On Sept. 6, the Rhode Island Commerce Corporation announced that 240 Ocean State-based professionals were chosen for the third round of the Wavemaker Fellowship.
For the uninitiated, the Wavemaker Fellowship is a program that looks to inspire graduates to pursue their careers in STEM and other key sectors via student loan reimbursement.
The fellowship, established in 2016, provides graduates who are working in science, technology, engineering, mathematics and some design fields with a refundable tax credit that covers student loan payments of up to $6,000 per year for up to four years; the average annual award is over $3,600. Since its impetus, the program has seen an increase in fellows, with 208 in its first cohort and 224 in its second.
“We’ve created thousands of jobs in the past four years, and I want Rhode Islanders to get those jobs,” said Gov. Gina Raimondo. “We’re fortunate to have so many institutions of higher learning in our state, but too often, graduates are faced with a tough choice between working here or taking offers elsewhere. The Wavemaker Fellowship can make that decision a little easier while enhancing Rhode Island’s workforce and retaining our best and brightest.”
The applications opened in April and garnered an estimated 400 submissions. The Commerce Corporation said it considered proposals on "a variety of criteria," with especial focus on how the award would keep applicants in Rhode Island and their work in key advanced industries.
“Financially, the Wavemaker Fellowship is going to help me to pay down my student loan quicker, which will allow me to invest that money towards my retirement here in Rhode Island," said MIKEL, Inc. Financial Analyst Marcela Burke, in a statement on the program. "I’m also excited about the other opportunities such as social networking, workshops, and development opportunities and I look forward to learning from and meeting others in this group of talented individuals."
Read the full list of fellows here.
