Prospective teachers, social workers and journalists now have access to income-tested student loans

Edly offers affordable and flexible tuition funding for students pursuing careers with high social impact

NEW YORK, March 22, 2022 /PRNewswire/ — Innovative leader in income-based repayment loans, Edly, has announced it is expanding student loan funding to eight new areas of study focused on high-impact careers, including teaching , social work and journalism. More than 530,000 students graduate each year to pursue high-impact careers in the United States and they face a combined tuition funding shortfall of more than $5 billion. By expanding access to its affordable and flexible student loan solution, Edly is advancing its core mission of making a positive social impact by providing students with access to tuition finance that would otherwise not be available due to a lack of credit or cosigner history. It is also the first and only student loan platform facilitating income-contingent repayment loans to students in new fields of study. Loan applications can be submitted now.

Education Funding for Social Impact
Newly Added Fields of Study

Career impact

Fields of study

Teacher

Education

Social worker

Social work
Public administration

Policy Analyst

Political science
Policy development

Humanitarian aid worker

Engineering
Education

homeland security &
Law enforcement

Criminal Justice Forensic Pathology

Journalist

Communication Journalism

“Students should be able to pursue high-impact careers and access the tuition funding they need to do so, even if it means accepting a lower salary after graduation,” said Chris RicciardiCEO of Edly. “That’s why we’re bringing the accessibility and flexibility of our income-based repayment loans to more students who are passionate about pursuing careers with high social impact. We’re empowering students to enter in careers that can positively impact society, drive social change and create transformative benefits for communities.”

Students pursuing a degree with high social impact potential face an estimated number $10,000 funding gap – the difference between tuition fees and available federal student loan funding. Edly’s one-of-a-kind lending platform is designed to meet this need without the need for credit scores or co-signers by aligning future economic success for students with the ability to generate investment opportunities for focused investors. on the social impact.

Edly is a platform that connects students and investors looking to support students by investing in the financing of their tuition fees. Accredited and institutional investors interested in funding the next generation of high impact careers can do so by investing in the EdlyOutcomes High Impact Strategy. This unique approach consists of loans granted to students whose schools and fields of study have an above-average probability of creating a positive social impact, but who do not necessarily have high expected incomes. By providing a platform for interested and qualified investors, Edly has made it possible to deliver its affordable education finance solution to over half a million students who want to make a social impact but might not be unable to graduate from college due to lack of funding. .

Edly recently took three major steps in its own growth, strengthening its C suite, securing $175 million in new funding and the acquisition of Avenify, a leader in student funding for nursing schools and a longtime partner of Edly. These changes to Edly’s rapid growth come at a critical time for U.S. student loans, as the federal student loan repayment moratorium is set to expire on May 1, 2022.

For more information about Edly or to check loan terms, visit: www.edly.co.

About Edly
Edly is a platform that connects students wishing to finance tuition fees with investors wishing to support social impact investments in education. Edly focuses on a type of tuition financing known as income-based repayment loans (“IBR loans”), the only regulated student loan model of its kind in the private sector. Students benefit from a reimbursement process specifically adapted to their starting salary and adjusting to their professional development. This unique model uses historical student performance data from sources such as the Department of Education, Bureau of Labor Statistics, private databases, and proprietary Edly data to ensure student borrower success is likely without relying on traditional credit ratings or co-signers. This has allowed Edly to facilitate more flexible, affordable, and accessible education funding for students pursuing degrees in nursing, teaching, journalism, social work, STEM, accounting, and more. Edly has funded over 4,000 students since its launch in 2019 and is available to provide educational funding to students at over 1,800 of America’s leading colleges and universities. All IBR student loans are unsecured personal student loans issued by FinWise Bank, a Utah chartered commercial bank, member FDIC.

SOURCEEdly, Inc.

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