Workforce funding program in Virginia sees 9% growth
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The program rewards community colleges, higher education centers, and Richard Bland College through a pay-for-performance model each time a student completes training and earns a credential in a high-demand field. Students are required to pay one-third of the cost of tuition if they successfully complete the program and financial aid also is available.
During the 2023 fiscal year, 13,428 people enrolled in the New Economy Workforce Credential Grant program, 95% completed their training and 71% of them graduated with a credential. The most popular programs in 2023 included commercial driver's license, medical assistant, highway construction, and phlebotomy technician.
The median annual wage of students before enrolling in the program was $24,876, and 12 months after leaving the program, they earned a median wage of $34,22 – a 38% increase. SCHEV is responsible for administering and evaluating the New Economy Workforce Credential Grant program, which was created by the Virginia General Assembly in 2016.
