Fast Track Workforce Incentive Grant
The Fast Track Workforce Incentive Grant is a new financial aid program that addresses workforce needs by encouraging adults to pursue a certificate, degree, or industry-recognized credential in an area designated as high need.
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About the program:
- Fast Track will put Missouri among the leading states that are serious about serving adults. It opens doors for an entire segment of the population to get training and participate meaningfully in the workforce.
- Fast Track will help meet Missouri’s Big Goal of 60 percent of working-age adults having a high quality certificate or degree by 2025.
- Find an approved program at an eligible institution.
How the list was developed:
High-demand occupations were identified using long-term occupational projections developed by the Missouri Economic Research and Information Center (MERIC). MERIC’s projections assign career grades based on projected openings, growth, and wages. Occupations were included if they had a grade of A or B at the state level or in any region. Occupations were then excluded if they typically required no formal education or education above a bachelor’s degree, or had below average projected total job openings. See all of MERIC’s long-term occupational projections here.
High-demand occupations were then linked to academic programs (identified by a four-digit Classification of Instruction Programs code) using a nationally standardized crosswalk of Standard Occupational Code (SOC) to CIP codes. A program that linked to a high-demand SOC was included. The CIP codes identify programs eligible for Fast Track.
- Public comments collected on proposed program list, April 1 - May 15
- General Assembly passed Senate Bill 68 (Hough), May 15
- Coordinating Board for Higher Education approved program list, June 5
- Governor Parson signed Senate Bill 68 into law, July 10
- Implementation begins with application available, August 2019
- Coordinating Board for Higher Education approves additional program areas, March 4, 2020
- General Assembly approves HB 2003, making non-profit private institutions eligible, May 2020
- Application for 2020-21 opens, August 2020