Are you a new hire in a Science, Technology, Engineering or Math position? Vermont's STEM incentive may pay you up to $7,500!
What is the STEM incentive?
The Science, Technology, Engineering and Math award will pay new hires at Vermont companies $1,500 cash annually for each year they are employed, up to five years. The incentive goes directly to the individual.
Who may apply?
Any individual recently hired by a Vermont company in good standing with the State of Vermont in an eligible occupation may apply.
What are the eligibility requirements?
- Have graduated from an accredited educational institution with an Associate's Degree or higher;
- Been conferred the degree not more than 18 months before the date of hire by a qualified employer; New hires must apply within 30 days of their start date.
- Be employed by a qualified employer for a position in Vermont that meets the STEM definition and for which the total annual compensation (including the value of benefits including health and dental insurance, FICA payments, company pension and 401(k) contributions and other direct compensation paid to the employee) is $50,000 or greater
- Have outstanding student loans with a lending institution.
- The incentive is taxable income.
What occupations are eligible?
The list of eligible positions (pdf) include occupations like engineers, technicians, and more. If you feel your position qualifies but is not on the list you may request a review for eligibility. Only positions that pay $50,000annually in salary and benefits qualify. Benefits include health and dental insurance, FICA payments, Social Security payments, company pension and 401(k) contributions and other direct compensation paid to the employee.
What if I change employers?
As long as you remain in an eligible occupation with a Vermont company in good standing with the state, and meet compensation requirements the STEM award is transferable.
How can I apply?