The Department of Labor has set aside $200 million to expand apprenticeship programs at the federal and state levels. (iStock)
US Department of Labor just announced A $200 million grant will go toward apprenticeship programs.
The funds will be split between two opportunities. The second round is $95 million. Apprentice Development Grant Program $100 million in the second round State Apprenticeship Expansion Grant.
“The second round of the American Apprenticeship Development Fund announced today will provide every American worker with access to training and career preparation that leads to good jobs at family-sustaining wages,” said Acting U.S. Secretary of Labor Julie Su. “This continues the Department of Labor’s efforts to provide Said. “These grants serve as another tool to strengthen the nation’s workforce development infrastructure to connect people from all communities to the quality jobs created by President Biden’s investment policy in America.”
The funds will go to specific industries such as technology, cybersecurity, education, healthcare, clean energy, public sector, and supply chain sectors. All of these industries are growing and in need of qualified employees.
This funding round specifically targets underrepresented and underserved communities that have difficulty accessing education and apprenticeship programs within their communities.
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Some student loan forgiveness programs are set to end this year – here’s what to do if this affects you
Student loan borrowers facing financial hardship may not qualify for forgiveness of
In another effort to help borrowers combat high student loan debt, the Biden administration recently proposed debt forgiveness again. The forgiveness will be given to borrowers facing financial stress and hardship.
The proposal would provide automatic relief to borrowers who are likely to default on their loans over the next two years.
The proposal outlines the factors used to determine this difficulty. These include the borrower’s total loan balance, monthly payments based on household income, and other high-paying costs such as childcare and medical care.
The proposal would authorize the U.S. Secretary of Education to determine whether these factors qualify a borrower for hardship relief.
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New student loan laws could help borrowers do better in 2024
Rural students receive more financial aid
The recent Biden administration Announces $44.5 million in funding 22 educational institutions will help increase enrollment in rural areas.
In the United States, only 29% of rural individuals between the ages of 18 and 24 attend college. The percentage rises to 48% for individuals living in urban areas and 42% for individuals living in suburban areas.
To increase the proportion of rural students attending college, the Rural Secondary Education and Economic Development (RPED) grant program is designed to facilitate career paths into high-demand industries.
Other initiatives to support rural students are also planned. Merchant banker Byron Trott Small Town and Rural Students (STARS) Network. The network was launched with his $20 million gift from Trott Family Philanthropies and will help get students from small towns into elite universities.
“Our small towns and rural communities are home to a tremendous talent pool that has so much to offer our universities, our communities, and our future generations,” Trott said. Said.
With that money, universities can hire full-time staff who can recruit students from rural areas. It also aims to support high school counselors and teachers who can encourage students to attend college.
The funds will also be used to pay for campus visits, expand summer programs, and help families choose financial aid options.
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