CONCORD – Today, Senator Jay Kahn (D-Keene) introduced SB 228, legislation to establish the New Hampshire College Graduate Retention Incentive Partnership (NH GRIP), a unique effort to recruit and retain graduates from New Hampshire’s colleges and universities and provide incentives to those graduates to live and work in New Hampshire. Senator Kahn offered the following comments after introduction of the bill:
“Our colleges and universities are among our state’s finest resources. But our graduates are leaving these institutions with some of the highest levels of in-state debt in the country. And while there are more out-of-state high school graduates attending NH colleges than in-state, currently only 10% to 15% remain in New Hampshire to build their careers after graduation,”said Senator Kahn, prime sponsor of SB 228. “It is vital to our state’s economy that we make New Hampshire an attractive destination for young people to invest in their futures as students and as they enter the workforce.”
The N.H. College Graduate Retention Incentive Partnership (NH GRIP) enlists New Hampshire employers who pay a graduate a $1,000 bonus for each year of work completed for the first four years of employment. The employee can receive this incentive as a bonus or as a direct payment to their student loan servicer. The only cost to the state is funding to enable the N.H. Department of Economic Development to market the program to participating New Hampshire employers and to NH high school and college students.
“GRIP creates a unique, New Hampshire advantage to enable our state to compete with the 41 other states that currently offer incentives for college graduates to remain in-state. The program will help make it more viable for New Hampshire’s high school graduates to envision and plan long-term futures in the state and make New Hampshire an appealing destination for out-of-state students put down roots. I urge my colleagues to seriously consider this proposal.”
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