RISLA Loan Forgiveness For Internships
To Be Eligible …
- Internship must be after 5/1/13, may be located in RI or out-of-state and may be paid or unpaid.
- Internship must be for 3 credits and be on transcript, validated and certified by an institution of higher education.
- The student must graduate from their program of study and earn a degree or certificate in order to receive the loan forgiveness.
- Forgiveness will be awarded after graduation.
- Student must apply for loan forgiveness within one year of graduation date from college.
- Student must have a RISLA Student Loan with an outstanding balance at the time he/she becomes eligible for forgiveness.
- For the purpose of this program, internships, independent studies and practicums that are required for a particular major would not qualify.
- Student must be a Rhode Island resident or attend an RI institution of higher education.
How it works
Students can earn loan forgiveness up to $2,000 by completing an eligible internship and applying for RISLA’s Loan Forgiveness for Internships program within one year of graduation. Loan forgiveness will be awarded to
qualifying borrowers on non-federal education loans held by RISLA with an outstanding balance. Students must submit an application to RISLA within one year of college graduation in order to be considered for this program.
If eligible, applicants will be awarded loan forgiveness up to $2,000 after graduation. In cases where the outstanding RISLA Student Loan balance is less than $2,000 at the time the student becomes eligible for this program, the student shall receive a credit on their outstanding balance only.
Loans That Qualify
- Non-federal loans (state loans, private loans, etc.)
You can learn more here.