Education Rewards Loan Program MOSES Overview

1. Education Rewards Loan Program MOSES Overview Massachusetts Department of Workforce Development Division of Career Services 2005

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

3. 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]

4. 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.

5. 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.

6. 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 < ½ time) • Credit history check

7. 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

8. 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

9. 2004-2005 Education Rewards Program PROCESS

10. Website www.mass.gov/educationrewards

11. Additional Questions? www.mass.gov/educationrewards

12. 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.

13. 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.

14. 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.

15. MOSES UpdatesJob Seeker Tab

16. Job Seeker Membership – Basic Tab No Changes to Full Tab

17. Program Status Definitions

18. Eligibility Tab No Changes to Eligibility Criteria Tabs

19. Work Experience Details No Changes to Education Tab

20. Services – Course/Activity TabCourse Enrollment – Application Pending When you enter an Education Rewards Loan Program Course

21. Services – Course/Activity TabCourse Enrollment – Application Approved

22. Services – Employment TabEmployment Services Detail Information Provided by MEFA and sent to Career Center

23. MOSES UpdatesTraining Tab

24. Education Rewards Loan Program Course Search

25. Basic Note New Tabs

26. Additional Info

27. Schedule No changes to Performance, Costs and Youth Worksites Tabs

28. Targeted Occupations Approved Occupations for Education Rewards Loan Program

29. Program Courses Lists all courses in the program

30. Provider Tab No changes to Provider tab

31. 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

32. Massachusetts JobQuest WebsitePublic Training ProgramCourse Searchand Course Information

33. Massachusetts JobQuest Training Course Search

34. Training Program/Course Search Approved Course Type Search Occupations Search The List of Courses

35. Program/Course Overview General Information Occupations (SOC codes) Courses in Program Placement History

36. MJQ Customer Survey Information

37. TrainingProTraining Vendor Registration On-Line

38. TrainingPro

39. 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

40. 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

41. Massachusetts Educational Financing Authority (MEFA) www.mefa.org

42. 2004-2005 Education Rewards Program ORIGINATION PROCESS

43. The Application A one-page loan application

44. 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?

45. MEFA Contact / Help Information 1-800-842-1531 1-800-266-0243 extension 504 Or info@mefa.org For Staff For Customer

46. Additional Questions? www.mass.gov/educationrewards