The New Economy Workforce Credential Grant program, a unique, performance-based means of funding noncredit workforce training in the Commonwealth, saw a 9% increase in student enrollments in fiscal year 2023, an all-time high, according to a report by the State Council of Higher Education for Virginia (SCHEV). In addition, those who completed the program saw their median annual wage increase by 38%.

The grant program uses a pay-for-performance model that provides payments for costs to community colleges, higher education centers and Richard Bland College, but only when a student completes training and when they complete a credential in a high-demand field. Students pay one-third of the cost if they successfully complete the program. Financial aid is available.

Of the 13,428 enrollments in the past fiscal year, 12,749 (95%) completed training. Of those enrolled, 9,539 went on to earn a credential (71%). The most popular programs in 2023 were commercial driver’s license, medical assistant, highway construction and phlebotomy technician.

Before enrolling, students earned a median annual wage of $24,876. Twelve months after leaving the program, students earned a median wage of $34,226. This $9,350 change represents a 38% increase compared to the median pre-wage.

The New Economy Workforce Credential Grant Program was created by the General Assembly in 2016. SCHEV is responsible for administering and assessing the program.

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The State Council of Higher Education for Virginia is the state’s coordinating agency for higher education. With Pathways to Opportunity: The Virginia Plan for Higher Education, SCHEV is dedicated to making Virginia the best state for education by 2030. For more on this statewide strategic plan, visit schev.edu/TheVirginiaPlan.