The State of Vermont’s Green Mountain Job & Retention Program offers $5,000 repayment awards to students graduating from eligible schools in spring 2023 with a bachelor’s degree who go on to work for Vermont employers for up to two years. Students graduating from Castleton University, Northern Vermont University, and Vermont Technical College in spring 2023 with a B.A. or B.S. degree are eligible to apply.
Applicants are accepted based on eligibility and on a first-come, first-served basis based on regional, employer, and institutional distribution criteria, as long as funding is available. Applications will not be accepted after December 1, 2023, or once all funds have been committed, whichever occurs first.
Applicants must submit proof of employment when applying. Employment will be verified with the Vermont-based employer at two points: after one year of employment and after the second year of employment.
See the FAQs below for full details.
To Apply
Fill out the application located on the VSAC website.
When you click the link, you will be brought to VSAC’s myVSAC home page. myVSAC is the online account system you will use to apply for and access information about the Green Mountain Job & Retention Program.
- On the myVSAC home page, enter your existing myVSAC username and password and click the ‘Login’ button.
- If you are a first-time user and do not have an existing myVSAC username, click on ‘Register Now’.
- Once you have logged in, or registered for myVSAC, you will automatically be directed to the online Green Mountain Job & Retention Program application.
FAQs
Eligibility
Who is eligible to apply?
Any recent graduate with a bachelor’s degree can apply for the award. Any student can apply that meets the following criteria:
- Spring 2023 graduate from a Vermont institution
- Completed a bachelor’s degree program
- Plans to work in Vermont for at least two years in a position that requires a bachelor’s degree
Can I live outside of Vermont and work remotely for a Vermont company?
You must physically reside in Vermont, and work for a Vermont employer, to receive loan repayment.
Can graduate students apply?
The repayment program is currently offered to all undergraduate students earning a bachelor’s degree.
Application
How do I apply?
Fill out the application located on the VSAC website.
When you click the link, you will be brought to VSAC’s myVSAC home page. myVSAC is the online account system you will use to apply for and access information about the Green Mountain Job & Retention Program.
- On the myVSAC home page, enter your existing myVSAC username and password and click the ‘Login’ button.
- If you are a first-time user and do not have an existing myVSAC username, click on ‘Register Now’.
- Once you have logged in, or registered for myVSAC, you will automatically be directed to the online Green Mountain Job & Retention Program application.
What do I need to apply?
To apply, submit a:
- Completed Green Mountain Job and Retention Program application;
- Letter from the Human Resources department confirming the following: the date you started your full-time employment, the demographic location of the Vermont company you work for, and verification that your position requires a bachelor’s degree; and
- Self-certification that you currently reside in Vermont and will remain in Vermont for at least the two years of your employment.
Are there deadlines for submitting the application?
Awards are allocated on a first-come, first-served basis based on specific sub-criteria that will ensure geographic, workplace and higher education institution diversity. Applications will not be accepted after December 1, 2023, or once all funds have been committed whichever occurs first.
Once I fill out the application for the repayment program, how long does it take to be notified if I am eligible and qualify for the loan repayment?
Applicants will begin to be notified of eligibility after July 1, 2023, on a rolling basis.
Employment
Do I have to work full time to receive loan repayment?
Yes, you have to work full time in Vermont for a Vermont employer in order to receive loan repayment.
How do I verify my employment?
A representative from the repayment team will be in touch with your employer to verify all employment on an annual basis.
How do I know my employer/company will allow me to be eligible for the loan repayment award?
Any Vermont based employer/company is eligible.
What if I change my employers during the two years?
If you change employers your new HR department will need to submit a letter to VSAC confirming the following:
- The date you started your full-time employment;
- The demographic location of the Vermont company you work for; and
- Verification that your position requires a bachelor’s degree.
Loan Repayment
How much loan repayment can I receive?
$2,500 a year for a total of two years, allowing a total repayment amount of $5,000.
What kind of loans can be repaid?
State, federal, and private loans can be repaid.
How is it determined that I would receive the loan repayment?
Each year, the university will verify you worked full-time for the Vermont employer/company you submitted during the application process.
When will loan repayments occur?
Once you have been notified that you are eligible, the first installment of $2,500 will be made after you’ve worked full time in Vermont for one year. The second installment will be made following the end of your second year of employment.
