Quote from hawflakes
I'm sure this has been posted before, but could anyone tell me how the loan forgiveness programs work for nursing programs?
1. When does one apply for the programs, before you start school, during school, or after you have graduated?
2. How much of your tuition do they cover? I've seen 25%, but do some offer 100%?
3. How long is the contract with most hospitals for?
4. What sort of hospitals are you usually placed at? Are they usually understaffed? Poorly funded?
5. Are there any cons to receive the loan forgiveness? Does being enrolled in this program affect your salary? Do you get paid a lower starting salary than those who aren't in the program?
I'll answer your questions regarding my OWN loan forgiveness program, but keep in mind it prob will not be the same...
1)I applied in the first few weeks of school, as did everyone else who wanted to do that in my program.
2)In my program, they cover 80% of tuition (not including books or fees)
3)4 months per semester of loan (which the loan is for 1800 per semester)
4) We have to stay in the hospital system (my school is through a healthcare system, so we must stay in the county I go to school in, at a hospital here.)
5)Not for us... basically even if you decide NOT to work at their facilities, and, for example move away, it's a 0% loan while you're in school... of course interested begins once you graduate if you choose not to be employed there, it is still a nice loan for a low APR.