Jobs with loan forgiveness?

Nursing Students General Students

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Hello all! I am in a BSN program and, so far I have had to take out $10,000 in loans. I was wondering if jobs offering a benefit that repays your loans is a common thing among nurses? Specifically, I was wondering if Duke, UNC Rex, or WakeMed offered these kind of programs for new hire BSN? Also does anyone know the annual salary of the mentioned hospitals? Thanks in advanced for your help!

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Or are sign-on bonuses common when being offered nursing jobs?

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I live and work in a pretty high needs area -- meaning that most hospitals are consistently short staffed based on their projected RN needs and are usually very creative with their recruiting... that being said most employers offer tuition assistance after a certain period of time of employment, you are required to request approval for the assistance prior to enrolling or taking any courses, and repayment is usually based on the final grade.. (ie an A would get full assistance, B would get a % less, C a bigger % less,

Sign on bonus is normally seen only with certain specialties and then requires a certain number of years of experience.

Loan repayment for a new grad RN - I've not seen such an offer.

Best of luck to you.

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Specializes in Pedi.

I would highly doubt that such coveted employers would offer such a benefit. They don't need to offer it to draw people to work for them, they've got a line out the door of new grad applicants begging for opportunities.

Federal Perkins loans can be forgiven over 5 years if you are employed full time as an RN.

Federal Nursing loans can also be forgiven over time if you work in a "Health Professional Shortage Area." Certainly a hospital such as Duke would not qualify.

Loan forgiveness programs generally do not apply to private loans. $10,000 is not such a high amount of student loan debt that you shouldn't be able to pay it off quickly while working as an RN if you are smart with your money.

Sign on bonuses are not typically a thing for RNs, especially new grads, unless you want to move somewhere like North Dakota.

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Specializes in Psychiatric and Mental Health NP (PMHNP).

There is a difference between loan repayment and loan forgiveness. You can google the terms to understand the difference and what programs are available.

Loan repayment means your employer will repay part of your student loans for you. Some employers, like the VA and the military, as well as some civilian hospitals, offer this benefit. There may also be loan repayment programs from the federal and some state governments. You need to research this.

Loan forgiveness means the remaining loan balance is forgiven and goes away after a certain number of years. However, this only applies to certain types of loans and to certain work facility types. You need to research this.

$10,000 is not a very large amount. If you just paid $100 a month for 5 years, that's = 100 x 5 x 12 = 6,000 in 5 years, not including interest. You should be able to pay that off within 5 years pretty easily if you paid just $200 a month.

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Hi,

I have not heard of any hospital that helps repaying their employee's tuition obtained prior to getting hired. However, there are some government-sponsored programs that do offer loan forgiveness for public service. I know that teachers are qualified for TEACH grant once they have served as a full-time teacher for at least 10 years and having paid their loans. The rest of the loans will be forgiven. I have seen same program exists for healthcare providers. Checkthis out: NURSE Corps Loan Repayment Program | Bureau of Health Workforce

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Specializes in Urgent Care, Oncology.

Nurse Corps is hard to qualify for. It is based on your debt-to-income ratio. Those with 115%-120%+ DTI usually fare the best, and it also depends on if your area is a critical shortage area. I did Public Health for 8 months. Loved it but couldn't tough it out on that salary for at least 2 years to qualify.

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Health South pays back student loans, I want to say $5000 a year but don't quote me on that exact number. I'm not sure if there's any in NC, but they are in NJ, VA, SC, and FL that I know of.

PM me for info, I was just offered a position at Duke.

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I have more info to add for this, first HealthSouth will reimburse $200 a month for loans. (It used to be $500 recently lowered)

I was offered a position at Duke and after speaking to the education services, Duke also offers loan forgiveness, but I don't have the exact number yet.

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Yes! Duke does have a loan reimbursement program.

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