Meritize
Meritize provides student loans for skills-based education programs, using non-traditional lending methods and considering past achievements for better rates. The company offers flexible repayment options, career services, and partners with over 1,000 schools to support students and employers in filling skilled job openings.
Services
Meritize provides student loans for skills-based education programs through non-traditional lending methods. The company evaluates past academic or military achievements in addition to credit to offer better rates. Meritize offers flexible repayment options, including interest-only or full payments while in school, and fully deferred payment options for many programs. Borrowers also receive access to free career services, such as job search bootcamps and new-to-the-job coaching.
Lending Solutions
Meritize utilizes a proprietary Meritize Score that rewards students for their past achievements, offering competitive fixed and variable rates from 8.124% APR to 26.73% APR. The company partners with over 1,000 schools to provide loans for skills-based education. However, Meritize does not offer loans in Maine, Vermont, and Puerto Rico. They also offer customized talent acquisition programs to address employer skills gaps.
Career Services
Meritize supports its borrowers with free career services, including job search bootcamps and new-to-the-job coaching. The company offers on-demand recruiting and training solutions for employers and provides outsourced recruiting and training programs for large numbers of candidates. These initiatives help bridge the gap between education and employment, ensuring a smooth transition for students into skilled jobs.
Headquarters
Meritize is headquartered at 5805 Main Street, Suite 220, Frisco, TX 75034. The company observes major US holidays, which may impact its normal business hours. Meritize Lending, LLC, and Meritize Financial, Inc. have specific NMLS IDs for consumer access, ensuring compliance and transparency in its lending practices.
Market Need
Meritize addresses a significant need in the job market, where more than 30 million U.S. jobs pay an average of $55,000 a year and do not require a bachelor's degree. There are over 12 million annual job openings for skilled workers, with 3 to 4 million manufacturing jobs expected to need filling by 2025. Meritize’s student loans and career services aim to fulfill this demand by facilitating access to skills-based education and training.