Vermont Graduates Can Get $5,000 to Repay Loans – If They Stay and Work in the State
BURLINGTON, VT – A University of Vermont (UVM) program is offering a meaningful financial boost to recent graduates, providing a $5,000 stipend to those who commit to living and working in Vermont for two years. The program,designed to encourage talented individuals to remain in the state after graduation,is currently accepting applications for its third cohort.
The stipend is available to both bachelor’s and master’s degree recipients who secure full-time employment at a Vermont-based institution – including self-employment and work with startups – and reside in the state for a consecutive two-year period. Once eligibility requirements are met, the funds can be directly applied to student loan debt.
With funding available on a first-come, first-served basis, UVM is urging interested graduates to apply quickly. The application deadline is December 1st.
“It’s been great to support Vermont alums’ financial futures in a way that rewards their achievements after graduation,” said Michele Karode,manager of outreach operations with the Office of Engagement and Leahy Institute for Rural Partnerships at UVM. “While the program’s future hasn’t been determined, we currently have over 400 students taking part in this program, looking to put roots down in our brave little state.”
UVM data indicates a strong ripple effect: for every Vermont resident who graduates from UVM and stays in the state, two out-of-state graduates also choose to live and work in Vermont. Over the past five years, more than 5,500 UVM graduates have opted to remain in Vermont and contribute to the state’s workforce.
Victoria Treto,a 2023 UVM graduate with a master’s degree in geology,is one beneficiary of the program. She is now an environmental health engineer with the Vermont Department of Health.
“The $5,000 loan repayment has been amazing,” Treto said. “It tackled about 10% of my total student loan debt,which has made a real difference in my financial peace of mind.”
Treto emphasized the importance of such programs in attracting and retaining skilled workers in Vermont. “I plan to stay here for the rest of my life,” she said.”I love Vermont… A program like this is so crucial because it makes people feel more at ease and able to live where they want. Vermont is not an easy place to live; it’s a high cost of living area. These programs are really instrumental in keeping high-value workers here after college.”
This story was created by reporter Beth McDermott, bmcdermott1@gannett.com, with the assistance of Artificial Intelligence (AI). Journalists were involved in every step of the information gathering, review, editing and publishing process. Learn more at cm.usatoday.com/ethical-conduct.
