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Health care industry

Healthcare Systems Launch Innovative Student Loan Repayment Program

Strategic Insights

— 2 min read

Top US health systems, including Boston Children's Hospital, Memorial Sloan Kettering, and Northwestern Medicine, are partnering with Clasp, a retention-driven recruitment platform, to offer early job commitments and combined $101.2M+ in student loan repayment for critical healthcare roles. This bold move aims to combat two converging crises: student debt and clinical staffing shortages. By offering tax-advantaged loan repayment over three years, employers on Clasp's platform are stretching every dollar further, leading to deeper loyalty, lower turnover, and more sustainable pipelines for in-demand roles like nurse anesthesia and physical therapy.

Key Takeaways:

  • Top US health systems, including Boston Children's Hospital, Memorial Sloan Kettering, and Northwestern Medicine, are launching a new model for financing education through early job commitments and student loan repayment.
  • The combined student loan repayment program offers over $101.2M+ to critical healthcare roles.
  • Clasp's model flips the script on traditional student loan benefits by deferring actual repayment until after retention milestones, stretching every dollar further.
  • Many employers on Clasp's platform offer up to $75,000+ in tax-advantaged loan repayment over three years.
  • Systems leading the charge include Boston Children's Hospital (ranked #1), Memorial Sloan Kettering (the #1 cancer hospital in the US), MyEyeDr. ( ranked #1), Northwestern Medicine (a Top 10 hospital), and OhioHealth (a Top 15 hospital).
  • Novant Health has partnered with Clasp to repay a significant portion of student loans for newly graduated nurse anesthetists, aiming to expand this benefit to other positions in the future.
  • Clasp has secured up to $100 million in no-cosigner education loan funding to help students from low- and middle-income backgrounds pursue high-impact healthcare careers.
  • The program has shown a potential return-on-investment of 440%, with employers saving up to $5 million in year one by utilizing Clasp as an alternative to sign-on bonuses.

Statistics:

  • Over $101.2M+ in student loan repayment offered by top US health systems
  • 10,000+ students have accessed outcomes-based financing, career pathways, and student loan repayment through Clasp since 2018
  • Clasp has secured up to $100 million in funding capacity with no co-signer required
  • Average return-on-investment of 440%
  • Potential savings of up to $5 million in year one for employers using Clasp as an alternative to sign-on bonuses

Sources:

  • "Boston Children's Hospital Ranks No. 1 Pediatric Hospital in the US", Boston Business Journal (2020)
  • "Memorial Sloan Kettering Cancer Center Ranked #1 in the Nation for Cancer Care", US News & World Report (2022)
  • "MyEyeDr. Ranked #1 in Customer Satisfaction", MyEyeDr. (2022)
  • "Northwestern Medicine Ranked Among Top 10 Hospitals in US", US News & World Report (2022)
  • "OhioHealth Ranked Among Top 15 Hospitals in US", US News & World Report (2022)
  • Clasp press release (July 9, 2025)
  • Clasp website (clasp.com)
  • Clasp press release (February 2022)

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