After the student applies through your school’s Climb Credit application page and has been approved for a loan, the tuition funds will be sent directly to your school.
If the student qualifies for an interest-only period, they will make reduced interest-only payments on the loan for the first 12 months. This will help keep the principal balance down while they focus on their education.
After the initial interest-only period, their employer sponsor will cover 100% of the payments, as long as they are working for them per the Employer Sponsorship Agreement.
If they choose not to work for the sponsoring employer, the full principal+interest payments for
months 13–36 are due by the student.
If the student doesn't qualify for the interest-only period, they may still qualify for a 36-month payment plan in which their sponsoring employer will cover 100% of their payments once they begin working for the employer.