Outcome partners with LIFT Academy to build and manage outcome-based student loan program

Outcome Group has announced its partnership with Leadership in Flight (LIFT) Academy. Outcome is an outcome-based education finance company and will manage the outcome-based loan program in coordination with LIFT.

LIFT prepares students for careers in aviation, including commercial airline pilots and aircraft maintenance technicians. Owned by Republic Airways, LIFT is a codeshare partner operating more than 900 daily flights on behalf of American Airlines, Delta Air Lines, and United Airlines.

Outcome-based loans help LIFT students as they feature a progressive payment structure designed to remain affordable throughout their careers and to directly align repayment costs with graduates’ success. The terms of the loan state that graduates only repay their loan obligation if they earn above a predetermined level of income after leaving school and monthly payments vary with income. Because of the terms, borrowers pay less early in their careers and more as their income grows, ensuring their financial obligations are always affordable.

LIFT students seeking to become commercial airline pilots can take advantage of the tuition subsidies provided by Republic. Students opting for subsidies could see the costs of their education reduced in exchange for a commitment to fly for Republic for at least five years.

“This partnership leverages the power of outcome-based lending to benefit students, academic institutions, employers, and consumers,” Outcome CEO Jim Courtland said. As key sectors, including aviation, continue to face skilled-labor shortages, outcome-based lending programs can be combined with high-quality training programs to provide students with a pathway to career success and financial independence while allowing employers to meet their need for skilled workers.”

“We are thrilled to work with LIFT to get this program off the ground!” Courtland said.

“We believe our commercial pilot training is on par with the very best in the world,” Director of Operations and Academic Programs Ed Bagden said. “It’s innovative, intense and successful; our graduates outperform their peers. By partnering with Outcome, we’re creating financing options that are just as innovative. Outcome-based repayment plans are a cost-effective financing option and we are increasing its value by subsidizing tuition costs. We are thrilled to be able to partner with Outcome to offer our students these options.”