The Reinvesting in Nursing Education and Workforce (ReNEW) Fund addresses the national nursing shortage by financing a pipeline of new nursing graduates
WGU, Social Finance, Central Health
SALT LAKE CITY, AUSTIN, BOSTON, May 21, 2025 (GLOBE NEWSWIRE) — 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.
About WGU
Western Governors University, the nation’s leading nonprofit online university, is transforming higher education to be more student-centric, affordable, accessible to all and relevant to the workforce. Established in 1997 by 19 visionary U.S. governors, WGU creates life-changing pathways to opportunity for those underserved by traditional institutions — working adults, historically underrepresented communities and a diverse, growing number of learners looking for a flexible, online model that better suits their life circumstances. WGU’s competency-based education model allows students to demonstrate mastery as they progress through programs at their own pace. Accredited by the Northwest Commission on Colleges and Universities, WGU operates in all 50 states and offers more than 80 programs in health, education, technology and business. WGU serves more than 190,000 students nationwide, with more than 370,000 alumni, and has awarded more than 420,000 degrees. Learn more at wgu.edu.
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 Central Health
Created by voters in 2004, Central Health is Travis County’s hospital district. Central Health provides care and coverage for about 1 in 8 Travis County residents — more than 170,000 people with low income. Guided by a strategic plan, which was developed with extensive community input and adopted in 2022, Central Health is investing more than $800 million to create a high-functioning, comprehensive, and equitable safety-net system in Travis County. This vision reflects the commitment of the Central Health system, which includes CommUnityCare Health Centers and Sendero Health Plans, a nonprofit insurance company, along with dozens of community partners, to the residents of Travis County.
Attachment
- WGU, Social Finance, Central Health
CONTACT: Jeff Chandler Western Governors University 3852251207 jeff.chandler@wgu.edu Abby Silverman Social Finance 9782733875 asilverman@socialfinance.org Mike McKinnon Central Health 5129788167 mike.mckinnon@centralhealth.net
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