Any recent graduate with a Bachelor's or Master's degree could apply for the award. Any student could apply that meets the following criteria

• People who graduated from a Vermont institution from December 2023 to June 2024
• Completed a Bachelor's degree program or a Master's degree program
• Plans to live and work full time in Vermont for at least 2 years

You must physically reside in Vermont, and work for a Vermont employer, to receive loan repayment.

Yes, they were also eligible. The repayment program was offered to all students who earned a Bachelor’s or Master's degree.

Learn more about the Green Mountain Job and Retention Program.

No. The repayment program was created as a pilot by the Vermont Legislature to incentivize recent college graduates to stay and work in Vermont and is only available to December 2023-June 2024 graduates.

No, if you graduated from a college or university in Vermont with a bachelor’s or master’s degree and are living and working in Vermont, working for a Vermont employer, you can 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.

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 and the demographic location of the Vermont company you work for.
• Self-certification that you currently reside in Vermont and will remain in Vermont for at least the two years of your employment.

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, 2024, or once all funds have been committed whichever occurs first.

Applicants will begin to be notified during the summer of 2024 on a rolling basis.

Yes, you have to work full time in Vermont for a Vermont employer in order to receive loan repayment.

A representative from the repayment team will be in touch with your employer to verify your employment on an annual basis.

Any Vermont based employer/company is eligible.

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

Yes. 

To receive the second $2,500 installment of your $5,000 loan payment award, you will need to complete your second year of employment with a Vermont company/organization by December 2026.

If you complete at least one full year, you would be eligible for up to $2,500. You would not be eligible for the second installment of $2,500 if you leave before completing 2 years of full-time employment.

Up to $2,500 a year for a total of 2 years allowing a total repayment amount of $5,000.

State, Federal, and Private loans can be repaid.

Each year, UVM will verify you worked full-time for the Vermont employer/company you submitted during the application process.

Employment verification will begin one year after all criteria are met, you graduated and are working full time for one year.  Once employment is verified you will receive a letter and be asked to provide a bill statement from your loan servicer.  The first installment of up to $2500 will be made after your bill statement is submitted.  The second installment will be made following the end of your second year of employment.

No, each year’s payment of up to $2500 will be sent to one servicer.  You can choose one servicer for the first year’s payment and a different servicer for the second year’s payment.

No, the award is to repay student loans up to $5000.  If you owe student loans totaling less than $5000, you will be eligible to have half of your balance repaid after one year, up to $2500 and the remaining balance, up to $2500 paid to your servicer the following year.