Adtalem Global Education Inc. and Sallie Mae have announced a partnership to create new financing options aimed at healthcare students. This initiative comes in response to the anticipated phase-out of the federal Grad PLUS loan program, which is set to begin on July 1, 2026. The collaboration will provide support for students enrolled in Adtalem’s five institutions, which collectively represent one of the largest sources of future healthcare professionals in the United States.
The program seeks to address funding challenges that students face as they work towards completing their degrees in a field experiencing significant shortages. According to federal data, healthcare occupations are expected to grow at a much faster rate than the overall labor market from 2023 to 2033. This surge in demand is largely driven by the expansive $4.3 trillion U.S. healthcare sector. Currently, over 7,000 areas are designated as Health Professional Shortage Areas, and the Association of American Medical Colleges projects a potential shortfall of up to 124,000 physicians by 2034.
Enhancing Access to Education Financing
Adtalem’s CEO, Steve Beard, emphasized that the collaboration aims to “expand financing access” for the company’s more than 90,000 students. Many of these students will occupy roles critical to the healthcare system, making the need for accessible financing increasingly urgent.
Sallie Mae’s CEO, Jon Witter, characterized the partnership as an opportunity to create “innovative and scalable solutions” that address both student financing needs and the rising demand for healthcare professionals. The framework being discussed is expected to include features such as deferred repayment options and degree-specific terms designed specifically for healthcare education.
Next Steps and Future Plans
The companies plan to finalize a definitive agreement and will announce specific financing products in the coming months, contingent upon necessary regulatory approvals. This partnership marks a significant step towards ensuring that aspiring healthcare professionals have the financial support they need to succeed in their education and ultimately serve in essential roles within the healthcare sector.
In a time when the demand for healthcare services is at an all-time high, initiatives like this are crucial. The partnership between Adtalem and Sallie Mae reflects a proactive approach to addressing both educational financing challenges and workforce shortages in healthcare, positioning students and institutions for a more sustainable future.
