Any hospitals offer loan forgiveness?

  1. Does anyone know of any hospitals in Southeastern Michigan that offer loan forgiveness to employees as part of their benefit package?
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  2. 8 Comments

  3. by   07302003
    1. St. John 2. Henry Ford. Their loan forgiveness programs change, I don't know specifics, so call. Last I knew it was $8000-$12,000 in exchange for a work commitment.
  4. by   7-7-2004
    Thanks so much for the info!
  5. by   courtney779
    I am currently working through a local agency and have a 13 week contract (I dont actually work for a hospital). Does anyone know of any loan forgiveness or loan repayment opportunities that would help me with my loans. I am in Birmingham, AL, but after my contract I would be willing to travel elsewhere (temporarily) is it was worth my while, like to get a chunck of my loan paid off. Can anyone help????? Thanks
    Courtney
  6. by   jessi1106
    A friend recieved a postion at the VA in Ann Arbor, and stated that they do up to 40K. It's secondhand information, but well worth looking into.
  7. by   DAMomma
    Quote from 07302003
    1. St. John 2. Henry Ford. Their loan forgiveness programs change, I don't know specifics, so call. Last I knew it was $8000-$12,000 in exchange for a work commitment.
    Humm, my loan balance is very small. I thnk < $4,000. Even though I am not in repayment yet, we were going to start paying this off next December so we would be student loan free by the time I graduate (Dec '08). Hummmm, should I wait till after I graduate to possibly look into these loan forgiveness programs? I hate debt! I am itching to pay this off.
  8. by   suzanne4
    Quote from courtney779
    I am currently working through a local agency and have a 13 week contract (I dont actually work for a hospital). Does anyone know of any loan forgiveness or loan repayment opportunities that would help me with my loans. I am in Birmingham, AL, but after my contract I would be willing to travel elsewhere (temporarily) is it was worth my while, like to get a chunck of my loan paid off. Can anyone help????? Thanks
    Courtney
    This thread is talking of places in Michigan. Suggest that you post something under your state. This is specific only to this state and will not apply to other states.
  9. by   thyme39
    Typically, they pay off your loan(or a part of it) in exchange for a period of time you work for them. For instance, if your loan wa 4,000 and they reimburse yo 2000 per year you would work for them for 2 years. It's not a bad deal as you are being paid and get benefits and in addition they are paying off your loan. The catch is that you should be sure you want to work for them because if you quit you will need to pay whatever money you didn't work off. I don't say this in a bad way. I used to think only places that couldn't get anyone to work for them would do loan forgiveness but there is such a need that places that are good to work are doing it too. And if you only have 4,000 to go then the time wouldn't be that great. The other side of the coin is that if you don't need to pay off any loans you can use other criteria when searching for a position, like the hours you want, location, signon bonus, etc. It's really what you are looking for and what you can afford. I had to take a loan to live on so that will be the first one I am paying off since it is the most expensive. So if I decide to go with a loan forgiveness program, that will just be so much less I have to pay overall. Also, doesn't MI have something where if you work in MI they will forgive some of your loans? Did you check with them?
  10. by   RN_MIKE
    Check out this site for loan forgiveness, i have been looking into it myself.



    http://bhpr.hrsa.gov/nursing/loanrepay.htm

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