GLENWOOD SPRINGS, Colo. – Colorado Mountain College (CMC), a federally designated Hispanic Serving Institution (HSI), is proud to announce the launch of its Rural Nursing Success Fund Income Share Agreement (ISA) program in partnership with Meratas.
The new program at CMC gives nursing students the opportunity to pay for college using incentive-aligned income share agreements. With an ISA, students do not pay upfront tuition. Instead, they pay a fixed percentage of their income after graduation for a set period of time. Nurses trained by Colorado Mountain College will be able to participate in an ISA that has no interest and caps the total repayment at the amount borrowed. Income share agreements give students a chance to get a great education without the barrier of upfront costs or high student loan debt.
CMC students earning a bachelor’s degree or associate degree in nursing with a financial need are eligible to receive up to $3,000 per year through the CMC Foundation Rural Nursing Success Fund Income Share Agreement opportunity.
This program was specifically created for CMC nursing students and further provides a 25% incentive for CMC graduates to stay and work in Colorado Mountain College’s Rocky Mountain region.
CMC is one of the most affordable bachelor’s degree-granting institutions in the nation and demonstrates a continuous commitment to providing an affordable and high-quality education that helps students graduate with less student loan debt.
“We are always seeking ways to grow the pipeline of nurses in our mountain communities and give them the tools needed to succeed,” said Kristin Heath Colon, CEO of the CMC Foundation. “We believe CMC is uniquely well-positioned to recruit and educate diverse candidates in a high-need service area. We are additionally interested in providing an example of innovative financing that could be replicated in other environments.”
“This program is combating the lack of diversity, equity, and inclusion in higher education. Meratas is honored to support CMC in helping students gain access to the transformative effects of higher education,” said Meratas Founder and CEO Darius Goldman. “As a first-generation American, I recall stories of my mother immigrating to America in her early teens. It was through continued education that she was able to assimilate and advance. I like to think about her journey when considering the generational life-changing impact that this program will provide.”
About Colorado Mountain College
Founded in 1965, Colorado Mountain College provides a diverse range of learning opportunities at its 11 campuses across Colorado's rural mountain resort communities, and online. Accredited by the Higher Learning Commission, CMC serves over 14,000 undergraduates and community members each year offering over 125 certificates and degrees. Recognized for its commitment to accessibility, excellence and workforce training relevant to Colorado's outdoor, tourism and knowledge-based economy, Colorado Mountain College is among the lowest-cost institutions in Colorado and has one of the most affordable bachelor's degrees in the country, according to the U.S. Department of Education.
About Colorado Mountain College Foundation
Founded in 1985, the CMC Foundation builds sustainable community support for the needs and strategic priorities of Colorado Mountain College and its students. The CMC Foundation is governed by an independent board of directors and has $28 million in assets under management. Learn more: https://coloradomtn.edu/foundation/
Meratas is the leading ISA program manager, providing a full-service, turnkey, platform to design, originate, and service incentive-aligned tuition products. Universities and skills-training institutions partner with Meratas to achieve clear strategic objectives: improved retention, increased enrollment, and better outcomes tracking. With Meratas, schools can quickly and cost-efficiently launch a fully customized ISA program with best-in-class scalability and an unparalleled emphasis on provider and consumer benefits. Learn more at www.meratas.com
Topics: Press Release