COLUMBUS - 

Ohio has invested more than $670,000 in job training through local training programs since the inception of the state's Workforce Revolving Loan Fund. State Senators Bill Beagle (R-Tipp City) and Troy Balderson (R-Zanesville) jointly sponsored Senate Bill 1, which established the Workforce Development Revolving Loan program in 2013.  

Senate Bill 1 created the Revolving Loan Fund with $25 million from casino license fees to support regional workforce needs and prepare Ohio workers for skilled jobs.

Public and private colleges and universities, career colleges and career technical centers can apply for up to $100,000 per job training program to provide low interest loans of up to $10,000 for individuals to pay for training. 

“The Workforce Development Revolving Loan Fund is a phenomenal program that encourages fast job placement, fair student loans and more opportunities for Ohioans to gain needed job skills to contribute to the changing workforce needs of our state,” said Beagle. 

The Ohio Board of Regents gives preference to proposals that emphasize direct job placement upon program completion and support in-demand careers. 

“Education is a key component to the future of Ohio’s skill-trained workforce,” Balderson said. “It is great to see schools all across the state utilizing the revolving loan fund established by Senate Bill 1. This fund will surely go a long way in helping make education for technical jobs more accessible to Ohioans.”

Loans paid off within six months are interest-free. Students that need more time to pay off their loans are given low interest rates, and any interest paid goes back into the revolving loan fund for future applicants. 

The following programs have received support from the Workforce Revolving Loan Fund: 

  •     Apollo Career Center, Truck Driving Academy; $99,000
  •     Clark State Community College, CDL Training Program; $99,000
  •     Cuyahoga Community College, Fast Track Welding Boot Camp; $26,970
  •     Cuyahoga Community College, Truck Driving Academy; $94,905
  •     Cuyahoga Community College, Right Skills Now; $87,285
  •     Cuyahoga Community College, Network Support Specialists; $90,000
  •     Groove U, Music Industry Career Program; $100,000
  •     Lorain County Community College, Ready Mix Truck Driving Program; $76,350

The Board of Regents is reviewing applications for another round of program requests and plans to announce more recipients in the coming weeks. 

 
 
 
  
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