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Clasp launches national marketplace for loan-linked hiring

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Clasp launches national marketplace for loan-linked hiring

Clasp, a job search and hiring tool tying student loan repayment to tenure, has launched a marketplace for clinicians-in-training and employers focused on loan-linked hiring.

Healthcare students can use the Clasp Marketplace to compare jobs by what each one pays toward their student loans, plus salaries. In order to post a job, an employer must commit money toward a student’s debt. Students can join as early as their first term, and the marketplace costs students nothing.

On the platform, students can browse job opportunities across their specialty, comparing employers, locations, salaries and loan repayment commitments. A loan calculator runs each commitment against a student’s real balance and turns various employer contributions into payoff timelines. Offers on the platform average over $68,000 and reach as high as $180,000.

Previously, Clasp would work with individual employers and students would go to that employer to see their opportunities. The marketplace takes a much broader lens, one that empowers students to compare national options side by side.

“This is about making this a movement, and not just about 1:1 placements of an employer to an individual,” Tess Michaels, founder and CEO of Clasp, told Fierce Healthcare in an advance interview. “Part of what we’re doing is really changing the way that individuals think about starting their career.”

While students are in school, Clasp also offers them study tips, budgeting tools and meet-and-greets with employers. Some employers offer additional support, like mental health tools, or invite students to conferences, clinical rotations or internships. Clasp also offers budgeting tools and loan guidance after students sign a commitment agreement.


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