Announcement From RISNA Government Affairs Committee - Wavemaker fellowship applications are being accepted until October 13th
Posted about 17 hours ago by Leslie Scales
Announcement From RISNA Government Affairs Committee
Urgent: Application for Student Loan Debt Relief for Professionals in Healthcare, STEM, & K-12 Teachers NOW OPEN
Eligible Nursing Roles: Nursing Assistants, Licensed Vocational Nurses, Licensed Practical Nurses, Nurse Midwives, Nurse Practitioners, Nursing Instructors & Teachers (post secondary) and Registered Nurses
The Wavemaker Fellowship application for 2025 is now OPEN
More Information: https://wavemaker.commerceri.com/
Pending eligibility (reviewed in 12-month intervals post-acceptance), Fellows can receive tax credits for up to four years equal to the Fellow’s annual loan repayment expenses up to the following caps:
- $6,000 for a Fellow with a Master's degree or higher
- $4,000 for a Fellow with a Bachelor’s degree
- $1,000 for a Fellow with an Associate’s degree
RNs have approximately $48 billion of student loan debt outstanding. As part of State workforce advocacy efforts and with the support of Governor Daniel Mckee the healthcare sector (including nursing) was added to the Wavemaker Fellowship last year. “The Wavemaker Fellowship is a key part of our strategy to ease the burden of student loan debt in Rhode Island, while helping the State retain skilled talent,” McKee has said. This program further underscores recognition of the nursing workforce in Rhode Island by categorizing us as a STEM profession. Nurses are ingenious innovators, who ground their daily practice in biological and behavioral science, although their nursing degrees are often not recognized as STEM degrees. This strategy is a meaningful way RISNA’s Government Affairs Committee has been able to partner with lawmakers across the State on meaningful and progressive nursing workforce strategies.
More Information:
Website: https://wavemaker.commerceri.com/
Who is Eligible for the Fellowship?
- To be eligible, an applicant must:
- Have a two-year, four-year or graduate degree from an accredited institution. The Commerce Corporation references the U.S. Department of Education's list of accredited institutions.
- Have annual higher education loan repayment expenses.
- Work full-time, or have an offer of employment to work full-time, in Rhode Island in one or more of the following fields: life, natural or environmental sciences; computer, information or software technology; advanced mathematics or finance; engineering; industrial design or other commercially related design field; medicine or medical device technology or a Teacher (K-12).
The program offers qualifying individuals a refundable Tax Credit Certificate worth the value of their annual student loan burden for up to four years. In addition to the financial benefit, Fellows are invited to participate in various personal and professional development programs, social and professional networking opportunities, community-based events and more.
FAQs: Wavemaker FAQ- August 2025_Final.pdf
List: 2025 In demand Roles STEM, Design, Healthcare, and Teachers K-12.pdf
For further inquiries, please contact:
Barry O'Connor
401- 278-9153
References:
1.) https://bhw.hrsa.gov/sites/default/files/bureau-health-workforce/Nurse-Survey-Fact-Sheet-2024.pdf