New Economy Workforce Credential Grant. Annual Report 2024
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| Title: | New Economy Workforce Credential Grant. Annual Report 2024 |
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| Language: | English |
| Authors: | State Council of Higher Education for Virginia (SCHEV) |
| Source: | State Council of Higher Education for Virginia. 2025. |
| Availability: | State Council of Higher Education for Virginia. 101 North 14th Street, James Monroe Building, Richmond, VA 23219. Tel: 804-225-2600; Fax: 804-225-2604; Web site: http://www.schev.edu |
| Peer Reviewed: | N |
| Page Count: | 22 |
| Publication Date: | 2025 |
| Document Type: | Reports - Research |
| Education Level: | Postsecondary Education Adult Education |
| Descriptors: | State Programs, Grants, Labor Force Development, Training Allowances, State Aid, Postsecondary Education, Demand Occupations, Labor Needs, Alignment (Education), Credentials, Graduation Requirements, Noncredit Courses, Continuing Education, Student Costs, Job Training, Program Costs, Program Implementation, Program Effectiveness, Enrollment Rate, Enrollment Trends, Student Characteristics, Wages, Outcomes of Education, Graduation Rate |
| Geographic Terms: | Virginia |
| Abstract: | A product of the 2016 Session of the General Assembly, the New Economy Workforce Credential Grant (WCG) Program represents the nation's first pay-for-performance model for funding noncredit workforce training that leads to a credential in a high-demand field. Using a two-pronged approach, the WCG works to increase program completion and credential attainment by incentivizing both the provision of noncredit programs in certain institutions of higher education (IHEs) and enrollment by Virginia residents. The enabling legislation tasks the State Council of Higher Education for Virginia (SCHEV) with administering and monitoring the WCG, as well as reporting on annual progress to the General Assembly and the Virginia Workforce Development Board (VWDB, or the Board). The following report provides a review of enrollments, completions, costs, and outcomes across the Commonwealth over the past fiscal year, from July 1, 2023, through June 30, 2024. |
| Abstractor: | ERIC |
| Entry Date: | 2025 |
| Accession Number: | ED677457 |
| Database: | ERIC |
| Abstract: | A product of the 2016 Session of the General Assembly, the New Economy Workforce Credential Grant (WCG) Program represents the nation's first pay-for-performance model for funding noncredit workforce training that leads to a credential in a high-demand field. Using a two-pronged approach, the WCG works to increase program completion and credential attainment by incentivizing both the provision of noncredit programs in certain institutions of higher education (IHEs) and enrollment by Virginia residents. The enabling legislation tasks the State Council of Higher Education for Virginia (SCHEV) with administering and monitoring the WCG, as well as reporting on annual progress to the General Assembly and the Virginia Workforce Development Board (VWDB, or the Board). The following report provides a review of enrollments, completions, costs, and outcomes across the Commonwealth over the past fiscal year, from July 1, 2023, through June 30, 2024. |
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