2008 Woodie Awards
New state legislation could affect student futures
Grant targets grads
Susanna Persson Oste
Issue date: 2/15/07 Section: News
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Concerned about the number of college graduates leaving Massachusetts after earning a degree from one of the state's numerous colleges and universities, state legislators are proposing a new bill offering a $10,000 grant towards the cost of housing which they hope will curb the brain drain of highly educated students to other parts of the country.
Sen. Brian Joyce, D-Norfolk, and Rep. Kevin Honan, D-Suffolk, say in their proposal that they are worried about the fact that a 2004 report from the Center for Urban and Regional Policy at Northeastern University showed that between 2001 and 2003, the number of 20-24 year olds fell by 11.5 percent, and the number of 24-34 year olds fell by 7.2 percent.
High costs for housing are identified as one of the reasons why young people are leaving the state. In a poll conducted by The Boston Globe, published on May 14, 2006, 50 percent of those who had moved to another state claimed that the cost of housing was a "major factor" in their decision to move.
Because of this, Sen. Joyce and Rep. Honan have proposed a bill titled Homeownership of Massachusetts Educated Students.
"We want to keep the 25-35 year olds in the state because they are an important part of the workforce and bear the economy," Matthew Gaines, chief-of-staff for Sen. Joyce said.
About $25 million will be allocated to help young educated individuals by offering a $10,000 grant toward the cost of the purchase of their first home. The program is open for those who have a less-than-10-year-old degree from a state-accredited post-secondary school, vocational-technical program or an approved apprentice agreement.
The proposal is still in its early stages, but if the bill passes people will have to apply in order to receive the grant, Gains said.
Official numbers from the Center for Urban and Regional Policy shows that the housing costs in Greater Boston rose 144 percent between 1995 and 2004, which makes it hard for newly graduated workers to afford living in the city.
Sen. Brian Joyce, D-Norfolk, and Rep. Kevin Honan, D-Suffolk, say in their proposal that they are worried about the fact that a 2004 report from the Center for Urban and Regional Policy at Northeastern University showed that between 2001 and 2003, the number of 20-24 year olds fell by 11.5 percent, and the number of 24-34 year olds fell by 7.2 percent.
High costs for housing are identified as one of the reasons why young people are leaving the state. In a poll conducted by The Boston Globe, published on May 14, 2006, 50 percent of those who had moved to another state claimed that the cost of housing was a "major factor" in their decision to move.
Because of this, Sen. Joyce and Rep. Honan have proposed a bill titled Homeownership of Massachusetts Educated Students.
"We want to keep the 25-35 year olds in the state because they are an important part of the workforce and bear the economy," Matthew Gaines, chief-of-staff for Sen. Joyce said.
About $25 million will be allocated to help young educated individuals by offering a $10,000 grant toward the cost of the purchase of their first home. The program is open for those who have a less-than-10-year-old degree from a state-accredited post-secondary school, vocational-technical program or an approved apprentice agreement.
The proposal is still in its early stages, but if the bill passes people will have to apply in order to receive the grant, Gains said.
Official numbers from the Center for Urban and Regional Policy shows that the housing costs in Greater Boston rose 144 percent between 1995 and 2004, which makes it hard for newly graduated workers to afford living in the city.
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