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 moses@detma.org

MOSES Training Staff Greg Bunn, MOSES Training Specialist, gbunn@detma.org Tom Cartier, MOSES Training Specialist, tcartier@detma.org Leslie Mark, MOSES Training Specialist, lmark@detma.org

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

mshore@detma.org

Program / Course Approvals William McClory

wmcclory@detma.org 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

asweeney@detma.org 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 info@mefa.orgFor Staff For Customer

Additional Questions?

www.mass.gov/educationrewards