WGU and Social Finance Announce Central Health as the Inaugural Employer Partner for Fund Supporting Nursing Education

The Reinvesting in Nursing Education and Workforce (ReNEW) Fund addresses the national nursing shortage by financing a pipeline of new nursing graduates

SALT LAKE CITY, AUSTIN, BOSTON, May 21, 2025 – Western Governors University (WGU) and Social Finance today announced Austin, Texas-based Central Health as the first employer partner of the ReNEW Fund. The Central Health system, which encompasses Central Health, CommUnityCare Health Centers and Sendero Health Plans, is making a critical investment in its nursing workforce to address the health needs of its growing community.

Established in 2024, the ReNEW Fund is a national financing model that addresses the U.S. healthcare talent crisis by unlocking access and economic opportunity for aspiring nurses who face financial barriers. The ReNEW Fund aims to offer zero-interest loans to thousands of students across the country through WGU’s Bachelor of Science in Nursing Prelicensure (BSN) degree program at the Michael O. Leavitt School of Health. The fund helps to cover the final two years of qualifying students’ tuition and fees, as well as providing the financial support they may need to attend in-person training at WGU’s Clinical Learning and Simulation Centers and clinical rotations. The ReNEW Fund is supported by philanthropic partners, including foundations and family offices.

“As the first employer partner of the ReNEW Fund, Central Health is proud to lead the way in investing in the future of nursing,” said Dr. Patrick Lee, president & CEO of Central Health. “Through this innovative partnership, we are removing financial barriers that too often stand in the way of talented individuals pursuing a rewarding nursing career—one that gives back to their communities and strengthens our healthcare system. By investing in the next generation of nurses, the ReNEW Fund helps us build a workforce that truly reflects and understands the diverse patient population we serve.”

“By directly aligning education and job opportunities, we are unlocking individuals’ limitless potential, enabling them to uplift their families and communities with their contributions to the workforce,” said Scott Pulsipher, president of WGU. “The growth of the ReNEW Fund’s innovative model marks a meaningful step in WGU’s mission to create pathways to opportunity for our students, while addressing the needs of our talent economy.”

How it works

Partner employers like Central Health pay into the ReNEW Fund upon the hire and retention of WGU graduates, covering individual graduates’ loan repayment obligations during employment. Participants who do not work for partner employers repay their zero-interest loans only if they secure a job above a minimum salary. All payments are reinvested into the ReNEW Fund to help support future students, creating a “pay it forward” funding structure that allows philanthropic supporters to see their dollars reach more people than they would with one-time scholarships.

“We created the ReNEW Fund to address a broken system—one where aspiring nurses typically bear the risk of upskilling, while employers struggle to fill critical roles. This Pay It Forward model realigns incentives to benefit learners, employers and communities. All repayments from employers and workers support the next generation of students,” said Tracy Palandjian, CEO & co-founder of Social Finance. “It’s a powerful example of how we can rewire the way we finance opportunity in America.”

Annually, the U.S. experiences a shortage of 30,000 to 40,000 registered nurses relative to how many enter the field. The ReNEW Fund seeks to scale nursing education and fill critical workforce gaps with net new nurses to provide better health outcomes across communities. WGU offers a flexible, online delivery model of higher education in all 50 states. The BSN Prelicensure program is currently available in 24 states with more expected in coming months, enabling participating employer partners to train and retain local talent.

Interested partners and employers can learn more about the ReNEW Fund at wgu.edu/renew or at socialfinance.org/renew.