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The GROW U program will cover the cost of tuition, fees and books.
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The company will manage the property in conjunction with the ownership of the state fair board.
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The park earlier threatened to cancel the project as its initial payment for the ride was due.
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The first payment to the manufacturer is due and the board governing their lease has not yet approved.
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The new ride will be 1,280 feet long.
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The park also has to rely on overseas resources to fill positions.
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Two rides and two 5D films will join the lineup.
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The RMC roller coaster will be its second new coaster in as many years.
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The park is preparing plans for new rides, including the return of the suspended looping coaster.
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The amusement park says that the original suit is claiming false injuries.