The University of Mississippi Health Care has an established plan that provides educational assistance for the benefit of future registered nurse employees.

Health Care Professional Student Loan Documents

• HCPSL Requirements (.pdf)
  This document includes the steps needed to complete the application process.
• HCPSL Application Packet (.pdf)
  This packet includes the official application, tax forms, student reference forms, waiver and acknowledgement forms.
• HCPSL Rules & Regulations (.pdf)
  This document reviews loan information including eligibility, applicant selection, student loan information, military service, and loan repayment.
• HCPSL Student Checklist (.pdf)
  This handy document is a checklist of all information needed to complete the application process.

I would like to apply for the loan.  How much money does the student loan provide toward my education?
Full-time students (12 semester hours or more per semester) are eligible to receive reimbursement up to $2,000 per semester while enrolled in a nursing program.  The loan will not exceed $8,000.

Do I have to be a Mississippi resident in order to be eligible for the student loan program?
You must submit a copy of two documents that show proof of Mississippi residency.  These can be copies of home ownership/lease, voter’s registration card, motor vehicle registration, or driver’s license.

How long does it take to get the student loan money once I have been approved?
Once you have been approved, the Office of Nurse Recruitment will notify you with an award letter.  The Financial Aid Office will forward you promissory documents that must be signed and returned before any payment commences.  This usually takes 3-4 weeks.

I applied for the HCPSL program this semester, will I receive funds for future semesters automatically?
You must submit a certified copy of a current transcript indicating enrollment in a nursing program and a letter of good standing.

If I am accepted for the student loan program, how long must I agree to practice nursing at University of Mississippi Health Care?
It depends on the total amount of money you receive.  Each semester that you receive funds will require 6 months of service.  Your service time does not begin until you provide the Student Loan Office with the appropriate documentation during the exit interview.  

If I have other loans, scholarships, grants, etc., will the student loan program impact 
other monies I receive? 
It is your responsibility to check with your Office of Financial Aid at the school where you attend the nursing program, to see if you are eligible for this loan. Also, you are required to complete a FAFSA application, available online at ww.fafsa.ed.gov

What if I make a D or F in a course? Will I be able to continue on the student loan program?
If you fail, withdraw, or have to repeat any subject, you are suspended from participation and the reimbursements are suspended until the School of Nursing informs the Office of Nurse Recruitment that you can advance. You must submit in writing to the Office of Nurse Recruitment that you were unsuccessful in the course and indicate your new graduation date. A transcript must be submitted as proof of eligibility to be reinstated into the program. You may not receive funds twice for the same semester and/or coursework.             

What happens if I should fail my state boards?
You must successfully complete the Licensure Exam within 90 days of hire date. Per UMHC policy, if unsuccessful, the unpaid balance will become due and payable on demand as stated in the contract.

I am in the student loan program.  Does this mean that I am guaranteed continuous employment during the pay back period?
Acceptance of the student loan does not guarantee a permanent position with UMHC. If you resign or are terminated prior to satisfying the work commitment required, your loan balance must be reimbursed to UMHC on a pro-rate basis from date of taxation.  

Do I pay income taxes on any reduction in the amount I owe because I work for UMHC after graduation?
The sums credited to your loan because you work for UMHC after graduation will constitute income to you on which you must pay taxes.

The taxable benefit is based upon the total amount of the loan that is forgiven over the period of UMHC employment time, year to year, that is required to forgive the loan.

Accordingly, the Employer will withhold the appropriate taxes for each pay period while employed with the Employer.

Example: 

$4,000/year = 12 months of service unless otherwise stated in the contract

• 12 months = 26 pay periods
• 18 months = 39 pay periods
• 24 months = 52 pay periods

$4,000 - 26 pay periods = $153.85 taxable income
This is the amount added to the gross income per pay period. 
**This is not the actual amount deducted, rather amount that is taxed **

Can I mail any information or do I have to bring it in?
An appointment with the Office of Nurse Recruitment is required. ALL required documents must be received at time of the interview. See student checklist (.pdf)   We are unable to accept incomplete applications.

What should I expect during the interview process?
You will meet with members of the HCPSL selection committee.  This is a professional panel interview.  Please dress and prepare accordingly.