RI S2662

Establishes the Rhode Island Student Loan Repayment Fund administered by RISLA to pay monthly student loan payments directly to employers for up to 24 consecutive months on behalf of eligible employees

Requires participants to work full-time for 2 consecutive years in a high-need profession identified by the Department of Labor and Training as addressing workforce shortages, with preference given to those working in federally designated health professional shortage areas

Eligibility limited to individuals employed in high-need professions for fewer than 3 years who have unpaid student loans and are enrolled in federal income-driven repayment programs

Allows leaves of absence up to 1 year (or 3 years for military service) that pause payments, and provides 18 months to find new qualifying employment after a reduction in force

Mandates RISLA include program evaluation in annual reports covering number of approved applicants, total dollars paid, participating employers, and whether recipients attended in-state or out-of-state institutions