Top U.S. health systems are taking bold, employer-led action to combat two converging crises: student debt and clinical staffing shortages. Together with Clasp, the first retention-driven recruitment platform, hospitals are launching a new model for financing education—one that locks in talent early, rewards retention, and makes healthcare careers more accessible.
A new generation of healthcare professionals is entering the workforce with staggering debt—often exceeding $100,000 for roles like physical therapists, occupational therapists, and physician assistants, and nearly $150,000 for newly graduated veterinarians. These burdens are only expected to grow as more roles shift to advanced degree requirements: physical therapists now need a doctorate to practice, nurse anesthetists will soon face the same, and states like New York are mandating additional credentials like the "BSN in 10" rule for nurses.
Clasp's model flips the script on traditional student loan benefits. Clasp programs enable employers to commit early—often while students are still in school—and defer actual repayment until after retention milestones. That structure stretches every dollar further, with many employers on Clasp's platform offering up to $75,000+ in tax-advantaged loan repayment over three years. The result: deeper loyalty, lower turnover, and more sustainable pipelines for in-demand roles like nurse anesthesia, radiologic and surgical technology, respiratory therapy, physical therapy, and veterinary medicine.
"At Novant Health, we're working to build a healthier future for all – from patients and communities to our own clinicians and team members. We believe the workforce of tomorrow depends on how we support students today," said Sebastien Girard, Senior Vice President and Chief People Officer, Novant Health. "As part of our recruitment efforts targeting new nurse anesthetists, we've partnered with Clasp to repay a significant portion of their student loans and hope to expand this benefit to other positions in the future. By relieving financial burden upfront, we're building loyalty from day one—and setting a new bar for what it means to invest in our future teams."
To expand access and impact, Clasp has also secured up to $100 million in no-cosigner education loan funding—helping students from low- and middle-income backgrounds pursue high-impact healthcare careers without barriers.
"This isn't just about offering a benefit—it's about rewiring how healthcare systems attract and retain talent," said Tess Michaels, CEO of Clasp. "These leaders aren't just responding to a crisis. They're shaping the future of work in healthcare—and setting a new standard that others will follow."
This Spring, a healthcare system with >30,000 employees fully replaced their sign-on bonuses for one of their hardest-to-hire clinical roles and was able to hit 130% of their applicant goal in just 20 days offering student loan repayment. Across Clasp's partner network, early data shows a potential 440% return-on-investment, with employers saving up to $5 million in year one by utilizing as an alternative to sign-on bonuses, reducing contract labor spend, and cutting turnover—down to as little as 5% in some roles on Clasp's platform.
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