"Job Scholarships" coming to Colorado

Sen. Carroll introduces Senate Bill 39

Thursday, February 25 2010
http://coloradosenate.org/home/features/-job-scholarships-coming-to-colorado

"Due to my husband losing his job four years ago, we were forced to do a debt consolidation. We have five kids and one income… I work two jobs to make ends meet and my husband works as a waiter because he can't find a job...if the (debt consolidation) company doesn't work with me they can take money out of my account, which means I can't make my house payment, and that in turn means I lose my house." - Kristina from Parker, Colorado   From WSBTV.com  

DENVER - These stories are all too common in the current economy.  With nearly 86,600 people losing their jobs from December 2008 to December 2009, Senator Morgan Carroll (D-Aurora) has introduced a bill to help get these people back to work.  Senate Bill 39, The Job Training Scholarships bill, will help put people back to work or even start a new business by getting unemployed Coloradans job training thanks to scholarships. Today, the Senate Education Committee unanimously passed SB 39.

"We can't allow good, hard-working people to be out of work," said Sen. Carroll.  "If we can help them update their training and gain more knowledge which will help them get rehired or even start their own business, we have won. As Colorado starts its economic recovery, and Colorado businesses are starting to put people back to work, we need to make sure Colorado workers are ready for these jobs."

The bill:

• Provides scholarships (totally up to $1 million allocated statewide per year) to any Coloradan who lost their job on or after 2008 for classes, certificates or degrees
• The scholarship must be used at vo-tech, junior colleges, community colleges, apprenticeships or four-year institutions.
• The scholarship will be administered by the College Invest Board.
• Any unawarded scholarships pour-over into the existing teacher training scholarship.
• It expires after 3 years.

The Job Training Scholarship will award $1 million a year (for three years) and the funding for these scholarships will come from CollegeInvest, which is the student loan division from the Department of Higher Ed.  According to the bill's fiscal note, "CollegeInvest does not receive appropriations from the General Assembly; it pays for its operations through profits earned on its student loans, administrative fees for managing 529 plans, and investment income."  In 2009, "there were approximately 238,000 people receiving unemployment insurance payments" and "of this population, there were approximately 700 instances of some type of training coded in the Department of Labor and Employment's records," according to the bill's fiscal note.

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