The University of California, San Diego, Extension and the San Diego Workforce Partnership today announced the creation of an income-share agreement fund aimed at helping unemployed and underemployed people in San Diego County finance postsecondary training in high-demand fields, including business intelligence and digital marketing.
Through the new Workforce Income Share Agreement Fund, an initial group of 100 students will be able to take courses in certificate programs at UCSDx without paying up-front tuition fees. Students who complete their certificate program and land a job with an annual salary of at least $40,000 will pay a set percentage of their income over a set period of time under the pilot program, which received funding from Google.org, Strada Education Network and the James Irvine Foundation. The program plans to grow to 200 students per year beginning in 2020.
The fund will provide a "wraparound support system" to students, including career coaches and mentors, networking events, and internship and job-placement services.
“This initiative should serve as a model for innovation in work-force development across the country,” Andrew Dunckelman, who heads education and economic opportunity for Google.org, said in a written statement. “The Workforce ISA Fund is an important step towards a nationwide shift in the way we think about education and training to prepare for the jobs of the future.”