(1) Within existing resources, the office of student financial assistance shall establish the work-study opportunity grant for high-demand occupations, a competitive grant program to encourage job placements in high-demand fields. The office shall award grants to eligible institutions of higher education that have developed a partnership with a proximate organization willing to host work-study placements. Partner organizations may be nonprofit organizations, for-profit firms, or public agencies. Eligible institutions of higher education must verify that all job placements will last for a minimum of one academic quarter or one academic semester, depending on the system used by the eligible institution of higher education.
(2) The office may adopt rules to identify high-demand fields for purposes of this section. The legislature recognizes that the high-demand fields identified by the office may differ in different regions of the state.
(3) The office may award grants to eligible institutions of higher education that cover both student wages and program administration.
(4) The office shall develop performance benchmarks regarding program success including, but not limited to, the number of students served, the amount of employer contributions, and the number of participating high-demand employers.