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MJ Foster Promise: Regents hear report showing credential gains, warn of funding shortfall
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Summary
The MJ Foster Promise program supported more than 3,000 students in year two and produced roughly 1,476 credentials; Regents were told the program substantially raised graduate wages but that MJ Foster is trending toward running out of funds again without additional appropriation.
Board staff presented the annual report on the MJ Foster Promise program, reporting rapid enrollment growth and measurable earnings gains for program completers but flagging a near-term funding shortfall.
Dr. Tristan Denley said the MJ Foster Promise — an adult-focused financial-aid program created to support workforce-oriented training — supported more than 3,000 students in its second year and that the program issued roughly 1,476 credentials. "This year, we spent all the money almost by Christmas time," Denley said, describing administrative changes that shifted the program to a first-dollar model for the first semester and extended FAFSA deadlines to increase participation.
Staff reported a demographic profile consistent with the program’s intended target: a high proportion of recipients were age 30 or older and many were low-income. Denley said 65% of recipients had family income below a $27,000 household survival budget and 69% of credential earners were African American; 74% of completers were female.
On labor-market outcomes, staff matched more than 90% of graduates to Unemployment Insurance wage records and reported a before/after earnings picture: average wages rose from roughly $20,000 prior to enrollment to slightly more than $40,000 after program completion — an average increase of about $20,000 for those matched in UI data.
Regents raised concerns about funding sustainability: a staff member noted $7 million remained in a related fund but that accessing it would require REC and Joint Legislative action; acceptance rates and current billing patterns suggested the program could exhaust available funds again by late fall or early winter.
The board approved senior staff’s recommendation to accept the MJ Foster annual report and authorized the commissioner to submit it to legislative committees.
What’s next: staff said they will continue to socialize funding needs with the legislature and recommended doubling the program’s appropriation in the budget request to address growth and demand.
