Hit the books to earn extra cash. 💰
College enrollment is down historically low all across the United States. Plus, low unemployment numbers means more students are asking an important question. Is shelling out thousands of dollars for college is actually worth it in the long run?
According to Brandon Busteed, chief partnership officer at Kaplan University, “Colleges are desperate. Our population in the U.S. is not growing and we just don’t have enough young people in the pipeline to backfill that.”
So what exactly does that mean for you? Turns out, you could earn some serious cash to help incentivize you to go to college.
Fast Tracking Employment
The problem that many professionals are citing is the widening gap between Baby Boomers and Gen Z. Between now and 2030, 75 million Baby Boomers will retire from the workforce altogether. In that same time period, college enrollment will drop by 15%. This creates an opening of jobs that companies will be unable to fill.
Hoping to fix this problem, The Community College of Vermont will pay students $3,500 per semester to enroll in their college. They’re hoping the cash incentive will encourage their students to finish their degrees more quickly, allowing them to enter the workforce.
The criteria to receive the $3,500 are:
- You must live in Vermont
- You must have worked in your chosen field
- You must have maxed out your financial aid
Other Colleges & Companies Offering Cash Incentives For College Students
If you’re not a resident of Vermont, plenty of other places are willing to pay you to incentivize graduation. Here’s a quick rundown of some of the best programs currently available:
- Community colleges in Massachusetts are partnering with Bank of America, Wayfair, Boston Scientific and more to to pay students $15 an hour for customer service and administrative assistant training.
- In Maine, all community colleges offer $500 a week stipends and housing to students who are enrolled in welding and automotive repair training.
- Disney is helping out Florida employees by paying them to take community college courses, earn a degree or high school diploma, or learn a vocational skill. All of these options are based out of Valencia College.
- Arizona residents can receive a reimbursement from Boeing after they complete their $250 manufacturer training.
While this is no doubt the beginning of programs like this, there’s still a huge gap in the workforce. Hopefully more colleges will lower their tuition and continue to offer incentives for students to enroll.
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