HCA Midwest Health Work Loan Forgiveness

All students will have a work commitment of two years of full-time employment as a Registered Nurse after graduation at an HCA Midwest Health facility.

If you choose to do part-time then your time will move from two years to four years. PRN work does not count towards the fulfillment of the contract.

First Year graduates must work as an RN within Medical/Surgical/Telemetry, ICU/Stepdown, Operating Room, Emergency Room or Behavioral Health. Second Year graduates are eligible to work as an RN in practice areas not previously mentioned in accordance with facility transfer policies.

Information gathered on the application will be used going forward to better connect you with the nursing leadership at your facilities of interest. Indication of facilities or nursing specialties are nonbinding during the HCA Midwest Health Work Loan Forgiveness application process.

The HCA Midwest Health Work Loan Forgiveness program will cover 75% of your tuition for your BSN program. Fees are not included in the loan forgiveness. The loan amount is considered loan forgiveness and will be taxed over your work commitment and satisfied by your completed two-year work commitment. If you do not work for an HCA Midwest Health facility, then the loan forgiveness portion will become a loan that has to be paid back to HCA Midwest Health.

You will sign a promissory note at the beginning of every term that you receive the HCA Midwest Health Work Loan Forgiveness. We will use this promissory note as payment for your tuition for that term.

You will move into the repayment period 6 months after graduation if you have not secured a job within HCA Midwest Health. Your repayment will begin 6 months after you graduate or cease to be enrolled, you will make 24 equal installments on the loan forgiveness amount. If payment is not completed, you will be sent to a collection agency.

Yes, you can transfer your loan to another HCA Midwest Health facility. You would need to let your new facility know that you have the HCA Midwest Health Work Loan Forgiveness and they should be able to work with the previous one to get your paperwork transferred.

Taxes will be deducted on the stated amount of loan. Whichever HCA Midwest Health facility you work at will be responsible for taxing your loan portion of these funds. They will divide out the 75% by the amount of years that you are required to work, based on the amount of loan that you borrowed. They will then take that yearly amount and divide it out over the twenty-six (26) pay-checks that you will receive in a year. That amount is then added to your gross income and then taxed. Each individual’s tax amount will be different based on how you complete your W- 4.