Nothing beats Vermont in the fall; it’s a sentiment especially true this season for the first group of recent Vermont graduates, who will receive thousands toward their student loans for staying put in the state after graduation.

This October, The Green Mountain Job Retention Program began releasing $845,000 in stipend awards to 169 students who graduated from Vermont’s higher-ed institutions in 2023, after they honored a two-year commitment of living and working in the state; nearly half of those recipients graduated from University of Vermont. As this money is released, state organizers are hoping to finish this third year strong and are seeking 300 students to participate in a new cohort of graduates staying in Vermont.

The program – a collaboration between the State of Vermont, UVM, and the Vermont Student Assistance Corporation (VSAC) – offers a $5,000 loan repayment to incentivize new graduates from Vermont colleges and universities to live and work full time in Vermont.

“It’s been great to support Vermont alums’ financial futures in a way that rewards their achievements after graduation,” said Michele Karode, Manager of Outreach Operations with the Office of Engagement and Leahy Institute for Rural Partnerships. “While the program’s future hasn’t been determined, we currently have over 400 students taking part in this program, looking to put roots down in our brave little state.”

Vermont is one of the oldest states in the country per capita: 22% of its population is above 65, while working-age population has dropped by more than a percentage point since 2020, according to the state’s population estimates. These demographic changes have had significant impact on Vermont’s “aging out” workforce, with Chittenden County driving much of the economic growth and sustainability.

“Vermont thrives when people choose to learn here, work here, and live here,” said Vermont Department of Labor Commissioner Kendal Smith. “This program helps make that possible—by connecting graduates with meaningful careers and giving our communities the skilled, passionate professionals they need to grow.”

The program awards bachelor’s and master’s graduates with a $5,000 stipend, provided they meet certain requirements. They must live in the state for two consecutive years, must be employed full-time during that time at a Vermont-based institution—including self-employment or start-up. The stipend can be used to pay off student loans after eligibility requirements are met.

“The $5,000 loan repayment has been incredible,” said Victoria Treto, who earned her master’s degree in Geology at UVM in 2023. “It tackled about 10% of my total student loan debt, which has made a real difference in my financial peace of mind.”

Treto secured a position with the Vermont Department of Health as an environmental health engineer addressing private drinking water programs in the state. “What drew me to stay was this opportunity combined with Vermont's beautiful scenery. I'm originally from upstate New York, so it's similar, but Vermont is a little more quaint; I very much enjoy it here.”

The deadline to apply for the third cohort is December 1, and the program's recipient pool is selected on a first-come, first-served basis while funding is available. Students are strongly encouraged to apply as quickly as possible to secure their opportunity.

“Vermont’s workforce challenge is well-known at this point,” said Karode. “This program is  the result of two large institutions – VSAC and the University of Vermont – working together with the state legislature to support Vermont’s wellbeing. The state has provided the means through academic institutions to build workforce pipelines to solve one of the biggest challenges facing Vermont.”

“I plan to stay here for the rest of my life,” said Treto. “I love Vermont, I love New England, and I absolutely see myself continuing to live and work here. A program like this is so important because it makes people feel more at ease and able to live where they want. Vermont is not an easy place to live; it's a high cost of living area. These programs are really instrumental in keeping high-value workers here after college.”

The application window to participate in the Green Mountain Job Retention Program is open now through December 1. Any student who graduates from a Vermont college or university between July 2024 and June 2025 with a bachelor's or master's degree can apply. For more information, see the website at the Office of Engagement: https://www.uvm.edu/engagement/green-mountain-job-and-retention-program

Green Mountain Job and Retention Program
Treto at Hoover Dam Treto and others in the by the Hoover dam Treto Presents on Drinking Water

Vermonter in the Field

"A program like this is so important because it makes people feel more at ease and able to live where they want," said Treto. "Vermont is not an easy place to live; it's a high cost of living area. These programs are really instrumental in keeping high-value workers here after college.”