The Education Assistance Loan Program will contain a “forgiveness clause” requiring a one to two year exchange. This means that if a student accepted a one-year loan, he/she would have to render service for the health system for two years, to reduce the debt to zero.
If the student opts out or the employee voluntarily or involuntarily separates employment, the loan is payable immediately. If a student fails to work after completion of the course, or is voluntarily or involuntarily separated from employment, the loan will become due and payable immediately with interest.