The Illinois Department of Transportation announced last week it will soon repay up to $60,000 in student loans for eligible employees over four years as part of an initiative to lure recently graduated engineers in an increasingly competitive job market.
The Higher Education Student Loan Repayment Assistance for Engineers Pilot Program will reimburse 50 Illinois-educated engineers up to $15,000 annually after four years of service at the agency.
IDOT hopes to incentivize young talent to remain in the state and the field, citing data from the American Council of Engineering Companies that shows a national shortfall of approximately 20,000 engineers per year due to retirements or departures from the field.
