I'm finishing up school at Research College of Nursing in Kansas City, MO. They have a traditional and accelerated option for nursing students. Both options have a pay-back system such as the one you are asking about. It's basically referred to as the "loan forgiveness program" and it's through HCA. A traditional nursing student will go through a four year program, with 2 and 1/2 years focused on nursing specific courses. The accelerated option is for students with previous bachelor (four year) degrees. The accelerated program is one full year, and very intensive.
With the traditional option, HCA will pay for half of your tuition as a sophomore, 3/4ths of your tuition as a junior, and full tuition your senior year. In return, you owe three years to working at an HCA hospital, preferably in the area. As an accelerated student, after one intensive year of course work, in which HCA will fully pay for, you will owe two years of work at an HCA hospital. Once you graduate from either program, you will recieve regular pay checks. The only money taken out of your pay checks during the years that you owe HCA after graduation, are taxes on the loaned out money.
Another option is that if you graduate and move out of the area, and can not work at an HCA hospital (and have the existing loan), you will be responsible for paying back 50% of the full loan amount within one year after graduation. You can pay partial amounts, or pay the full amount at once.
This program is through HCA pairing up with Research College of Nursing. There are some other great schools in the area that have the same kind of program, but this is the one I know so much about, because I'm in the program now. I love Research College! The classes are small, and teachers are incredible student advocates. We have students of all age, and although nursing school can be a tough transition, I have loved being a student there!
Good luck on your quest for a good school!!!!!!