Workforce Development Loan Program
INSTITUTIONS APPLY HERE
(Ohio Department of Higher Education RFP document)
STUDENTS APPLY HERE
(Portal for students enrolled in approved program to apply for loans)
PROMISSORY NOTE HERE
What is the Workforce Development Loan Program?
Ohio’s Workforce Development Loan Program (“WDLP”) makes loans to students enrolled in programs at institutions of higher learning and career/vocational schools. WDLP promotes and encourages growth through educational training and retraining in programs related to employment opportunities in growing fields.
What institutions are eligible?
Most Ohio institutions of higher learning are eligible to apply for the loan program.
- Community Colleges
- Career Technical Centers
- Joint Vocational School Districts
- Private Career Schools
- Non-profit Academic Institutions
How much money can my institution receive in loans?
Each program, at each school, can receive up to $250,000 in loans for up to 3 programs.
Are there any restrictions on the amount that a student can receive?
Students can receive loans ranging from $1,000 to $10,000.
How do I get started?
An institution can easily apply to qualify for WDLP funds:
Where can I find the RFP?
- Download the Request for Proposal (“RFP”)
- Submit a response to the RFP
- Once approved, the Treasurer of State will work with you to allow students to apply for loans
The RFP is located on the Ohio Department of Higher Education website at: www.ohiohighered.org/wfif
Is there a deadline to submit a response to the RFP?
No, the RFP is rolling. Any institution can apply at any time.
Which students are eligible for loans?
Any student who meets the following criteria is eligible:
- Ohio resident
- Enrolled in qualified program
- Not currently in default of any student loans
For the School:
For the Student:
- Funds can allow for significant program expansion
- Creates an opportunity for specialized programs not eligible for Title IV funding.
- Provides an opportunity beyond out of pocket coverage or high credit card interest rates.
- Provides marketability towards student enrollment
Interest-free while enrolled and for first six-months after program completion
- Interest free 6 month grace period upon program completion
- Low interest rate of 4% annually
- Flexible funding for career advancement
- Low interest loans available for training in high-demand fields for Ohioans ready to start or change careers
- No credit check, income threshold, or GPA required
We’re happy to answer any questions you may have, please contact:
Contact the Ohio Department of Higher Education
Contact the Ohio Treasurer's office