OhioMeansJobs Workforce Development Revolving Loan Program | Ohio Higher Ed - 0 views
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MiamiOH OARS on 05 Mar 18To promote and encourage Ohio's workforce development and job growth through educational training and the retraining of individuals in programs related to employment opportunities. Institutions must qualify as eligible institutions, and their respective workforce training and education programs must be approved by the Chancellor in order for students enrolled in these programs to be eligible for loans under the Loan Program. The funds awarded to institutions will be disbursed in the form of loans to borrowers (students enrolled in approved workforce training programs at participating institutions). Applications must demonstrate that completion of the workforce training program will directly impact the ability of borrowers to advance their career and education. All eligible institutions (as described below) which offer workforce training program(s) (as described below) may be eligible to submit an application to the Ohio Department of Higher Education in compliance with the criteria set forth below. If the respondent's application is acceptable to the Ohio Department of Higher Education, then an approved eligible institution will be approved to solicit students enrolled in approved OhioMeansJobs Workforce training program. Each enrolled student may apply for a loan from the OhioMeansJobs Workforce Revolving Loan Program ("Loan Program"). The participating institution in cooperation with the Treasurer of State will receive the loan proceeds for enrolled students who applied for and are accepted into the Loan Program. The participating institution will not be liable for the repayment of the loan made to the enrolled student. The Treasurer of State, as loan servicer, will determine the rate and terms of each loan.