Social Finance Partners with Per Scholas to Offer Living Expense Loans to Learners

The Zero Percent Loan program helps participants to cover living expenses with support from Social Finance, a grantee of the Google Career Certificates Fund

(Boston, MA and New York, NY)—Social Finance, a leader in innovative workforce investments, has partnered with Per Scholas on a pilot program that offers living expense loans to participants in Per Scholas’ three-month, no-cost IT Support training program. The Zero Percent Loan (ZPL) program helps participants to cover living expenses while they complete the Google IT Support Certificate—training for in-demand, well-paying jobs with pathways to economic mobility—allowing them to focus on gaining the skills needed for these careers. 

There are many good jobs that need to be filled, but they often require a degree or credential. These training programs are out of reach for many prospective participants who must decide between pursuing training and working so that they can cover their living expenses. 

The Per Scholas ZPL is managed by Social Finance, a grant recipient of the $100 million Google Career Certificates Fund. The program supported by the Google Career Certificates Fund aims to drive $1 billion in aggregate wage gains for more than 20,000 people while providing wraparound support services such as professional coaching, interview prep, and job placement assistance. With the ZPL, learners receive $3,000 over the course of the three-month long Per Scholas program. The loans are flexible, allowing learners to use them according to their needs for expenses such as rent, groceries, transportation, or childcare. Learners only repay the ZPL via no-interest, low monthly payments if they secure jobs making above a minimum salary. Repayments received are reinvested back into the program to allow more learners to benefit. 

Per Scholas piloted the loan across 21 IT support cohorts at eight campuses—Atlanta, Baltimore, Chicago, Cincinnati, Dallas, Detroit, North Carolina, and Philadelphia—and aims to expand the program with support from additional partners. 

“The Zero Percent Loan program is a game-changer in Per Scholas’ mission to drive economic mobility and build a diverse, inclusive tech workforce,” said Plinio Ayala, president and CEO of Per Scholas. “By tackling the often-overlooked challenge of living expenses during training, this initiative reduces financial barriers that have long kept talented individuals from reaching their full potential. With the support of Social Finance, Google.org, the Annie E. Casey Foundation, and the Charles Koch Foundation, we are not just empowering learners to gain critical skills for in-demand careers—we are creating a model for lasting economic equity and reshaping the future of opportunity in the tech industry.” 

Early results from the pilot demonstrate the impact of the ZPL, with participants achieving an 83% graduation rate compared to 70% for non-participants, a statistically significant improvement. Detailed in a newly released report by Per Scholas, the pilot ran from June 2023 to March 2024, with nearly 60% of all eligible learners applying for the ZPL. 

“We designed this program, made possible through the Google Career Certificates Fund, to support learners as they prepare for jobs that lead to economic mobility. We are encouraged by the early results of the Zero Percent Loan pilot with Per Scholas, which show greater persistence among learners using the loan,” said Jake Edwards, VP of Impact Investments at Social Finance. “We are excited to apply learnings from the partnership, and other training providers supported by the Fund, to build the knowledge base of what works to help more learners upskill at scale.” 

The program is already helping learners improve their job prospects and earning potential. Wanting to switch careers, Tori Haynes—who had been working as a security guard and DJ—was encouraged by a Per Scholas alum to consider Per Scholas training to pursue her interest in a career in tech. Tori enrolled in Per Scholas’ IT Support course in Baltimore. The ZPL provided Tori with the financial stability to focus on the program, helping her gain technical and professional skills. Tori now works as an IT Support Specialist at a real estate company and is exploring opportunities in emerging technologies, including AI. 

“When I found out I got the loan, it was such a relief—it was one less thing to worry about. It allowed me to concentrate fully on my studies and gave me a cushion so I didn’t have to work constantly to make ends meet,” Tori said. “Some people literally can’t pursue education because they can’t afford it. Doing this program for free and with the extra financial help? That’s a miracle for some people.” 

The Google Career Certificates were developed by Google employees to support skilling in high-demand fields within 3-6 months—with no degree or experience required. The Google Career Certificates Fund began supporting learners with training providers including inaugural training providers Merit America and Year Up in 2022. In addition to training and wraparound support, learners are also connected to an employer consortium of over 150 companies that consider Google Career Certificates graduates. 

To learn more about Per Scholas’ IT Support training program and how you can enroll, visit perscholas.org. 

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About Social Finance 

Social Finance (SF Advisors, LLC) is a national nonprofit and registered investment advisor. We work with the public, private, and social sectors to create partnerships and investments that measurably improve lives. Since our founding in 2011, we have mobilized more than $400 million in new investments designed to help people and communities realize improved outcomes in workforce and economic mobility, health, and housing. Learn more at socialfinance.org. 

About Per Scholas 

For nearly 30 years, Per Scholas has been on a mission to drive equity and opportunity in the ever-advancing technology landscape by unlocking the untapped potential of individuals, uplifting communities, and meeting the needs of employers through rigorous tech training. By teaming up with dynamic employer partners, ranging from Fortune 500 companies to innovative startups, we’re forging inclusive tech talent pipelines, fulfilling an ever-increasing need for skilled talent. With national remote training and campuses in 20+ cities and counting, Per Scholas offers no-cost training programs in the most sought-after tech skills, spanning Cloud, Cybersecurity, Data Engineering, IT Support, Software Engineering, and more. To date, 25,000+ individuals have been trained through Per Scholas, propelling their professional trajectories into high-growth tech careers with salaries three times higher than their pre-training earnings. At Per Scholas, diversity, equity, inclusion, and belonging aren’t just buzzwords—they’re in our DNA. 85+ percent of our learners are people of color, two in five are women, and more than half hold a high school diploma as their highest educational credential. Learn more by visiting PerScholas.org and follow us on LinkedIn, Twitter, Facebook, Instagram, and YouTube.