Climb Credit offers new career training loans and tuition management technology for aviation schools that support future pilots

Climb’s new lending and technology solution removes barriers for students entering the aviation industry, a sector with growing labor shortages, and helps aviation schools scale so that they can train more future pilots. >

NEW YORK, February 8, 2022 /PRNewswire/ — Climb Credit today announced the launch of its new aviation training finance and payment technology solution to support flight schools and their students who want to become professional pilots. The current labor shortage in the industry, combined with the impending retirements of many pilots, should result in a need for 130,000 new pilots in the next 20 years.

(PRNewsfoto/Climbing credit)

A new loan solution is breaking down barriers for students entering the aviation industry amid growing labor shortages.

Aviation training programs across the country are working to meet the needs of this shortage. However, many students find it difficult to begin their training due to the tuition fees required to complete aviation training programs. Commercial pilot programs can have high tuition compared to other professional training, simply due to the cost of operation, such as maintaining a fleet of aircraft and paying for fuel. At the same time, these programs can lead to great career and salary results for their students. According to the Bureau of Labor Statistics, the median salary for airlines and commercial pilots in 2020 was $130,440. Unfortunately, there are few accessible financial aid options for their students, which creates a barrier to career transformation.

“Aviation schools are having an uphill battle trying to meet labor demands,” said Monica Meadows, Founder and CEO of 2MQ Consulting, a business operations and productivity consulting firm for aviation training programs. “Operating an aviation school is very expensive, and programs need to have tuition up front in order to run well and train pilots. This can be a huge challenge when the options for help financial are limited for students who also deliver up-to-school tuition fees.”

Climb’s financial offer for these programs is a full initial deferment of payments for 12 months, so students don’t have to pay anything while they’re in class and earning their flight hours, followed by a term additional 14 years for students to pay repay the full amount of the loan. Climb’s technology and data dashboard gives schools a better understanding of the most used payment methods for various programs, so they can make adjustments and meet the needs of their students.

“Our products are aimed at helping students pursue programs that can pay them back in the form of a solid, stable salary and career,” said Angela (Ceresnie) Prince, CEO of Climb Credit. “With the huge need for pilots in the years to come and the high salary potential that this career offers, we were delighted to create a financial product to specifically meet the needs of future pilots and the schools that train them.”

The Climb product’s generous repayment period can help students manage their monthly payments early in their careers and then repay the loan in full as their salaries mature and grow. Students can also prepay at any time without penalty.

About Climb

Climb (NMLS #1240013) is an innovative student payment platform that makes career creation and transformation more accessible, affordable and responsible than ever. Driven by a mission to empower individuals to unlock their career potential – regardless of their credit profile – Climb identifies programs and schools with a demonstrated ability to improve the earnings of their graduates. Next, they provide learners with funding options that are priced and structured to suit the unique needs of those seeking career elevation and increased earning power. Recognizing the dynamic and diverse nature of a rapidly changing economy, Climb partners with schools that teach everything from cybersecurity to healthcare training, from the operation of heavy machinery to data science and culinary arts. to coding. While some colleges struggle to meet the real needs of their students, Climb and its partner schools are committed to inspiring practice that brings real career results as individuals Own their next chapter. For more information, visit https//climbcredit.com or follow @ClimbCredit on Facebook, Twitter and Instagram.

Media Contact:
Laura Fitzpatrick
[email protected]

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SOURCE Ascension Credit

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