Bill B, ADTC Career Impact Bond Student

For Bill, Five Weeks of Training Was the Key to Economic Mobility

Impact Investments, Economic Mobility, Education

IMPACT

A $10,000 salary increase and a new career path

This story has been adapted from The New York Times.

In 2020, Bill saw an ad on Facebook for American Diesel Training Centers (ADTC), an Ohio school that prepares people for careers as diesel technicians—an in-demand occupation facing labor shortages across the country. Through a partnership with Social Finance, Bill would pay for the schooling only if it landed him a job, thanks to a student-friendly financing agreement called the Career Impact Bond, designed to help students upskill with minimal financial risk.

Bill signed up for ADTC’s immersive five-week program, graduated, and quickly found a job at U.S. Xpress, a national freight-hauling trucker, with a starting pay of $39,000 a year—about $10,000 more than he made before as a cable TV installer. He also received a $2,000 signing bonus and a relocation fee.

“I figured this was my best opportunity to succeed,” he told The New York Times in the spring of 2021.

Photo courtesy of Brian Kaiser for The New York Times.

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