higher education

RISLA to support internships, ease debt crush

PBN FILE PHOTO/FRANK MULLIN
THE R.I. STUDENT LOAN AUTHORITY announced a program designed to support Rhode Island students who participate in internships by forgiving a portion of their student loans. The RISLA program dovetails with Gov. Lincoln D. Chafee's work immersion program through the Governor's Workforce Board.
Posted 3/20/13

PROVIDENCE – The R.I. Student Loan Authority has announced a loan forgiveness program meant to encourage students to pursue internships and help ease student loan debt.

The program also is meant to help offset fees that students may incur when they take internships for credit.

Students would be eligible for one $2,000 forgiveness per three-credit paid or unpaid internship, with a limit of one forgiveness per student, for any R.I. Student Loan Authority, non-federal loans.

Students must be matriculated at a Rhode Island higher education institution or be a Rhode Island resident attending an out-of-state institution.

The student’s school must validate that the internship was for credit and that the student completed a degree certificate.

Loan forgiveness will be eligible for 2013 summer internships. The loan forgiveness will be taxable income and students will receive a 1099 for the tax year in which they become eligible for the forgiveness.

The loan authority announced the program Wednesday in a meeting with the Governor’s Workforce Board, which highlighted Gov. Lincoln D. Chafee’s proposed work immersion program.

That program would provide temporary, paid work experience for post-secondary school students and unemployed adults while helping local businesses by training residents for potential employment.

Rhode Island residents must be 18 years old or enrolled in a Rhode Island college or university to participate. The program would give 50 percent wage subsidy to employers that would increase to 75 percent retroactively if that participant is hired permanently at the completion of the immersion period.

Chafee has proposed budgeting $2 million in the FY2014 budget for the program.

Calendar
PBN Hosted
Events

Join PBN and two panels of successful female executives, business owners and entrepreneurs as we delve into what women should do to advance their careers, and become leaders in the corporate world and their own enterprises.
  • Book of Lists Party
    Save the date - January 15, 2015 for PBN's Book of Lists Party at the Providence ...
Advertisement
Purchase Data
Book of Lists
Lists
Book of Lists cover
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.
Data icons
Data can be purchased as single lists, in either Excel or PDF format; the entire database of the published book, in Excel format; or a printed copy of the Book of Lists.
  • Purchase an e-File of a single list
  •  
  • Purchase an e-File of the entire Book of Lists database
  •  
  • Purchase a printed copy of the Book of Lists
  •  
    National
    Local
    Latest News
    Advertisement