Applications open for new round of Wavemaker Fellowships

Applications are open for Rhode Island Commerce’s 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 $1,000 to $6,000 per year for up to four years. The program aims to build upon Rhode Island’s skilled workforce and help Rhode Island businesses attract and retain talent. Since it launched in 2016 under former Gov. Gina Raimondo, more than 1,600 Rhode Islanders have benefited from the program.

The state’s fiscal 2027 budget includes $1,016,621 in funding for the Wavemaker Program.

“Rhode Island is home to some of the brightest young minds in the nation, and the Wavemaker program helps keep their talent here,” said Gov. Dan 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.” 

In addition to the refundable tax credit, Wavemaker Fellows can also participate in network building and personal and professional development programming and events. 

Applications are due Friday, July 31, 2026, at 11:59 p.m.

For more information and to apply, visit wavemaker.commerceri.com.