Posted: October 19, 2021 at 8:00 a.m. MDT|Update: 26 minutes ago
NEW YORK, October 19, 2021 / PRNewswire / – Climb Credit, a student loans and payments company that works to expand access to vocational training, announced a new partnership with the Education Quality Outcomes Standards Board (EQOS), a non-profit organization that helps post-secondary education providers, state governments, and technology platforms collect and report data on student achievement. Through this partnership, Climb and EQOS will work to prioritize student outcomes as an important driver of responsible lending and increase accountability through standardization.
Climb and EQOS prioritize results as an important factor in responsible student lending to increase accountability.
Climb Credit is the first student lender to partner with EQOS, whose mission is to establish a consistent process for collecting and reporting student outcomes across all post-secondary education and training programs. Standardizing student outcome measures will allow all stakeholders (students, providers, employers, policymakers and investors) to navigate the higher education market with more confidence, prioritize student success and maximize return on investment.
The goal of this partnership is to establish a clear methodology and a consistent set of definitions and measures for assessing data on student achievement in the real world. This consistency in measuring results will lead to increased accountability and encourage a new standard in the education industry for career advancement.
“We have noticed that there is a gap in post-secondary reporting for career-oriented programs, where educational institutions disclose graduation rates, but have more difficulty tracking placement, earnings and career growth, “explained Kristin sharp, CEO of EQOS. “As long as education and workforce programs track their results, there is no way to assess results or compare them between programs – an essential element in enabling potential students to check the ROI of a program before deciding to continue with it. “
Applying the EQOS Outcomes Data Framework to Climb’s existing program evaluation and student survey process will allow lenders like Climb to offer loans to schools that provide student outcomes and , therefore, to ensure that any debt created for students will not be heavy in relation to the result.
“We are delighted to reinforce our continued commitment to work with programs that provide students with results that advance their careers,” said Angela Ceresnie, CEO of Climb Credit. “We continue to believe that understanding student outcomes is an important step in being a responsible student lender for these programs.”
As a neutral third party, EQOS will provide additional infrastructure and process development support for Climb to continue to evaluate programs objectively and transparently to help student borrowers maximize their return on investment.
For more information visit www.climbcredit.com
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 incomes of their graduates. Then, they provide learners with funding options that are priced and structured to meet the unique needs of those seeking career advancement and increased earning power. Recognizing the vibrant and diverse nature of a rapidly changing economy, Climb partners with schools that teach everything from cybersecurity and healthcare education, heavy machinery operation and 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 providing an inspiring, hands-on approach that brings real career results as individuals take ownership of their next chapter. For more information, visit https // climbcredit.com or follow @ClimbCredit on Facebook, Twitter and Instagram.
EQOS is an independent, non-profit organization that partners with education service providers to collect and report results-based quality assurance data. The organization’s voluntary standards give innovative education providers a set of metrics to measure and show the real impact of their programs on the economic mobility of learners.
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SOURCE Ascent Credit
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