Atrium Health Colleges Loan Forgiveness Programs

Atrium Health is committed to the development of a well-trained workforce to meet the evolving needs of the healthcare environment. Atrium Health is also committed to the educational and professional development of all teammates.

Two essential components of the Atrium Health system are Cabarrus College of Health Sciences and Carolinas College of Health Sciences. Both of these colleges provide exceptional training in clinical and/or laboratory science programs and have priority access to clinical training sites within Atrium Health.

One of the ways in which Atrium Health expresses its commitment to the community, the future healthcare workforce, Atrium Health teammates, and alumni of Cabarrus College, Carolinas Colleges and Mercy School of Nursing is through the Atrium Health Loan Forgiveness Program.

The Atrium Health Loan Forgiveness program is for students enrolled in approved healthcare programs being offered at:

This loan defers payment on principal and interest until the student leaves the program. If the student graduates and becomes employed (full-time, minimum of 32 scheduled hours per week) with a participating Atrium Health facility in the field for which they were educated, a work commitment/forgiveness option is available. If the student leaves the program by withdrawal or dismissal, payment plans are available at that time.

Approved Programs Available at Each College

Frequently Asked Questions (all programs)

Can I use the Atrium Health Loan Forgiveness Program at any college or university?
No, the Atrium Health Loan Forgiveness Program can only be used at Atrium Health’s Cabarrus College of Health Sciences or Carolinas College of Health Sciences.

What happens to my loan if I can’t start to work within six (6) months of graduation (i.e. I do not get licensed as anticipated)?

• If six (6) months after graduation, you have not started to work in a full-time position at a participating Atrium Health facility (in the field for which you used the loan forgiveness funds), your loan will be due in full and turned over to Atrium Health’s billing agency. Payments are divided over 36 months and interest is added. This one action does not go against your credit rating.
• If within twelve (12) months after graduation, you begin work in a full-time position at a participating Atrium Health facility (in the field for which you used the loan forgiveness funds), Atrium Health will recall the loan amount due from the billing agency and forgiveness will begin. These situations must be reviewed and approved by the Atrium Health Human Resources staff.
• It is the student’s responsibility to notify the Atrium Health Benefits Coordinator of employment.

If I start to work for Atrium Health within six (6) months of graduation, but then go out on a leave of absence, what happens to my loan?

• As long as you remain an Atrium Health employee, the loan forgiveness will continue for up to a twelve (12)-week leave of absence.
• At the end of the twelve (12) weeks, the forgiveness stops, and the loan becomes due. The loan will be turned over to Atrium Health’s billing agency for payments to be set up until which time you return to work from the leave of absence (must be continuous employment).
• At the time of your return from the leave of absence, the loan will be recalled, and the forgiveness will restart.

If I start to work for Atrium Health within six (6) months of graduation, but family matters require me to leave town and terminate my employment, what happens to my loan?

• The student loan agreement explains that the borrower must maintain full-time employment status in the type of position for which they were educated in order to receive loan forgiveness, at an Atrium Health participating facility.
• If employment status changes for any reason and you are no longer able to service repay your loan, you will be in default. Upon an event of default, the entire amount of outstanding principal and interest due shall be accelerated, and due and payable without notice. If you are unable to immediately repay your remainder due, the loan will be moved to monthly repayment with UAS our billing agency. This one action does not go against your credit rating. Payment is divided over thirty-six (36) months with an interest rate of 5% applied.  

If I decide that I want to change to a weekender status. Can loan forgiveness continue?
No, you must be in a regular full-time (at least 32 scheduled hours per week) position classification at a participating Atrium Health facility in the field for which you used loan forgiveness funds.

How is forgiveness calculated?

• For Atrium Health Loan Forgiveness Agreements signed before the Fall (August) 2019 term, the length of service required for forgiveness is calculated by taking the number of semesters that you received the loan and multiply it by four (4) months (i.e., four (4) semesters X four (4) months equals a total of sixteen (16) months of full-time work to “forgive the loan”).
• Effective with Atrium Health Loan Forgiveness Agreements signed for the Fall (August) 2019 term and beyond, the length of service required for forgiveness is one (1) year/twelve (12) months for every $5,000 increment of the loan. Calculations for determination of length of service required for partial increments of less than $5,000.00 will be pro-rated.
• The total amount borrowed will be divided by the total number of repayment months to determine the amount per month that is forgiven.
• There are twenty-six (26) paychecks per year. Therefore, the forgiveness amount is divided equally between the paychecks and this counts as “income” and you are taxed on it. The actual amount of forgiveness is not “taken out of your check” – only the amount that you are taxed on that income.

How does loan forgiveness show up on my check?
Your pay stub will reflect “imputed earnings” and the amount you are forgiven for the period will show up in the “paid section” but then it is backed out. The amount that is actually deducted from your check is the tax and will be noted in the taxable area of our pay stub.

Can the Atrium Health Loan Forgiveness Program be used to pay for books and other expenses?
No, it is applied only to actual tuition, and cannot result in any loan proceeds going directly to the student. See the Promissory Note and Atrium Health Loan Program Agreement for full details.

Am I guaranteed a position with Atrium Health?
No, participation in the loan forgiveness program does not guarantee an eligible position within Atrium Health.

Frequently Asked Questions (specific to RN-BSN)

Who is eligible for the Atrium Health RN-BSN Loan Forgiveness Program?
Only Atrium Health nursing teammates or nursing alumni of Cabarrus College of Health Sciences, Carolinas Colleges of Health Sciences or Mercy School of Nursing.

What is the amount available through the Atrium Health Loan Forgiveness Program for the RN-BSN?
Up to $10,000.00

I started the RN-BSN 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.

I used the Atrium Health Loan Forgiveness Program for my nursing associate’s degree. Am I eligible to participate for my RN-BSN?
Yes

I am an Atrium Health teammate. I used the Loan Forgiveness Program for my nursing associate’s 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 the RN-BSN loan forgiveness will begin after you graduate with your BSN and will be added to any remaining work commitment from the nursing associate’s degree loan forgiveness program.

6. I am a Cabarrus College, Carolinas College or Mercy School of Nursing alumnus, but I am not an Atrium Health teammate. Am I eligible for the Atrium Health Loan Forgiveness Program?
Yes, but you will have to repay the loan with monthly payments. There is a six (6) month grace period. The repayment term is thirty-six (36) months at 5% interest. If you secure employment with Atrium Health within six (6) months of your BSN graduation, you can convert your repayment to the work commitment terms.

Will participation in the Atrium Health Loan Forgiveness Program affect my salary when I am fulfilling the work commitment?
No, you will receive your full salary. Your work commitment is what repays the loan, so there is no payroll deduction. However, the Atrium Health Loan is a taxable benefit at the time you go into repayment.

Can my associate’s degree work commitment repayment be deferred while enrolled in the RN-BSN program?
No

Where can I get information about the EdAssist Program?