New Economy Workforce Credential Grant
Note: This page is for institutions offering the program. If you are a student seeking additional information, see our webpage for students.
During the 2016 session, the General Assembly passed HB 66 which established the New Economy Workforce Grant Program. This grant program, the first of its kind, provides a pay-for-performance model for funding noncredit workforce training that leads to a credential in a high demand field. The program also includes requirements for students to complete the program in order to avoid paying additional costs. A summary of the major key components of the program are included below:
- Funds may be provided to eligible institutions for non-credit training that leads to a workforce credential in a high demand field.
- Eligible institutions include community colleges, higher education centers and Richard Bland College
- Award amount is $5million in the first year and $7.5 million in the second year and awarded on a first-come, first-served basis
- Non-credit training programs should align with the high demand fields set by the Virginia Board for Workforce Development
- Students are required to pay one-third of the total cost of the program upon enrollment. Students may use third party funds, such as noncredit financial aid, training vouchers or employer payment to cover this cost.
- If the student completes the training, then the state provides one-third of the cost of the program, up to $1,500 to institution. If the student does not complete the program, then the student is required to pay this portion of the total cost
- If the student satisfactorily completes the workforce credential after completing the training, then the institution receives the remaining one-third of the cost of the program up to $1,500. The combined maximum award to an institution is $3,000 for completion of training and a credential
- Institutions must provide student-level data to SCHEV to receive funding
- SCHEV is responsible for administering the program, conducting periodic assessment of the program, collecting student data, and making final decisions on disputes between eligible institutions and grant recipient
For a list of approved high-demand occupations and aligned programs offered, please visit:
Community colleges across Virginia and the Southern Virginia Higher Education Center currently are offering these programs. Additional providers may join later.
For information on current offerings see the links below:
Virginia Community College System: Go to www.vccs.edu and follow the links under the workforce tab.
Southern Virginia Higher Education Center: Please visit www.svhec.org/workforce for more information.