As of September 16th, 2025, Climb has released a new version of the Deferred Tuition Report in order to enhance its accuracy and usability. Please see below for details regarding major calculation changes, and refer to the field mapping guide here for a translation of how the legacy report translates to this new version.
Note — field names are in bold.
Pool Summary
Major calculation adjustments include:
- This year, Climb updated its forecasting model to better predict future losses. The output of which is reflected in the Remaining Losses (Projected) field. Overall, the new model is predicting higher losses than the previous version, though results will vary by school and cohort (expect to see more changes for more recent cohorts).
- Additionally, please note that while the projections are improved they are still subject to change over time - especially within 6 months post-origination.
- The old report included a field called Projected Remaining Advanced Tuition Payment to Investor in Pool, which showed the amount owed to investors before deferred tuition payments could begin. However, this field didn't account for ongoing monthly expenses like the cost of capital and servicing fees - which are now included in the new equivalent field Outstanding Investor Payments + Fees. As a result, the total amount owed to investors and other parties will appear higher in the new report.
- The Remaining School Payments (Projected) field now contemplates the updated loss projections and investor payments, but also includes more accurate borrower payment forecasts—including interest payments—that somewhat offset these adjustments.
- Simplified the Cumulative Net Loss Rate (Actual, To-Date), which can now be tied back to other fields presented in the report [Defaulted Amount (Actual, To Date) / Total Tuition (Net Refunds + Write-Downs)].
Historical Payments (Actual)
No major changes, other than the removal of certain fields.
Payout Schedule (Projected)
No major changes.
Loan Level Details
Calculation adjustments:
- Changed the Approximate School Payments field calculations to better reflect attribution of payments in accordance with Climb’s financial processes. Please see the “Definition” tab in the new report for a more thorough explanation of the new methodology.
New report fields
| Report Tab | Legacy Deferred Tuition Report | Deferred Tuition Report 2.0 |
| Pool Summary | cohort_current | Cohort ID |
| First Loan | First Origination Date | |
| Last Loan | Last Origination Date | |
| Total Net Tuition in Pool | Total Tuition (Net Refunds + Write-Downs) | |
| Net Advanced Tuition in Tuition Pool | Advanced Tuition, Net Refunds | |
| Net Deferred Tuition in Tuition Pool | Deferred Tuition, Total - Write-Downs | |
| Actual Deferred Tuition Payment to School To-Date | Payments to School (All-Time) | |
| Remaining Advance Tuition | Removed, embedded in new field Outstanding Investor Payments + Fees | |
| Remaining Deferred Tuition Balance | Ending Balance | |
| Remaining Advance Tuition | Outstanding Investor Payments + Fees | |
| Projected Principal Payments to be Paid | Removed | |
| Projected Remaining Advanced Tuition Payment to Investor in Pool | Outstanding Investor Payments + Fees | |
| Projected Remaining Deferred Tuition Payment to School in Pool | Remaining School Payments (Projected) | |
| Remaining Dollar Amount Net Loss we expect | Remaining Losses (Projected) | |
| Cumulative Net Loss (Amount) % | Cumulative Loss Rate (Actual, To-Date) | |
| Payout Schedule (Projected) | corporate_entity_name | Corporate Entity Name |
| cohort_id | Cohort ID | |
| snapshot_month | Reporting Period | |
| projected_deferred_tuition | Projected School Payment | |
| Historical Payments (Actual) | Period | Period |
| Deferred Tuition Payment | School Payment | |
| Ending Deferred Tuition Balance | Removed, available on Pool Summary tab | |
| Investor Principal Paid | Removed | |
| End Inv. Balance | Ending Investor Balance | |
| cohort_current | Cohort ID | |
| corporate_entity_name | Corporate Entity Name | |
| Principal Paid | Removed | |
| Inv. Principal Paid | Removed | |
| Loan Level Details | ref | Ref ID |
| First Name | First Name | |
| Last Name | Last Name | |
| start_date | Origination Date | |
| end_date | ||
| total_loaned_usd | Original Loan Amount | |
| refund | Refund Amount | |
| net_total_loaned | Removed | |
| advanced_tuition_usd | Advanced Tuition | |
| net_advance_tuition | Advanced Tuition (Net Refunds) | |
| deferred_tuition | Deferred Tuition | |
| deferred_write_down | Deferred Tuition Write-Down | |
| net_deferred_tuition | Deferred Tuition (Net Write-Downs) | |
| net_deferred_tuition_pool | Removed | |
| net_deferred_tuition_pct_pool (By Cohort) | Share of Total Cohort Deferred Tuition (Net Write-Downs) | |
| net_deferred_tuition_pct_pool (By School) | Share of Total School-Level Deferred Tuition (Net Write-Downs) | |
| net_loss | Remaining Losses (Projected) | |
| approx_deferred_tuition_paid | Approximate School Payments (To Date)
Note: methodology change, please refer to release notes | |
| approx_remaining_deferred_tuition | Removed | |
| approx_deferred_tuition_to_be_paid | Removed | |
| cohort_current | Cohort ID | |
| days_late | Repayment Status | |
| school_name | School Name |