Award-winning fintech emerges as leading player in student-centric financing, providing access to scalable capital and flexible repayment structures for students and schools
BOSTON, June 28, 2022 /PRNewswire/ -- Stride Funding, Inc. (Stride), announced today the addition of 15 new schools to its end-to-end financing platform, creating outcomes-based funding access for more than 5,000 additional students across the country.
Stride is partnering with mission-driven universities like PA College of Health Sciences, Point Loma Nazarene University, Shenandoah University, and Point University and top-tier bootcamps like Galvanize, Upright Education, Academy Pittsburgh, Tech Elevator, and more. This growth comes on the heels of a $105 million senior credit facility from Encina Lender Finance and other leading credit investors. More than 5,000 new students will be joining Stride's award-winning platform through these school partnerships, and Stride's ongoing access to impact capital and low-cost credit facilities will enable the mission-driven company to support thousands more students across high quality education and training providers in 2022 and 2023.
"We vetted many other players in the space, and Stride was by far the most rigorous when it came to compliance and student-centricity," said Breanne Zipko, Director of Student Financial Services at PA College of Health Sciences. "Outcomes-driven funding solutions like Income Share Agreements (ISAs) drive access and opportunity, and Stride ensures a seamless application and disbursement process for both PA College of Health Sciences and our students. We are thrilled to partner with a provider that puts students first."
Stride's mission is to accelerate pathways to great careers for learners of all backgrounds by increasing access to education for those previously locked out by traditional lending options. Its outcomes-based financing solutions provide students with downside protection, affordable rates, and wrap-around support. Stride is quickly emerging as a leader in the space, known for its student-centricity and rigorous adherence to compliance.
"Our team was impressed with Stride's dedication and their prioritization of transparency and compliance in the servicing of our income-contingent financing products," said Christopher Barnett, Associate General Counsel at Galvanize. "We anticipate our partnership will amplify Galvanize's impact and make our programs and outcomes more accessible than ever before."
Gina, a Stride ISA member and recent nursing school graduate, said that with funding from Stride, she was able to achieve an incredible milestone in her career—starting her nursing journey at the same newborn intensive care unit where she was once a patient. "Stride Funding contributed to a huge portion of me going to nursing school and pursuing my dreams and goals. My program was really expensive, and Stride helped me to find a way to make sure I didn't miss a single moment of school due to cost," she said.
Universities and bootcamps interested in partnering to improve financial and career access for students of all backgrounds can contact firstname.lastname@example.org, or visit stridefunding.com/universities and stridefunding.com/bootcamps, to learn more.
Stride Funding, Inc. is a mission-driven company that helps students hit their stride–with flexible educational funding. Unlike loans that lock students into rigid repayment structures, Stride offers affordable repayments with income protection. The company has been recognized as a visionary leader by FinTech analysts for its innovative funding arrangements and commitment to career support. Stride's executive team includes professionals with experiences across Sallie Mae, JP Morgan Chase, National Foundation for Credit Counseling (NFCC), Goldman Sachs, Uber, and Liberty Mutual. GSV Ventures, Slow Ventures, Strada Education, Juvo Ventures, Firework Ventures, and Flybridge amongst others have participated in previous funding rounds. Learn more at stridefunding.com.
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