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Foreign Credential Recognition (FCR) Loans Pilot Project

Foreign Credential Recognition (FCR) Loans Pilot Project. Diana Delgado Figueroa , BBA , Interim Program Director S.U.C.C.E.S.S . Employment Services March 13, 2014. 2. History of S.U.C.C.E.S.S .

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Foreign Credential Recognition (FCR) Loans Pilot Project

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  1. Foreign Credential Recognition (FCR) Loans Pilot Project Diana Delgado Figueroa,BBA, Interim Program Director S.U.C.C.E.S.S. Employment Services March 13, 2014

  2. 2 History of S.U.C.C.E.S.S. Established in 1973 & incorporated in 1974 S.U.C.C.E.S.S. is the largest immigrant social services agency in British Columbia Mission: To Build Bridges, Harvest Diversity and Foster Integration Vision: A World of Multicultural Harmony

  3. 3 S.U.C.C.E.S.S.’ Client Service Model Organization Development Health, Wellness & Housing Career & Skills Development Adaptation & Integration Clients Community Engagement Information & Orientation Quality Improvement

  4. 4 Holistic Service Model • Language Services (ELSA) • Employment Services (IEES, ITTI, EPBC, FRC Loan Project) • Settlement Services • Labor Market • VCRC • Mentoring • Pre-landing Services (AEIP) • Arrival Services (CANN) • Pre-landing Services (AEIP) • Arrival Services (CANN)

  5. 5 Foreign Credential recognition (FCR) Loan Project Assisting Internationally Trained Professionals (ITP) return to their professional careers in Canada

  6. 6 FCR Loan Pilot Project • The FCR Loans Pilot Project consists of a implementation and outcome evaluation of a national program. • Program provides eligible internationally-trained professionals (ITPs) with microloans to help them pay for credentialing activities and living expenses as they work towards the assessment and recognition of their foreign credentials as a means of entry into the Canadian labour market.

  7. 7 9 pilot projects in Canada operating under different models • SEED Winnipeg Inc., in Manitoba; • WIL Employment Connections, in London, Ontario; • Association Communautaired’emprunt de Montréal (ACEM), in Québec; • New Brunswick Multicultural Council Inc.; • Canada Microcredit Educators Group, in Prince Edward Island; and • Immigrant Settlement and Integration Services, in Nova Scotia • S.U.C.C.E.S.S., in British Columbia; • Immigrant Access Fund, in Albertaand Saskatchewan

  8. 8 SUCCESS’ FCR Loan Project • Established as a bridging tool for ITPs undergoing the accreditation process. • Our project’s mandate is not only to provide financial assistance, but to also offer guidance, labour market resources and to be an encouragement to ITPs.

  9. Loans’ Administrator • ESDC • Vancity • TD Bank • S.U.C.C.E.S.S. Foundation 9 Public-Private Participation (PPP) Model • Immigrant Service Providers; • Professional Regulatory Bodies; • GovernmentFunded Programs • Industry Employers Contribution in kind FinancialManagement Commitment to Profession Loan Support Exam/Licensing Applications Registration & Foreign Credential Assessments Career Plan Training Needs

  10. 10 Project Advisory Committee BC Provincial Nominee Program

  11. 11 Eligibility Requirements • Canadian citizen or PR residing in BC • Proof of a professional credential/designation obtained in a foreign country • Deemed credit worthy and loan eligible for credentialing purposes • Have no or limited Canadian experience in the related field

  12. 12 Features & Benefits • Loan Amount: $1,500 - $15,000 • Interest Rate: Prime +1% • Grace Period: 6-months no interest • Repayment Schedule: 12-18-24 months

  13. Project Setup Feb 2012 13 Project Activities 1stFCR Outcome (Lawyer) 295 applicants approved Sep 2013 Nov 2012 Open to the public 1st Loan Repayment April 2012 May 2012 Jan 2013 364 applicants approved Loan Application Feb 2014

  14. 14 Clients Vs. Approved Loans • One client may have multiple loans to reduce the financial pressure 05 RN Prep Course Examination registration fees, CRNBC Examination , RN Practicing License Registered Nurse FCR Goal Achieved!! 04 03 GNIE Term 3 @ Kwantlen University Tuition fee Student fee, books 02 GNIE Term 2 @ Kwantlen University Tuition fee Student fee, books GNIE Term 1 @ Kwantlen University Tuition fee Student fee, books 01 IELTS prep course & test Document Verification $1,500 min ---------------------------------------------------------------------------- up to $15,000 max.

  15. 15 Benefits of Multiple Loans

  16. 16 Financial Resources

  17. 17

  18. 18 Current Statistics (as of Feb 24, 2014) Intake723 clients • 474loans approved; with364unique clients; • Total Loan Amount Approved: $2,225,687.16 • Average requested Loan Amount:$6,114.53 • Average monthly repayment amount: $299.87 • # of Delinquency: 4; # of Default: 0 • # of Full/partial repayment: 56

  19. 19 Country of Origin

  20. 20 Occupational Background

  21. 21 Project Outcomes Based on 364 clients with an approved loan (as of Feb 24, 2014): • Completed Credentialing & Employed in the field 33clients from the following professional backgrounds:Nurse, Lawyer, Doctor, Accountant • Employed in the field & pending credentialing completion= 74 clients

  22. 22 FCR 2013 Activities Client Support Group ITP Industry Liaison ITP Fair Your text here Extended Outreach Services Focus Group

  23. 23 Extended Outreach Service 95% of clients are Lower mainland residents 5% of clients reside outside Lower mainland

  24. 24 Industry Liaison Why should employers care about hiring skilled immigrants at all? • The Canadian-born workforce is shrinking and the demand for labour is growing. • ITPs can help Canadian companies do business with the world. • ITPs bring international expertise. • ITPs can give Canadian businesses an “in” into expanding local ethnic markets.

  25. 25 Industry Liaison Source: S.U.C.C.E.S.S FCR Loan Project’s Industry Liaison, Integration Strategy Report, 2013

  26. 26 Focus Group Goal: to better understand the barriers faced by ITPs beyond their financial challenges Methodology: 6 focus groups were held for ITPs in the Engineering, Finance/Accounting, Health Care and Legal sectors. A follow-up survey was sent to participants to complete

  27. 27

  28. 28 Most Difficult Aspect of FCR

  29. 29 Recommendations

  30. 30 Client Stories (From left to right) Dr. Hosseini- Montazeri Mr. Giri Hon. Jason Kenney Mr. Pria Dr. Xie

  31. 31 Contact Information Diana Delgado Figueroa, BBA Interim Program Director S.U.C.C.E.S.S. Employment Services Tel: (604) 231-3344 ext. 111 Email:diana.delgado@success.bc.ca

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