R765-615-6. Qualifying Criteria

  6.1. Applicants must meet the following criteria to qualify for an incentive loan:

  6.1.1. The applicant must have completed at least two semesters of full-time equivalent course work if he or she is pursuing a bachelor's degree, or at least one semester of full-time equivalent course work if he or she is pursuing an associate degree.

  6.1.2. The applicant is enrolled full-time.

  6.1.3. The applicant signs a declaration stating he or she is pursuing or will pursue a qualifying degree.

  6.1.4. The applicant signs a declaration stating his or her intent to work in a qualifying job in Utah following graduation.

  6.1.5. The applicant must provide the institution verification of registration for classes within the qualifying degree program before the institution may release the funds.

  6.2. Every other academic year, the Governor's Office of Economic Development (GOED) shall select five jobs that have the highest demand for new employees and offer high wages. Beginning the August of that year, those five positions are designated as qualifying jobs for the purposes of this incentive loan program. When selecting the qualifying jobs, GOED shall ensure the jobs meet the following criteria:

  6.2.1. Rank in the top 40 percent of jobs based on an employment index that considers job growth rates and total openings.

  6.2.2. Rank in the top 40 percent for wages.

  6.2.3. Requires an associate degree or a bachelor's degree.

  6.3. In conjunction with selecting the qualifying jobs, GOED will identify and designate the bachelor's or associate degrees required to qualify for the five qualifying jobs.