State of Maryland and Social Finance Announce Maryland Pay It Forward Fund to Strengthen Maryland’s Nursing Workforce

ANNAPOLIS, MD AND BOSTON, MA (August 20, 2026) - Governor Wes Moore and Social Finance today announced the launch of the Maryland Pay It Forward Fund: a public-philanthropic initiative designed to expand Maryland's healthcare workforce at a moment of critical need by supporting aspiring nurses.

The $3 million fund is seeded by $2 million from the State's Talent Innovation Fund and unlocks an additional $1 million in philanthropic funding from Blue Meridian Partners, which brings together philanthropists to fund and scale solutions that propel economic and social mobility for America's young people and families. The Fund offers zero-percent interest loans to students in Associate Degree in Nursing (ADN) programs to support their successful degree completion. This initiative is expected to help 80 nursing students in its first year, and more beyond the pilot phase.

"Our administration is committed to building pathways to work, wages and wealth for individuals who aspire to care for Maryland's community health needs, because nurses are our state's frontline defense in providing affordable, accessible and quality healthcare," said Gov. Moore. "This partnership with Social Finance aids our work to build a stronger pipeline by breaking barriers to entry and ensuring aspiring nurses are given the aid they need to achieve their goals in serving our communities."

"Cost shouldn't stand in the way of talented Marylanders who want to become nurses and serve their communities," said Maryland Department of Labor Secretary Wu. "The Maryland Pay It Forward Fund tackles this challenge head-on by helping nursing students to cover their tuition and day-to-day expenses so they can finish their degree. This is an investment in Marylanders who want to build a better future for themselves while strengthening healthcare for all of us."

Maryland's healthcare system is facing a significant and persistent nursing shortage-with around 7,000 open positions and high turnover making future shortages more likely. Employers across the state report competitive starting salaries that reflect the urgency. Yet the pipeline of new nurses remains constrained due to financial barriers that prevent capable individuals from pursuing their training.

For many aspiring nurses, the combination of tuition costs, living expenses, and limited access to affordable financing makes pursuing a nursing career out of reach-even when ADN programs are otherwise accessible. The Maryland Pay It Forward Fund is designed to close this gap.

"I've seen firsthand how financial pressure keeps talented, capable people from completing their nursing degrees, even when they have what it takes to succeed," said Inez Stewart, member of the Governor's Workforce Development Board and CHRO at Johns Hopkins Medicine. "The Maryland Pay It Forward Fund tackles that barrier directly. We understand what a strong nursing pipeline means for patient care and for our economy, and we're glad to see Maryland investing in new pathways for tomorrow's nurses."

Two forms of financial support are available to Maryland Pay It Forward Fund loan recipients. Tuition gap loans will cover up to $5,000 of remaining tuition and fees after scholarships and financial aid have been applied. Living expense loans will help students pay for transportation, child care, housing, and other essential expenses that often make it hard for students to complete their program. The Maryland Pay It Forward Fund living expense loan will cover up to $500 per month for qualifying individuals' living expenses (up to $12,000 over the two-year program).

Loans through the Maryland Pay It Forward Fund are designed to be learner-friendly. Borrowers will only be obligated to make payments once they are earning more than $50,000 annually after program completion.

"Maryland is investing in the people its healthcare system depends on," said Tracy Palandjian, CEO and Co-Founder of Social Finance. "By pairing zero-interest loans with meaningful living expense support, the Maryland Pay It Forward Fund addresses the full picture of what can keep a nursing degree out of reach for residents who could otherwise succeed in this field. We're grateful to the State of Maryland and Blue Meridian Partners for their partnership in bringing this model to Maryland."

"The Maryland Pay It Forward Fund is an exemplary public-private partnership-one that provides individual opportunity and fills a critical societal need," said Jim Shelton, CEO of Blue Meridian Partners. "Blue Meridian's investment in creating pathways for aspiring nurses in Maryland is a model for how creating opportunities for individuals and families can help build stronger communities."

In the 2026-2027 academic year, the program will begin with a pilot supporting learners at the Community College of Baltimore County. To learn more about the Maryland Pay It Forward Fund, visit the program page or contact CCBC Financial Aid.

"As the first community college in Maryland to participate in the Pay It Forward Fund pilot, CCBC is honored to help launch an innovative approach to supporting future nurses," said CCBC President Sandra Kurtinitis. "Too often, students with the talent and determination to succeed in nursing face financial challenges that make program completion more difficult. This initiative provides meaningful, supportive assistance with both educational and living expenses, allowing students to focus on their studies and persist to graduation."

The Maryland Pay It Forward Fund focuses on ADN programs because they offer a two-year pathway to registered nurse credentials, accelerating entry into the workforce and providing an on-ramp for a future bachelor of science in nursing. The Fund complements other investments that are building pathways into nursing in Maryland, such as licensed practical nurse apprenticeship programs and health occupation training through EARN Maryland. Under the Moore-Miller Administration, EARN has provided nearly $7.5 million in funding to support training for certified nursing assistants, patient care technicians, and other in-demand health occupations.

The working group that developed this fund included representatives of the Governor's Executive Office, Governor's Workforce Development Board, Maryland Department of Labor, Governor's Office for Children, Maryland Department of Health, and Maryland Higher Education Commission.

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The Maryland Department of Labor
The Maryland Department of Labor (MD Labor) strives to create an equitable and inclusive Maryland where all residents have the opportunities and resources to attain financial stability, reach their career potential, and contribute to their communities; where businesses have access to capital and the skilled workforce they need to succeed; where workplaces are safe and well-regulated; and where the economy is resilient and growing. For updates and information, follow MD Labor on LinkedIn, Instagram, Facebook, and visit our website.

About the Governor's Workforce Development Board
The Governor's Workforce Development Board (GWDB) serves as the governor's chief policy-making body for workforce development. The GWDB is an industry-led board that engages key business, labor, education, community, and State and local government leaders to collaborate and advise the Governor on business-led workforce development strategies that advance Maryland's economic competitiveness and build pathways to work, wages and wealth. For updates and information, follow the GWDB on LinkedIn and visit our website.

About Social Finance
Social Finance is a national nonprofit and registered investment adviser. We bring government, philanthropy, and business leaders together to put capital to work in new ways to improve systems and expand opportunity. Since our founding in 2011, we have mobilized more than $500 million in investments to create measurable results in workforce and education, health, and housing. Learn more at socialfinance.org.