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ND Career Builders Scholarship & Loan Repayment

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Presentation on theme: "ND Career Builders Scholarship & Loan Repayment"— Presentation transcript:

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2 ND Career Builders Scholarship & Loan Repayment
The 2019 Legislative Assembly created two new skilled workforce programs designed to recruit individuals into “high need and emerging occupations” in the state. This is a program to fill and grow ND’s workforce needs. Referred to as: “ND Career Builders Scholarship & Loan Repayment” Two components – Individuals may qualify for only one program, not both. 1. Scholarship 2. Loan Repayment

3 ND Career Builders Scholarship & Loan Repayment
Qualifying Programs High Need and Emerging Occupations Qualifying educational programs in the state are mapped to the qualifying occupations Certificate or degree can be earned at the public/private/tribal colleges in ND Short certificate or degree programs that can be completed in around 2 years or less Goal: Individuals are trained and in the workforce in a short time. 175 eligible “program” in ND 14 institutions Workforce Development Council (WFDC) and ND Job Service establish Qualifying occupations relate to high need jobs and emerging occupations in the state 75 Occupations 62 Occupations have eligible certificates or degrees

4 ND Career Builders Scholarship & Loan Repayment
Public/Private Match – Partnership among business and the state $3M Bank of ND funding for scholarship $3M Bank of ND funding for loan repayment The NDUS may only disburse state funds for either program to the extent that $1 of private- sector matching dollars has been received for each $1 of state funds Institutions, business and applicants become the “recruiters” for the private-sector matching funds NDUS is the pass-through for all program funds (public and private funds) Donations Donation form is available on the website and must accompany all funds sent to NDUS for the programs. Businesses – May designate funds to one or both programs, specific institutions, specific programs, or specific recipients. Individuals – May designate funds to one or both programs, specific institutions or specific programs. Once donations are remitted, a return of funds may not be requested. Donations that flow through an institution will be forwarded to NDUS for deposit into the appropriate fund, or donors may send funds directly to NDUS. Contact tax preparer for tax implications of a donation to a state-sponsored program. If designating specific recipient, a donation is not tax deductible.

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Student eligibility: Admitted to a qualifying program (refer to “list”) Maintain full time enrollment and 2.5 cumulative college GPA or other academic progress Total per recipient: Not to exceed $17,000 for tuition, fees, books and supplies Institution seeks “matching” private-sector dollars Scholarship Award Agreement – legally binding to the student Student has legal obligation to live and work (in a high need or emerging occupation) in ND for at least 3 years following degree completion or will be required to repay funds received. Students who withdraw (voluntarily or involuntarily) from a program prior to completion will have to repay funds. Students who are not maintaining academic progress may have to repay funds.

6 Student Obligation - SCHOLARSHIP
ND Career Builders Scholarship & Loan Repayment Student Obligation - SCHOLARSHIP Student Award Agreement – legally binding Student must repay funds if the terms of the Agreement are not met Agree to use funds only for tuition, fees, books and supplies Agree to maintain full time enrollment and academic progress Agree to repay funds if withdraw from program, either voluntarily or involuntarily Agree to begin employment within 6 months of program completion and complete employment obligation within 48 months of program completion Agree to live and work (in a high need or emerging occupation) in the state for 3 years following program completion

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Graduates newly hired in 2019 into qualifying positions (refer to “list”) Must live and work (in a high need or emerging occupation) in ND Provide proof of qualifying degree (must be from a ND institution), employment, residency and student loan NDUS will pay the loan servicer no more than quarterly but at least annually. Verification of eligibility will be verified with each payment with the employee and the employer. Employer or other business entity must commit to funding the “matching” private sector dollars. Total eligibility not to exceed $17,000 total $5,667 per year or 1/3 of outstanding student loan principal balance, which ever is less Eligible loan must be a STUDENT loan Loans that are not “student” loans will not be considered. (ie. home equity, credit card, other consolidated loan that is no longer a “student” loan)

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How to Apply? Scholarship Students begin the process by applying for the scholarship at the institution. Institution will guide the student through the electronic application process. Loan Repayment Employers commit to supporting loan repayment for new hires. Employers visit with job recruits about the program. Paper application filled out by employer/employee and mailed into NDUS. Applications located on the website NDUS.edu/career-builders/

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“Reside” in North Dakota? Yes, both the scholarship and the loan repayment programs require participants to “reside” in ND. Scholarship = Must reside in ND and work in ND (in a high demand or emerging occupation) within 6 months of program completion. This requirement is for 3 years. Loan Repayment = Must reside in ND and work in ND (in a high demand or emerging occupation). Will be verified prior to each payment.

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Program Marketing Quick Facts Sheet FAQ Scholarship & Loan Repayment Applications Qualifying High Need & Emerging Occupations / Programs List Donation Form PPT

11 ND Career Builders Scholarship & Loan Repayment
Program Administrator QUESTIONS?? Brenda Zastoupil Lisa Johnson


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