Rhode Island Commerce Opens Wavemaker Fellowship Applications
PROVIDENCE, R.I. – June 23, 2026 – Rhode Island Commerce today announced the start of a new application period for the Wavemaker Fellowship, a competitive student loan reimbursement program for professionals working in STEM (Science, Technology, Engineering, and Mathematics), certain design fields, healthcare and education.
The Wavemaker Fellowship awards eligible college graduates refundable tax credits of up to $6,000 per year for up to four years. The goal of the program is to help Rhode Island businesses attract and retain talent, and to build upon Rhode Island’s skilled workforce.
“Rhode Island is home to some of the brightest young minds in the nation, and the Wavemaker program helps keep their talent here,” said Governor McKee. “Retaining a skilled workforce is important for economic growth and ensuring our state remains competitive. I encourage eligible applicants to take advantage of this great opportunity.”
“Our colleges and universities are developing the next generation of talented professionals,” said Secretary of Commerce Stefan Pryor. “Programs such as Wavemaker help us to retain and further foster that talent, enabling participants to establish their careers and contribute to the success of their employers right here in Rhode Island.”
This application period is the second to include designated funding for primary care providers (PCPs). In order to help address the state’s shortage of PCPs, in 2024, the General Assembly added $500,000 to the Wavemaker program reserved specifically for this subset of Fellows. In the state’s FY27 budget, the General Assembly also provided an additional $1,016,621 in funding for the Wavemaker Program.
In addition to the refundable tax credit, Wavemaker Fellows can also participate in network building and personal and professional development programming and events. In total, Rhode Island’s Wavemaker Fellowship has been awarded to more than 1,600 Rhode Islanders since the program’s establishment in 2016.
Applications are due Friday, July 31, 2026, at 11:59 p.m.
For more information and to apply, visit wavemaker.commerceri.com.
Contact: Giselle Mahoney
(401) 545-0626
[email protected]
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