Interested in the Atrium Health Loan Forgiveness Program? Learn about all the details and frequently asked questions and see if the program is right for you.
Details of Loan Forgiveness
- The student must work as the healthcare provider for which they have been educated in a qualifying program at Cabarrus College of Health Sciences
- Student must accept full time (standard 32 hours per week) employment with an eligible Atrium Health facility
- Full-time (standard 32 hours per week) employment must begin within 6 months of graduation. There is no guarantee/promise of employment
- Graduate/employee must remain in good standing (satisfactory work performance) for a period of time equal to that for which monies were advanced (one year of service for every $5,000 borrowed)
- Loan is interest free if full time employment is started within 6 months of graduation
- Students who fail to complete their academic program and/or who do not complete the service requirement are responsible for repayment of the loan and Interest
At the time of forgiveness (pay period), the amount forgiven is considered taxable income.
Atrium Health Forgivable Loan FAQs
For students committed to working in critical need positions at an eligible Atrium Health location after graduation. Loan forgiveness may be available at the discretion of Atrium Health. Available for the following academic programs: Medical Assisting Diploma, Surgical Technology Associate Degree, Nursing (ADN, RN-BSN), Accelerated BSN, and Traditional BSN.
The RN-BSN program is only eligible for Atrium Health nursing teammates or graduates of Cabarrus College or Carolinas College.
No, the Atrium Health Loan Forgiveness Program can only be used at Atrium Health's Cabarrus College of Health Sciences and Carolinas College of Health Sciences.
Up to $10,000.00 per degree. Up to $5,000.00 per diploma.
I started a Loan Forgiveness eligible program prior to its inclusion in the Atrium Health Loan Forgiveness Program. Am I eligible?
Yes. It can be used to cover the tuition for the courses remaining in your program of study.
No, it is applied only to actual tuition.
I graduated from Carolinas College of Health Sciences and participated in the Loan Forgiveness Program for my Nursing Associate degree. Am I eligible to participate for my RN-BSN at Cabarrus College of Health Sciences?
I am an Atrium Health teammate. I used the Loan Forgiveness Program for my prior degree and still have time remaining in my work commitment for that program. Am I eligible to participate for my RN-BSN?
Yes, your work commitment for your loan forgiveness will begin after you graduate with your BSN and will be added to any remaining work commitment from the Nursing Associate degree loan forgiveness program.
Each year of full-time work commitment (at least thirty-two (32) scheduled hours per week) with a participating Atrium Health facility working in the field in which you are funded repays $5,000. (PRN and Weekender schedules are ineligible)
I have utilized the Atrium Health Loan Forgiveness Program, but have chosen not to work at Atrium Health after graduation to service repay my loan, can I still use the maximum allowed amount for my eligible program?
Yes, but you will have to repay the loan with monthly payments. There is a six ( 6) month grace period before monthly payments begin. The repayment term is thirty-six (36) months at 5% paid monthly.