Climb Crisis Response

How Climb Makes Decisions During a Crisis

By Angela (Ceresnie) Prince, former Climb CEO

For all of us, the past year has been filled with uncertainty about what the future may look like. From being unsure about our health and the health of our families, to the rising unknown of the long term effects that COVID-19 will have as a whole, we’ve all been taking it day by day.

One of the reasons that I — and the entire Climb team — have been able to continue to operate with clarity during this uncertain time is our unwavering commitment to our mission, values, and customers. I’d urge other startups and companies to take a similar look at their core priorities and (most importantly) to listen to your customers’ needs.

Here’s how Climb’s values and mission have helped guide us through the past year.

Value: succeed together

Decision: Do we trust our team to adapt to a new remote reality—or force people to come to the office and implement strict work from home rules and check-ins?

Climb’s foremost concern is for the well-being of its team members. Without our dedicated team remaining healthy and feeling safe, we would be unable to serve our customers and run our business effectively. This is true for most (if not all) companies.

All Climb employees have been working from home.

  • Climb has an unlimited sick and PTO policy, so employee wages will not be negatively impacted.
  • Climb has established a stipend for employees to procure tools needed to enable productive work from home, including computer accessories and workspace items.

Because of our decisive action not only to encourage work from home but also to provide the necessary assistance to ensure people can do so effectively, we both created a clear environment for people to continue to operate without ambiguity and we furthered the necessary social distancing directive that has been encouraged by policy makers and business leaders.

Educator Salary

put the learner first & own the solution

Decision: Do we add fees to protect our bottom line, or do we offer flexible payment benefits to our customers who need them most?

In times like these, given the uncertainty of the future, it’s easy to make reactive decisions in order to save every last penny. Although that might feel like the logical choice, we know it’s more important to maintain our commitment to those individuals who allow Climb to exist and thrive.

We worked with our capital partners and school partners to provide flexibility and reassurance to our learners, and we’re proud to have partners who are equally committed to our mission.

  • Learners who had not yet started class or received funded loans had the ability to make a number of adjustments — from adjusting program start dates, to changing loan amounts, to canceling loan agreements as needed.
  • Learners who already had loans with Climb were able to pause payments for 60 days without accruing interest. This benefit was thanks to our committed partners Goldman Sachs’ Urban Investment Group and other financing partners. Additionally, we built a suite of career success resources for our learners to leverage as they search for their next careers.
HVAC Technician Salary

Value: build a better system

Decision: Do we pause all spending used to support our school partners and wait out the uncertainty?

At first glance, it might feel prudent to completely pause spending and cut all expenses possible. While we did take a look at our growth plans and reduce resources in some places, we also looked thoughtfully and strategically at where spending should continue.

Given the state of the economy, and the unemployment rates that were expected to soar, we decided that providing attention and access for career-training education is needed now more than ever. Many people are facing unemployment, and they will need hard skills in order to improve job prospects.

To help our school partners maintain and continue to train learners for their career paths, we’re providing supporting services.

  • Current partners have the ability to make course and student application updates as their strategies for addressing the current crisis change. Schools can get the answers and updates they need through live chat without having to email or call a Climb team member, leading to minimal resource drain on the school’s staff.
  • Current partners have access to a wide array of custom financial product offerings to meet their needs and the needs of their students — including 0%-interest products and products that allow students to fully defer all payments until after graduation.
  • A number of Climb scholarships have been made available for some of our partners.

During this period of economic and job disruption, enrolling in one of our partner schools can offer learners an opportunity to gain training and skills that will help them emerge more employable. We believe supporting our partners and continuing to promote these life-changing programs can have a positive impact on the economy — and help job seekers gain new skills.

Value: iterate and experiment

Decision: Do we stubbornly stay the course no matter what, or do we continue to listen to feedback from our customers to inform our plans and responses?

Staying the course is useful, but not at the expense of leveraging feedback to improve.

We’re proud of the plan we’ve developed and the benefits we’ve created for our learners and school partners — but we know that there is always room for improvement and iteration. Over the last year, we’ve continuously solicited (and will continue to solicit) feedback from our learners and school partners to understand how we can help them through the uncertainty ahead.

We know that we’ll be faced with more decisions down the road.

No matter what we run into in the months and years to come, we’ll stay true to our mission. We’ll ensure that learners have access to career-focused education and valuable skills for today’s — and tomorrow’s — workforce.

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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.