The bill introduces the Rhode Island Hope Scholarship Pilot Program Act, which aims to make four-year college degrees more accessible to students by providing a merit-based tuition reduction program. This program is particularly focused on increasing enrollment and completion rates at Rhode Island College, especially in high-demand fields. The act establishes the scholarship program, which will be funded by the General Assembly and can accept charitable donations. It covers up to two years of tuition and mandatory fees for eligible students in their junior and senior years or adult students with at least 60 credit hours, with the award amount being reduced by any other financial aid received. The act defines various terms related to the program and assigns the financial aid and admissions offices at Rhode Island College the responsibility of administering the scholarship program.

Eligibility criteria for the scholarship include being a full-time student with a declared major and at least 60 credit hours, qualifying for in-state tuition, completing the FAFSA or an equivalent form, maintaining a GPA of 2.5 or higher, and committing to live, work, or continue education in Rhode Island after graduation. The bill also includes provisions for students with disabilities, those on approved leave, and military service members. Rhode Island College is required to develop a policy to secure commitments from recipient students and to report annually on the program. The act is set to take effect on July 1, 2023, and will expire on January 1, 2029.

Statutes affected:
5099: 16-59-9