Digital Academy’s graduates are among those to receive loans
More than 300 graduates of the Digital Academy of Arts and Sciences in New York City are set to receive the first installment of federal government loan forgiveness.
The graduates of a digital academy in California will receive the loan from the U.S. Department of Education, the department said Tuesday.
The Digital Academy is located in the heart of Silicon Valley, about 30 kilometres north of Los Angeles.
Its graduates are some of the first graduates of their kind in the U, a technology and innovation hub.
The program began this summer and was designed to help young people in Silicon Valley develop their skills and skillsets in an increasingly competitive market.
“It’s a wonderful program,” said Digital Academy president and CEO Jennifer McEwan.
“This is a program that is geared to help our students develop their skill sets.”
The program offers $1,800 in loans for those who qualify and $3,000 for those without.
The first group of graduates was given loans on March 27 and will receive $1.8 million, with the remaining recipients receiving loans in late July.
McEwan said the program is designed to give graduates the confidence they need to pursue careers in technology and media, while also enabling them to earn a degree and a future.
The National Student Loan Bank of America said it is also in the process of issuing loan forgiveness for graduates of digital academies in Arizona and California.
In the past, graduates have received loans from the US Department of Veterans Affairs.