Vermont is trying to entice graduating college students to stay in the state by offering $5,000 off their student loans.
That鈥檚 if graduates of any of the state's colleges and universities agree to work for a Vermont-based company for two years in a position that requires a four-year degree.
It鈥檚 the latest effort by the state to bolster its beleaguered workforce. The is funded with $2.5 million through that passed last year. That鈥檚 enough to pay for grants for 400 students who graduate this spring.
鈥淭his is free money on the table,鈥� said Michele Karode who is helping to administer the program through the University of Vermont鈥檚 Office of Engagement.
Currently, Vermont ranks in the percentage of college students who stay in the state once they graduate, according to data compiled by the Washington Post.
That鈥檚 not because there aren鈥檛 enough jobs here. Right now, there are about two openings for every unemployed person in Vermont, according to the latest data from the Vermont Department of Labor, and roughly , according to an estimate by the Vermont Futures Project.
To qualify for the grants, students must graduate from a Vermont-based college or university and have to show proof of employment. Almost 70 students have sent in applications as of this week. They鈥檝e come from all over the state 鈥� at eight of Vermont鈥檚 12 colleges and universities that offer a bachelor鈥檚 degree.
鈥淚t鈥檚 working,鈥� Karode said. 鈥淧eople are wanting the money. And they鈥檙e clearly getting jobs here.鈥�
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