The Missouri Department of Higher Education & Workforce Development has announced its Fast Track Workforce Incentive Grant, new financial aid program for adults.
Donor Name: Missouri Department of Higher Education & Workforce Development
State: Missouri
County: All Counties
Type of the Grant: Grant
Deadline: 05/15/2022
Details:
The grant addresses workforce needs by helping adults pursue a certificate, degree, or industry-recognized credential in an area designated as high need. Grant recipients must maintain Missouri residency and work in Missouri for three years after graduation to prevent the grant from becoming a loan that must be repaid with interest.
Eligibility Criteria
Student Eligibility – To be eligible to receive an award, an initial applicant must:
- Submit a complete Fast Track application with the Department of Higher Education & Workforce Development.
- Be at least 25 years old or not have been enrolled in an education program at any level within the past two years.
- Enroll at least half-time at a participating institution in a program designated as eligible by the Coordinating Board.
- Short-term (less than 300 clock hours) and noncredit programs meet this by definition.
- Complete the FAFSA.
- Apply for and accept all governmental financial aid, which excludes work-study and any loans, for which he or she is eligible.
- Have an Adjusted Gross Income, as reported on the FAFSA, of no more than $80,000 for married individuals filing federal income taxes jointly or $40,000 if filing in any other status.
- Be a Missouri resident and a U.S. citizen or permanent resident.
- Not have circumstances preventing receipt of federal Title IV student financial aid, such as being in default on a federal loan or having a criminal record preventing receipt of federal Title IV student financial aid.
Grant Requirements
- This grant may be renewed by meeting all of the initial requirements and by making satisfactory progress, which includes maintaining at least a 2.5 cumulative grade point average.
- The grant requires that students graduate from an approved institution, maintain Missouri residency, achieve qualifying employment in Missouri within 12 months of graduation, and maintain qualifying employment in Missouri for at least three years.
- One-third of the aggregate amount received through the Fast Track grant will remain a grant for each year of residency and employment. If the recipient meets the residency and employment requirements for less than the full three years, any remaining balance will be converted to a loan and will be repayable with interest.
For more information, visit Fast Track Workforce Incentive Grant Program.
