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FinWise Bank loans made available to you through the Clasp Platform are not endorsed by New Leaders, Inc or St. Francis College.
You've made it this far. We've got the rest.
You're this close to becoming the leader New York's students need. Don't let a funding gap stop you now. With New Leaders and St. Francis College, you can finish strong, no cosigner required.
Apply NowHow It Works
The New Leaders NCL Program made available through the Clasp Platform¹ offers flexible financing without a cosigner and 100% in-school deferral so you can focus entirely on your studies and career development.
Enroll with St. Francis College
Get accepted into a St. Francis program.
Apply for a No Cosigner Loan²
Complete the application on the Clasp Platform¹. You'll need your program name and cohort date, your amount of need, and a reference contact.
Focus on learning
Focus entirely on your studies and career development. Payments are fully deferred while you are in school.
12 month grace period
Take a full 12 months after you graduate before your first payment is due. Breathing room to get settled and find your footing. No pressure the moment you leave.³
Why We Built This
Too many great educators never reach the classroom, stopped by a funding gap at the worst possible moment, not a lack of talent or drive.
We built this with New Leaders and St. Francis College because their mission is ours: preparing equity-minded teachers who help New York's students succeed. And we dropped the cosigner requirement, because needing one quietly screens out the very educators those students need most.
You've done the hard part. We're here to make the finish line reachable.
Get to know the numbers
No surprise amounts, just pay back what you borrowed³,⁴.
A fixed repayment schedule, allowing you to plan for the future.
12 months before repayment begins. Focus on getting a great job, not making payments.
New Leaders Loan Forgiveness Program⁵,⁶
Upon achieving the following milestones- your loan may be forgiven:
- Graduation from an Eligible degree program
- Obtain Teaching Certification within one year of program completion
- Complete 3 years of Eligible Employment as a full-time teacher at a Qualifying School
Frequently Asked Questions
¹ Clasp is not a bank. Loans are issued by FinWise Bank, a Utah-chartered bank, Member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.
² There is no credit check required to receive a quote. If you choose to submit an application for funding, a hard credit pull will be performed at that time. Your credit score or history isn't the only thing that decides your approval or denial, but your credit will be checked.
³ The 0.00% interest rate is fixed at the time of application and does not change during the life of the loan. The Interest Rate may be lower or higher than your Annual Percentage Rate (“APR”) because the APR includes the Interest Rate, Applicable fees and whether payments are deferred while you are in school.
This repayment example assumes a $6,250.00 loan (the maximum loan amount) for a Bachelors - Child Education (Dual Certification in Special Ed & Grades 1-6) disbursed in two equal disbursements during the academic year, with a fixed Interest Rate of 0.00%, a 84-month repayment term, and a 45-month in-school period followed by a 12-month grace period. No interest accrues during the in-school and grace periods. Because the interest rate is 0.00%, no interest is capitalized at the end of the grace period. For a $6,250.00 loan: 84 monthly payments of $74.40 for a total repayment of $6,250.00 . The APR for this loan is 0.00%. NOTE: The final payment may be more or less than this amount.
⁴ The 0.00% interest rate is fixed at the time of application and does not change during the life of the loan. The Interest Rate may be lower of higher than your Annual Percentage Rate (“APR”) because the APR includes the Interest Rate, Applicable fees and whether payments are deferred while you are in school.
This repayment example assumes a $15,000.00 loan (the maximum loan amount) for a Masters - Special Education disbursed in two equal disbursements during the academic year, with a fixed Interest Rate of 0.00%, a 84-month repayment term, and a 21-month in-school period followed by a 12-month grace period. No interest accrues during the in-school and grace periods. Because the interest rate is 0.00%, no interest is capitalized at the end of the grace period. For a $15,000.00 loan: 84 monthly payments of $178.57 for a total repayment of $15,000.00. The APR for this loan is 0.00%. NOTE: The final payment may be more or less than this amount.
⁵ You may be subject to income tax related to the New Leaders, Inc. loan forgiveness program, and should therefore consult with a tax professional if you have any questions regarding any such debt forgiveness, should it apply to your loan.
⁶ For further information regarding these requirements, please contact New Leaders, Inc.
Valid as of June 16, 2026.