The company arranges loans for students studying to become nurses, physical therapists, optometrists, and other medical roles. Clasp matches each student borrower with an employer who agrees to hire the student after graduation. The employer also agrees to pay back a portion of the student’s loans in return for a commitment of two to three years of work.
The result is more workers for participating employers and a reduced debt burden for their workers, according to Clasp chief executive Tess Michaels.
The company announced on Wednesday that health care providers including Boston Children’s Hospital, Memorial Sloan Kettering in New York, and multi-state network Novant Health would participate in the program.
The idea for Clasp, which…