. By offering a variety of payment options to meet everyone’s needs, and by increasing the inclusivity and fairness of traditional credit modeling, we hope to help more people access career training opportunities.
*Based on self-reported survey results of climbcredit.com website visitors in September 2018. Synthesis of results based on 73/76 respondents.