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Education Rewards Loan Program MOSES Overview Massachusetts Department of Workforce Development Division of Career Services 2005
Education Rewards Loan Program MOSES Overview
Massachusetts Department of Workforce DevelopmentDivision of Career Services
2005
Agenda
Introductions Overview of
Education Rewards Loan Program MOSES Update Massachusetts Educational Financing Authority
(MEFA) Frequently Asked Questions
Objectives of Education Rewards Loan Program
Provide loans through Massachusetts Educational Financing Authority (MEFA) for training in occupations with a high number of vacancies.
$500 minimum loan, $10,000 maximum loan through MEFA Interest rate is 7.79% 10 year repayment term; can defer payments during
training and 6 months after graduation (interest accrues) $1,000,000 loan funds available for pilot 200-300 expected enrollees [100-1000 potential]
Objectives of Education Rewards Loan Program
Targeted for students interested in enrolling in non-degree programs (resulting in certification, credential, or license) or enrolling in less than half-time in Associate Degree programs (who normally are not eligible for post secondary financial aid programs).
Provide additional opportunities for Career Center customers who are looking for resources to obtain training to improve occupational skills.
Objectives of Education Rewards Loan Program
Target students - People seeking training in non-degree programs that result in an industry recognized certification, credential, or license or students enrolling less than half-time in Associate Degree programs (who normally are not eligible for post secondary financial aid programs).
Eligibility – All residents of the Commonwealth are eligible for an Education Rewards loan if they wish to pursue training in one of the identified occupational areas through an approved vendor. Students must meet any training program prerequisites currently required by the vendor (i.e. HS Diploma, Prior course or certification, etc.)
Priority – Although there is no required priority for applicants, One-Stop Career Center customers, primarily the unemployed, will have the first opportunity to access the Education Rewards Loan as the program will be promoted at OSCCs first and applications must be obtained and filled out with a counselor.
Program Eligibility
Customer
•Resident of Massachusetts
•Enrollment in approved training course which will lead to a recognized:
•Certificate•License•Industry-recognized credentials •Associate Degree (enrolled < ½ time)
• Credit history check
•Program for targeted vocational area (occupations with vacancies) that leads to a recognized:
•Certificate•License•Industry-recognized credential•Associate Degree
•Vendor is a non-profit institution
•Program a minimum of 32 hours
•Financial Aid capacity to work with MEFA
Vendor/Training Program
Sample of Occupations with High Vacancies
Handouts in packet with complete listsUpdated twice a year
Real Estate Sales Agents
Legal Secretaries
Medical Secretaries
Desktop Publishers
Carpenters
Plumbers, Pipe fitters, and Steamfitters
Operating Engineers and Other Construction Equipment Operators
Construction Laborers
Electricians
Glaziers
Painters, Construction and Maintenance
Sheet Metal Workers
Hazardous Materials Removal Workers
Personal Care and Service Hairdressers, Hairstylists, and
Cosmetologists Manicurists and Pedicurists Fitness Trainers and Aerobics
Instructors Other Industries Appraisers and Assessors of Real
Estate Paralegals and Legal Assistants Broadcast Technicians Sound Engineering Technicians Chefs and Head Cooks Travel Agents
Career Center Interaction with Applicants
APPLICATIONS ONLY AVAILABLE AT OSCCS - This is a OSCC Program. Participants must visit a OSCC and meet with a counselor to obtain a loan
application.At a minimum Counselors should:
1) Orient interested students to the program – including a level of service appropriate to the client (i.e. universal, UI recipient, NEG eligible, etc.)
2) Help Student evaluate appropriateness of loan or other funding
3) Direct students to Occupation list and training programs on website through the resource room computers
4) Collect pre-training questions
5) Tell applicant about the evaluation process
6) Assist with the filling out of the application if necessary
7) Sign off on Loan Application that program is on our approved list
2004-2005 Education Rewards Program PROCESS
Website
www.mass.gov/educationrewards
Additional Questions?
www.mass.gov/educationrewards
Special Programs – ITA Issues
If ITA funds are exhausted or additional funds are needed beyond the ITA cap to pay for desired training within the identified occupation list, the customer should be informed that they can access the Education Rewards Loan Program as an alternative or a supplement to an ITA award.
Special Programs – Section 30
Section 30 Remind Unemployment Insurance Customers of the 15 week
timeline to apply for approved training and the Section 30 program requirements.
Special Programs - Trade
If a customer, is Trade Eligible, receives a loan and makes a payment to a vendor they
may affect their eligibility for TAA training benefits.
MOSES Updates
Job Seeker Tab
Job Seeker Membership – Basic Tab
No Changes to Full Tab
Program Status Definitions
Customer Decides to Apply
Education Rewards Loan Program Application Filled Out
APPLICATION PENDING
ENROLLED Credit approved
Enter Start date for Course
APPLICATION NOT APPROVEDCredit Not Approved
EXITEDCompleted Course
12 Month Follow Up
Eligibility Tab
No Changes to Eligibility Criteria Tabs
Work Experience Details
No Changes to Education Tab
Services – Course/Activity TabCourse Enrollment – Application Pending
When you enter an Education Rewards Loan Program Course
Services – Course/Activity TabCourse Enrollment – Application Approved
Services – Employment TabEmployment Services Detail
Information Provided by MEFA and sent to Career Center
MOSES Updates
Training Tab
Education Rewards Loan Program Course Search
Basic
Note New Tabs
Additional Info
Schedule
No changes to Performance, Costs and Youth Worksites Tabs
Targeted Occupations
Approved Occupations for Education Rewards Loan Program
Program Courses
Lists all courses in the program
Provider Tab
No changes to Provider tab
MOSES Questions and Help
MOSES MEFA Handout (in packet)
MOSES Local Expert or Career Center Supervisor in your office
MOSES Help Desk 617-626-5656 [email protected]
MOSES Training Staff Greg Bunn, MOSES Training Specialist, [email protected] Tom Cartier, MOSES Training Specialist, [email protected] Leslie Mark, MOSES Training Specialist, [email protected]
Massachusetts JobQuest Website
Public Training ProgramCourse Search
and Course Information
Massachusetts JobQuest Training Course Search
Training Program/Course Search
Approved Course Type Search
Occupations Search
The List of Courses
Program/Course Overview
General Information
Occupations (SOC codes)
Courses in Program
Placement History
MJQ Customer Survey Information
TrainingPro
Training Vendor Registration On-Line
TrainingPro
Vendor Questions and Help
TrainingPro Help Mark Shore, the TrainingPro help desk at 617-626-5003 or
Program / Course Approvals William McClory
[email protected] Training Opportunities ProgramDivision of Unemployment Assistance19 Staniford Street, 4th floorBoston, MA 02114617-626-5375
DCS Website http://www.detma.org/tploanprogram.htm
General Questions
Program Questions Alice Sweeney
[email protected] CAREER CENTER Division of Career Services STAFF ONLY19 Staniford StreetBoston, MA 02114617-626-6449
Your Career Center manager
Massachusetts Educational Financing Authority (MEFA)
www.mefa.org
2004-2005 Education Rewards Program ORIGINATION PROCESS
The Application
A one-page loan application
Frequently Asked Questions
How much can I borrow? How is the interest rate determined? What is the value of a co-applicant? What items would cause an applicant to be denied a
loan? Does interest accrue while the borrower is in school? What happens if the borrower defaults? Can the loan be forgiven under any circumstance? Can the borrower prepay? What is the length of
repayment?
MEFA Contact / Help Information
1-800-842-1531 1-800-266-0243extension 504
Or [email protected] Staff For Customer
Additional Questions?
www.mass.gov/educationrewards
