Home Economy McKee files budget amendment to extend Hope Scholarship program to 2030

McKee files budget amendment to extend Hope Scholarship program to 2030

By

PBN Staff

-

04/08/2024

GOV. DANIEL J. McKee has filed a budget amendment to extend Rhode Island College’s Hope Scholarship program for an additional two years through July 1, 2030. / COURTESY RHODE ISLAND COLLEGE

PROVIDENCE – Gov. Daniel J. McKee on Monday filed a budget amendment to extend Rhode Island College’s Hope Scholarship program for an additional two years through July 1, 2030. Established as a pilot program in April 2023, the Hope Scholarship makes the final two years for eligible students earning a bachelor’s degree at RIC tuition-free,

Already a Subscriber? Log in

To Continue Reading This Article

Become a Providence Business News subscriber and get immediate access to all of our premier content and much more.

Learn More and Become a Subscriber

Critical RI business news and analysis updated daily.
1 year of print (26 issues).
Unlimited access to all subscriber only content on our website, on any device.
Free email alerts.
Annual Book of Lists Print Edition.
All special issues produced during subscription term.

Click Here to purchase a paywall bypass link for this article

PBN Branded Content

Rhode Island FC To Offer Local Businesses Top-Notch Networking Opportunities in 2025

The perfect atmosphere for entertaining clients or hosting employees, The Stadium at Tidewater Landing will…

Learn More

No posts to display

LEAVE A REPLY Cancel reply

PROVIDENCE – Gov. Daniel J. McKee on Monday filed a budget amendment to extend Rhode Island College’s Hope Scholarship program for an additional two years through July 1, 2030. Established as a pilot program in April 2023, the Hope Scholarship makes the final two years for eligible students earning a bachelor’s degree at RIC tuition-free, similar to what the Community College of Rhode Island’s Rhode Island Promise program offers. The legislation approved in 2023, which is paid for by $4 million from the state’s general revenue, creates the scholarship that will close the financial gap after students’ academic finances and all other forms of financial aid have been exhausted. It is open to in-state juniors and seniors at RIC who maintain a 2.5 grade-point average or higher and are on track to graduate or earn an approved certificate in four years. Without the budget amendment, the pilot program is slated to end with the final cohort graduating high school in May 2025. "The Hope Scholarship is already making a tremendous impact for the 243 students who are able to continue their education this year tuition-free. It empowers them to focus exclusively on their academic success, without the stress or distractions of student loans or working too many hours,” said Jack Warner, president of RIC. “The proposed extension of this transformative program will enable the state to accrue a real return on investment, as the education level of our workforce increases, and the economic mobility of our graduates rises." As of April 2024, 243 RIC juniors and seniors have benefitted from the scholarship in the 2023-2024 academic year, which has saved an estimated $2.1 million in tuition and fees during that span for those students, according to McKee’s office. “Supporting students and giving them the financial flexibility to pursue higher education and career pathways is at the core of Hope Scholarship,” said McKee. “I’m proud to extend this opportunity for Rhode Island College students to build a bright future right here in the Ocean State.”