AP

Utah starting $2.5M debt forgiveness program for tech grads

Jan 20, 2019, 10:53 AM
tech...

SALT LAKE CITY — Utah is rolling out a program to forgive college debt for tech workers who stay and work in the state.

Lawmakers created the Talent Development Incentive Loan Program $2.5 million program last year to retain graduates and keep Utah’s tech sector growing, the Deseret News reported.

It requires students to have completed one year on approved academic track for a bachelor’s degree in order to apply, but after that accepted students could have their last three years paid for if they agree to work in state for three years after graduation. Associate’s degree students have to be enrolled for a semester before applying.

For a University of Utah student, that could mean up to $30,000 in debt relief. School officials there are expecting to be ready for applications in the coming weeks.

Qualifying jobs include applications software developers, management analysts, computer systems analysts, computer and information system managers and network and computer systems administrators.

Those interested should contact their college’s financial aid office.

Abby Osborne, vice president for government relations for the Salt Lake Chamber, told lawmakers last year that the state exports far more jobs that it imports. Students who attend publicly funded universities are often lured out of the state for jobs elsewhere, she said.

“Workforce is really the key issue in Utah in these targeted tech areas,” said Senate Assistant Majority Whip Ann Millner, a Republican who proposed creating the program. “It’s really important for us to find ways to keep our grads in the state as they begin their careers.”

Utah now has nearly 1,500 unfilled positions for software application developers and over 750 open jobs for network and computer systems administrators.

The total number of tech jobs sitting empty numbers about 5,800, a nearly 20 percent increase over a year ago.

The money is doled out to Utah post-secondary schools based on a formula assessing the average number of graduates in qualifying degree programs, said Spencer Jenkins, the Utah System of Higher Education’s associate commissioner for public affairs.

The University of Utah, for example, will get just over $770,000 for the upcoming school year. Brenda Burke, the school’s executive director for Scholarship and Financial Aid, said her office has identified about 1,000 students who would qualify, though their allotment would fund about 90 students this year.

Accepted students will have to sign a promissory note that puts them on the hook for loan repayment if they move early.

“Our tech industry is growing faster than any other state in the nation,” Salt Lake Chamber and Downtown Alliance CEO Derek Miller said. “That’s the good news. But if we want to continue to have a sustainable knowledge-based, innovation economy we’re going to need to continue to focus on workforce development.”

We want to hear from you.

Have a story idea or tip? Send it to the KSL NewsRadio team here.

Today’s Top Stories

AP

george santos is pictured amongst other lawmakers, he and romney have been exchanging harsh words...
Samantha Herrera

GOP on GOP: Romney scolds Santos, ‘You don’t belong here’

Santos' presence at the center aisle to see and be seen with the arrivals was met with a stern rebuke from a fellow Republican, Sen. Mitt Romney.
1 day ago
A woman sits on the rubble as emergency rescue teams search for people under the remains of destroy...
MEHMET GUZEL, GHAITH ALSAYED and SUZAN FRASER

Race to find survivors as earthquake aid pours into Turkey, Syria

The death toll has risen to above 5,300. Monday's quake and strong aftershocks hit hundreds of kilometers across southeastern Turkey and neighboring Syria.
2 days ago
quit their jobs...
PAUL WISEMAN AP Economics Writer

US added a strong 517,000 jobs in January despite Fed hikes

The Fed is aiming to achieve a "soft landing" — a pullback in the economy that is enough to tame high inflation without triggering recession.
6 days ago
Thousands of fraudulent nursing diplomas  were dispersed in Florida. (Canva)...
Associated Press via Miami Herald

Fake nursing diploma scheme in Florida; 25 arrested

The defendants each face up to 20 years in prison.
7 days ago
Microsoft is cutting 10,000 workers, almost 5% of its workforce, in response to "macroeconomic cond...
MATT O'BRIEN, Associated Press

Job cuts in tech sector spread, Microsoft lays off 10,000

Microsoft said in a regulatory filing Wednesday that had just notified employees of the layoffs, some of which begin immediately.
22 days ago
exxon mobil sign pictured...
SETH BORENSTEIN and CATHY BUSSEWITZ Associated Press

Study: Exxon Mobil accurately predicted warming since 1970s

Exxon said its understanding of climate change evolved over the years and that critics are misunderstanding its earlier research.
28 days ago

Sponsored Articles

Skier being towed by a rider on a horse. Skijoring....
Bear Lake Convention and Visitors Bureau

Looking for a New Winter Activity? Try Skijoring in Bear Lake

This article about skijoring is sponsored by the Bear Lake Convention & Visitors Bureau. Participate in Skijoring the Bear on February 20th, 2023.  What is skijoring? Skijoring is when someone on skis is pulled by a horse, dog, animal, or motor vehicle. The driver leads the skiers through an obstacle course over jumps, hoops, and […]
Banner with Cervical Cancer Awareness Realistic Ribbon...
Intermountain Health

Five Common Causes of Cervical Cancer – and What You Can Do to Lower Your Risk

January is National Cervical Cancer Awareness month and cancer experts at Intermountain Health are working to educate women about cervical cancer, the tests that can warn women about potential cancer, and the importance of vaccination.
Kid holding a cisco fish at winterfest...
Bear Lake Convention and Visitors Bureau

Get Ready for Fun at the 2023 Bear Lake Monster Winterfest

The Bear Lake Monster Winterfest is an annual weekend event jam-packed full of fun activities the whole family can enjoy. This year the event will be held from January 27-29 at the Utah Bear Lake State Park Marina and Sunrise Resort and Event Center in Garden City, Utah. 
happy friends with sparklers at christmas dinner...
Macey's

15 Easy Christmas Dinner Ideas

We’ve scoured the web for you and narrowed down a few of our favorite Christmas dinner ideas to make your planning easy. Choose from the dishes we’ve highlighted to plan your meal or start brainstorming your own meal plan a couple of weeks before to make sure you have time to shop and prepare.
Spicy Homemade Loaded Taters Tots...
Macey's

5 Game Day Snacks for the Whole Family (with recipes!)

Try these game day snacks to make watching football at home with your family feel like a special occasion. 
Happy joyful smiling casual satisfied woman learning and communicates in sign language online using...
Sorenson

The Best Tools for Deaf and Hard-of-Hearing Workplace Success

Here are some of the best resources to make your workplace work better for Deaf and hard-of-hearing employees.
Utah starting $2.5M debt forgiveness program for tech grads