Vermont Graduates Can Get $5,000 to Repay Loans – If They Stay andโ Work in โtheโ State
BURLINGTON, VT – A โUniversity of Vermont (UVM) program is offering a meaningful financial boost โคto recent graduates, providing a $5,000 stipend โto thoseโ who commit to โคliving and โworking โขin Vermont for two years. Theโฃ program,designedโ to encourage โtalented individuals to remain in the state after graduation,is currently โขaccepting applications for its third cohort.
The stipend is availableโข to bothโ 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 โtwo-year period.โ Once eligibility requirements are met, theโค funds can be directly applied to student loan debt.
With fundingโค available on a first-come, first-served basis, UVM isโ urgingโ interestedโ graduates to apply quickly. The application deadlineโ is December 1st.
“It’s been great to support Vermont alums’ โfinancial futures in a way that rewards โคtheir achievements after โgraduation,” โขsaid Michele Karode,manager of outreach operations with the Office of Engagementโ and Leahyโ Institute for Rural Partnerships โขat UVM. “While โthe program’s future โฃhasn’t beenโข determined, we currently have overโค 400 students taking part in this program, looking to put โฃroots โคdown in โour brave little state.”
UVM data indicates a strong โripple effect: for everyโ Vermont resident who graduates from UVM โand stays in โthe state, two out-of-state graduates also chooseโฃ to live and work in Vermont. Over the โคpast five โyears,โข more than 5,500 UVM graduates have opted to remainโฃ in Vermont and contribute to the state’s โworkforce.
Victoria Treto,a 2023 UVM graduate withโค a master’s degree in geology,is one beneficiary of โthe program. She is now anโค environmental โขhealth engineer with the Vermont Department of Health.
“The $5,000 loan repayment has โขbeen amazing,” Treto โคsaid. “It tackled โฃabout 10% of โmy total student loanโ debt,which has made a real difference โin myโ financial peaceโ of mind.”
Treto โขemphasized the importance of such programs in attracting and retaining skilled workers in Vermont. “I plan to stay here for theโ rest of my life,” she said.”I loveโค Vermontโฆ โA program like this is so crucial because โขit makes people โฃfeel more โat ease and able to live where they want. Vermont โis not an easy place to live; โขit’s a high โฃcostโค of living โarea. These programs are really instrumental in keeping high-value โขworkers here โafterโข college.”
This story was created by reporter Beth McDermott, bmcdermott1@gannett.com, with the assistance of Artificialโ Intelligence (AI). Journalists were โinvolved in every step of the information gathering, review, editingโ and publishing process. Learn more โขatโ cm.usatoday.com/ethical-conduct.
