In an effort to address her state’s high rate of student debt, Rhode Island Governor Gina Raimondo announced her signature scholarship program — Rhode Island’s Promise — in September 2015.

It rewards high-performing students who elect to attend an in-state college or university and help them “complete their academic studies and be prepared to compete in a 21st-century economy.”

The $10 million pricetag is a significant jump in need-based grants for the state and more than 6,000 students are already benefitting in the 2015-16 academic year. The award can be as high as $4,000, but the typical benefit this year is about $1,000.

The Providence Journal reported: “This effort is aimed at increasing the impact of state grants by offering bigger awards to fewer students — and only those who are Rhode Island residents and attend public or private college in the state.”