Education Rewards Loan Program MOSES Overview

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Education Rewards Loan Program MOSES Overview

• Massachusetts Department of Workforce Development
• Division of Career Services
• 2005

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Agenda

• Introductions
• Overview of Education Rewards Loan Program
• MOSES Update
• Massachusetts Educational Financing Authority
  (MEFA)
• Frequently Asked Questions

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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

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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.

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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.

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Program Eligibility
Customer
Vendor/Training Program

• 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

• Resident of Massachusetts
• Enrollment in approved training course which will
  lead to a recognized
• Certificate
• License
• Industry-recognized credentials
• Associate Degree (enrolled lt ½ time)
• Credit history check

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Sample of Occupations with High Vacancies

• 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

Handouts in packet with complete lists Updated
twice a year
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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
• Orient interested students to the program
  including a level of service appropriate to the
  client (i.e. universal, UI recipient, NEG
  eligible, etc.)
• Help Student evaluate appropriateness of loan or
  other funding
• Direct students to Occupation list and training
  programs on website through the resource room
  computers
• Collect pre-training questions
• Tell applicant about the evaluation process
• Assist with the filling out of the application if
  necessary
• Sign off on Loan Application that program is on
  our approved list

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2004-2005 Education Rewards Program PROCESS
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Website

• www.mass.gov/educationrewards

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Additional Questions?

• www.mass.gov/educationrewards

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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.

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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.

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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.
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MOSES UpdatesJob Seeker Tab
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Job Seeker Membership Basic Tab
No Changes to Full Tab
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Program Status Definitions
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Eligibility Tab
No Changes to Eligibility Criteria Tabs
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Work Experience Details
No Changes to Education Tab
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Services Course/Activity TabCourse Enrollment
Application Pending
When you enter an Education Rewards Loan Program
Course
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Services Course/Activity TabCourse Enrollment
Application Approved
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Services Employment TabEmployment Services
Detail
Information Provided by MEFA and sent to Career
Center
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MOSES Updates Training Tab
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Education Rewards Loan Program Course Search
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Basic
Note New Tabs
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Additional Info
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Schedule
No changes to Performance, Costs and Youth
Worksites Tabs
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Targeted Occupations
Approved Occupations for Education Rewards Loan
Program
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Program Courses
Lists all courses in the program
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Provider Tab
No changes to Provider tab
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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_at_detma.org
• MOSES Training Staff
• Greg Bunn, MOSES Training Specialist,
  gbunn_at_detma.org
• Tom Cartier, MOSES Training Specialist,
  tcartier_at_detma.org
• Leslie Mark, MOSES Training Specialist,
  lmark_at_detma.org

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Massachusetts JobQuest Website Public Training
ProgramCourse Searchand Course Information
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Massachusetts JobQuest Training Course Search
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Training Program/Course Search
Approved Course Type Search
Occupations Search
The List of Courses
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Program/Course Overview
General Information
Occupations (SOC codes)
Courses in Program
Placement History
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MJQ Customer Survey Information
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TrainingProTraining Vendor Registration On-Line
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TrainingPro
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Vendor Questions and Help

• TrainingPro Help
• Mark Shore, the TrainingPro help desk at
  617-626-5003 or mshore_at_detma.org
• Program / Course Approvals
• William McClory
• wmcclory_at_detma.org
• Training Opportunities ProgramDivision of
  Unemployment Assistance19 Staniford Street, 4th
  floorBoston, MA 02114617-626-5375
• DCS Website
• http//www.detma.org/tploanprogram.htm

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General Questions

• Program Questions
• Alice Sweeney
• asweeney_at_detma.org CAREER CENTER Division of
  Career Services STAFF
  ONLY19 Staniford StreetBoston, MA
  02114617-626-6449
• Your Career Center manager

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Massachusetts Educational Financing Authority
(MEFA)
www.mefa.org
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2004-2005 Education Rewards Program ORIGINATION
PROCESS
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The Application
A one-page loan application
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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?

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MEFA Contact / Help Information
1-800-842-1531 1-800-266-0243 extension 504 Or
info_at_mefa.org For Staff For Customer
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Additional Questions?

• www.mass.gov/educationrewards