Internships are generally unpaid. But they will pay off handsomely under a new program announced Tuesday by the Rhode Island Student Loan Authority. Starting May 1st the Authority, known as RISLA, will forgive $2,000 of a student’s loan if he or she completes an internship worth three credit hours. It will be forgiven upon graduation.
RISLA director Charles Kelley says the idea is to stem the brain drain, the practice of promising young college students leaving the state for lack of work.