VSAC will transfer the servicing of your Federal Student loans to American Education Services and the guarantee of all VSAC Federal Student loans to the Trellis Company, an approved Federal Guaranty Agency, over the weekend of March 16th. Click here for more information.
Pursue a career in skilled trades — tuition free
A program for training and certification in select high-demand sectors
Funded by the Vermont Legislature, the new Vermont Trades Scholarship Forgivable Loan Program covers up to full tuition, initial licensing fees and exam fees for qualified recipients enrolled in industry-recognized training and certification programs that lead to a career in select building, mechanical, industrial or medical trades; emergency services; energy including clean energy, energy efficiency or weatherization; transportation; broadband; robotics and other high-demand sectors.
Funding is awarded to qualifying applicants with financial need on a first-come, first-served basis until all funds have been depleted.
Applicants must register with the VT Department of Labor for the purpose of receiving relevant job referrals, if unemployed.
Awards are in the form of an interest-free loan which is forgiven when the recipient signs a promissory note and has completed the following work obligations:
- Agree to work full-time in their profession in VT for a minimum of one year following licensure or certification completion for each year of funding received
WHO IS ELIGIBLE?
- Vermont & non-Vermont residents
- Able to demonstrate financial need
- Enrolled in industry recognized training and certification program that leads to initial employment or career advancement in a building, mechanical, industrial or medical trade; emergency services, including paramedics; energy, including clean energy, energy efficiency, or weatherization; transportation, including clean transportation; broadband; robotics or other high demand sectors
- Committed to registering with VT Department of Labor for the purpose of receiving relevant job referrals, if unemployed
Note: Preference will be given to students enrolled in a Vermont-based training program.
HOW MUCH IS THE AWARD?
Full tuition (excluding fees, books, and supplies) charged up to $23,000. This award can be used to pay for tuition, initial licensing fees, and exam fees.
IF I’M UNEMPLOYED, WHY DO I HAVE TO REGISTER WITH THE VERMONT DEPARTMENT OF LABOR?
In addition to funding to pay for tuition, exams, and licensing, you also qualify for additional help from the State of Vermont. A career counselor from the Department of Labor will assist you in a job search and placement with an employer when your training program is complete. If you don't have a Vermont Job Link account, someone from the Vermont Department of Labor will reach out to you to get started.
HOW DO I APPLY?
- For detailed information about the forgivable loan and the application process, review the Scholarships for Vermonters booklet.
- Complete the Unified Scholarship Application online through your MyVSAC account, click on Work with VSAC-Assisted Scholarships, look for “Submit Application” and “Unified Scholarship Application (USA)” and follow the instructions.
- Provide family income information as specified in the application instructions
- If selected as a recipient by the selection committee, recipients sign a promissory note when they accept funding that commits them to the following work arrangements. The loan will be forgiven when the work obligation is met:
- Agree to work full-time in their profession in VT for a minimum of one year following licensure or certification completion for each year of funding received.
WHEN SHOULD I APPLY?
Applications are accepted and reviewed on a rolling basis until all funds have been awarded.
WHAT IS AN INTEREST-FREE FORGIVABLE LOAN?
The State of Vermont offers several forgivable loan programs to encourage students to enter the Vermont workforce in specific high-demand fields. These unique loans:
- Are interest-free
- Require awarded students to sign a promissory note committing to specific work obligations when they accept the funding
- Do not require payment while the student is enrolled in the applicable degree or training program
- Are “forgiven” — which means that the loan does not have to be paid back — when the student meets the work obligations outlined in the promissory note they signed
- Must be repaid if the student doesn't complete the program, doesn't receive their license, or doesn't work in the field in Vermont following licensure
For example: Mary received $16,000 in a nursing forgivable loan program to study nursing at Vermont Tech for her senior year. Upon completion of the program, Mary took her nursing exams and received her license and began working as a nurse in Vermont. One year later her employment was verified, and the loan was forgiven!
IS OTHER FUNDING AVAILABLE?
- about the application or status? Contact VSAC or call 888-253-4819.