CONE HEALTH
ACADEMIC SCHOLARSHIP
LOAN PROGRAM GUIDELINES
Academic Scholarship Loans are available to Cone Health employees and others who are approved to attend various
accredited allied health and nursing programs in fields that are needed to provide long-term quality patient care. The
academic scholarship loans vary in the amount of money loaned, depending upon the cost and length of the academic
program. The recipient will agree to repay the loan if he or she fails to fulfill the obligations stipulated below.
Otherwise, the scholarship loan shall be forgiven, granted the employee returns to work full-time in the position
studied for a required specified time period. The number of scholarship loans granted each year may vary depending
upon need and the number of applicants.
ELIGIBILITY:
1. Accepted into a course of study leading to certification/licensure in an approved allied health or nursing field
supported by the Academic Scholarship Loan Program. For some fields, the academic scholarship loan will only
pay for graduate level courses.
2. Acceptable Grade Point Average (GPA) from most recent educational program.
3. Acceptable performance with current employer (no active corrective action).
4. Acceptable performance rating (if Cone Health employee).
5. Meet hiring standards for drug screen and criminal background check.
6. Proof of authorization to work in the U.S.
7. Ensure receipt of a minimum of 2 completed “Program Reference Forms” from current supervisor, previous
supervisor, and/or clinical instructor.
GENERAL PROVISIONS:
 Cone Health will make a scholarship loan available to a student in a predetermined amount that may be used for
expenses such as tuition, fees and books, or the student’s living expenses. The Academic Scholarship Loan Program
is not intended to cover all living expenses for the student during the course of study, but should help the student
pursue educational opportunities for advancement.
 Recipients must pay taxes on the amount of money that is forgiven. The amount due in taxes will be spread across
26 pay periods and will commence upon employment in the role in which the scholarship was dispersed for.
Forgiveness would indicate that I have fulfilled my work obligation.
 The Academic Scholarship Loan Program will be reviewed annually and scholarship loans for various positions
may be added or deleted based upon the organizational need. Recommendations for additions must be
supported by and be approved by the Chief HR Officer and/or the Chief Nursing Officer Resources and Chief
Operating Officer.
 The Chief HR Officer and Chief Nursing Officer, in the best interest of Cone Health, may waive the above eligibility
criteria.
 Recipients are not in any way guaranteed a position upon completion of the educational program. Every effort
will be made, however, as long as the recipient meets Cone Health hiring standards. Upon graduation,
scholarship recipients may be required to interview for and work in an area of need. If Cone Health does not
have a position available, the scholarship will be forgiven.
 Recipients may be given the given the opportunity to extend their gradation date for one additional year before
being considered as a breach of agreement.
 Recipients will be required to initiate the necessary steps to obtain authorization to take licensure/certification
exam within 30 days of graduation, and will schedule the exam within 30 days of obtaining authorization.
 Recipients will be required to take any appropriate licensing/certification exam and, if not successful, may re-take
the exam 2 times. Recipients will be required to pay-back if not licensed to practice after a total of 3 attempts at
taking the licensure/certification exam.
Guidelines & Application 5-2016

In consideration for the scholarship amount, recipients will agree to a service obligation as a full-time employee
in their respective field of study for a period of two years.
 Academic Scholarship Loan Program recipients may be excluded from the hiring bonus program.
 The service commitment will commence upon date of employment in a position directly related to field of study.
 The academic scholarship loan will be available to the student each semester as a lump sum payment.
SELECTION: Selection of program recipients will be based on academic achievement, prior experience, references and
personal interviews. Program interviews will be held in March and December of each year.
RECIPIENT OBLIGATIONS:
 Provide copy of course grades after each semester. May be requested to provide a letter of reference from the
school stating the student’s academic standing.
 Maintain a grade point average of at least a 3.0 each semester.
 Provide documentation of “good standing” in positions of employment.
 Complete educational program within agreed upon timeframe.
 Provide documentation of successful educational program completion.
 Obtain certification/licensure in field of study (may sit for licensure/certification exam a maximum of three
times).
 Fulfill service obligation upon completing educational program; one year of full-time service for each year
scholarship loan money is received.
 The service agreement will commence upon the date of employment in the professional field of training.
DEFAULT:
In the event that one of the above criteria is not met, Cone Health reserves the right to take any legal means necessary,
including the pursuit of legal action in a court of law and/or institutions of collection. If your scholarship loan goes into
default status, you will be obligated to immediately pay Cone Health the scholarship loan amount in full, plus a 9%
interest penalty upon notification of default.
Failure to repay as indicated will result in your account being turned over to the hospital’s attorney for further action,
which may include an official court judgment against you and a lien filed against your personal or real property. The
information may be listed on your credit report as an outstanding debt/judgment to Cone Health.
APPLICATION PROCESS:
 Applications are available on Cone Health’s website at www.conehealth.com.
Complete application and submit electronically to [email protected]
 Candidate must send Academic Scholarship Loan “Program Reference Form” electronically to
 The Academic Scholarship Loan Committee (comprised of the Manager, Nurse Outreach and Retention,
Department Directors, and other individuals as indicated) will review the application and either approve or deny
the scholarship loan based upon the criteria described above.
 Candidates will be required to interview with program manager and a panel comprised of leaders in area of
specialty.
 After the application is received and approved, the employee will sign an Academic Scholarship Loan Agreement.
CONTACT FOR ADDITIONAL INFORMATION: [email protected]
Guidelines & Application 5-2016
Academic Scholarship Loan
Program Application
Thank you for your interest in the Cone Health Academic Scholarship Loan Program! These loans
are available to Cone Health employees and others who are approved to attend various
accredited allied health and nursing programs in fields that are needed to provide long-term
quality patient care. Please complete this application in its entirety and submit electronically to
[email protected].
Full Name: Click here to enter text.
Local Street Address: Click here to enter text.
Local City, State, and Zip Code: Click here to enter text.
Permanent Street Address: Click here to enter text.
Permanent City, State, and Zip Code: Click here to enter text.
Preferred Phone #: Click here to enter text.
Email (local): Click here to enter text.
Alternate Phone #: Click here to enter text.
Email (permanent): Click here to enter text.
Current MCHS Employee: ☐yes ☐ no
If Yes: Job Title & Department Click here to enter text.
Previous MCHS employee: ☐yes ☐ no
If Yes: Job Title & Department Click here to enter text.
Eligible Healthcare Program – availability subject to change
☐ Nursing (Registered Nurse)
☐ Anesthesiology (CRNA) – internal only
☐ Physical Therapist
☐ Occupational Therapist
☐ Clinical Pharmacist
☐ Surgical Technologist – internal only
Program Information
School Name: Click here to enter text.
Degree to be awarded: Click here to enter text.
Date accepted into program: Click here to enter a date.
Start Date (or expected start date): Click here to enter a date.
Expected Graduation Date: Month: Choose an item. Year: Choose an item.
Additional Application Requirements
1. Resume - copy and paste into next page of this document.
2. Essay - What influenced you to pursue this career path and how will the Cone Health Academic Scholarship Loan
Program help you meet your goals.
3. Program Reference Form – Provide a minimum of 2 references by typing your name on the “Academic
Scholarship Loan Program Reference Form” and send electronically to those individuals whom you want to
provide reference for you. Recommendations should be solicited from a current Supervisor, previous Supervisor,
or clinical Instructor and be sent directly to [email protected]
Guidelines & Application 5-2016
Required Documents
1. Letter of acceptance letter from accredited educational program (may send electronically)
2. Official transcript reflecting an acceptable GPA from most recent educational program (may send electronically)
3. Current Cone Health Employees - provide a copy of your most recent performance appraisal
Resume (copy and paste here or attach)
Essay What influenced you to pursue this career path and how will the Cone Health Academic Scholarship Loan
Program help you meet your goals?
I have read the Academic Scholarship agreement and understand that these funds are considered advanced wages
and I will be required to sign an agreement, which outlines the conditions for forgiveness or repayment as applicable.
I further understand that to receive financial assistance, I must maintain at least a 3.0 GPA, documentation of
acceptable performance from current employer (no active corrective action). The participating school, with
permission, is to submit a copy of my grade summary each semester. I verify that the above information is correct,
accurate and complete to the best of my knowledge. I agree to provide documentation or authorized to work in the
United States, and understand that I must meet Cone Health hiring standards for drug screen and criminal
background check. I hereby release employers, schools or persons from all liability in responding to inquiries in
connection with my scholarship application.
Student’s Signature: Click here to enter text.
Date: Click here to enter a date.
Cone Health AN EQUAL OPPORTUNITY EMPLOYER
[email protected]
Guidelines & Application 5-2016
CONE HEALTH
ACADEMIC SCHOLARSHIP
SAMPLE LOAN PROGRAM AGREEMENT
This Agreement is made and entered into on ____________, by and between, _________ and Cone Health.
GENERAL PROVISIONS
1.
________
I have provided documentation that I am enrolled in an academic program leading to licensure to practice as a
Registered Nurse with Cone Health.
2.
_______
Cone Health agrees to make an academic scholarship available to the above named student in the amount of
____Amount____ semester to attend _____Name___________ for a degree as a __degree__________
with an expected graduation date of Date.
3.
________
I agree to enroll in an accredited BSN program upon graduation; and complete within 4 years of enrollment
(for Associate Degree Nursing Students Only)
4.
_______
I agree to provide verification of GPA (via transcript) to the program manager at the end of each semester that
I receive financial support. If I fail to maintain a GPA of at least 3.0 for the semester, Cone Health reserves
the option to terminate this Agreement, and make arrangements for repayment of any amounts received
pursuant to this Agreement.
5.
_______
It is my responsibility to meet the scholarship loan eligibility criteria on an ongoing basis. In addition, I will
advise the program manager if my semester GPA should fall below a 3.0, and will communicate any changes
in my contact information.
6.
_______
I agree to initiate the necessary steps to obtain authorization to take any licensure/certification exam within 30
days of graduation, and will schedule the exam within 30 days of obtaining authorization.
7.
________
I agree to take any appropriate licensing/certification exam and, should I fail, I agree to continue to take the
exam for a period of up to three times.
8.
_______
In consideration for the scholarship amount, I agree to a service obligation as a full-time RN for a period of two
years. The service commitment will commence upon date of employment as an RN. Such employment will
begin within 30 days of licensure.
9.
________
It is understood by both parties that the service obligation will be computed utilizing only time actually worked,
including paid benefit time, but any leave of absence will not be considered in computing the service
requirement.
10.
________
I understand that if it becomes necessary to extend my graduation date beyond the expected date referenced
in item #2 above, I may be given the opportunity to do so for one additional year before being considered as a
breach of agreement.
11.
_______
I agree that failure to fulfill my service obligation as a RN for two years is in default of this agreement and all
penalties and costs described will apply.
12.
_______
Any of the following will be considered as a breach of this Agreement and will necessitate me repaying any
amounts received during the term of this Agreement:

GPA of less than 3.0 per semester

Failure to complete the educational program for which the scholarship was disbursed

Failure to take a certification/licensure examination or failure to pass a certification/licensure
examination after three attempts

Failure to complete the employment application process

Failure to complete the required period of full-time service obligation of one year to Cone Health for
each year of financial support

Failure to receive job offer
Guidelines & Application 5-2016
13.
_______
I understand that Cone Health does not in any way guarantee me a position upon completion of the educational
program. Every effort will be made, however, as long as I meet Cone Health hiring standards. Upon graduation,
scholarship recipients may be required to interview for and work in an area of need. If Cone Health does not
have a position available, the scholarship will be forgiven.
14.
_______
I acknowledge that should I default on this Agreement, Cone Health reserves the right to enforce this Agreement
by any legal means necessary, including the pursuit of legal action in a court of law and/or institutions of
collection upon this obligation. If I default on this Agreement, I will be obligated to immediately pay Cone Health
the loan amount in full, plus a nine percent (9%) interest penalty upon notification of default.
15.
________
I agree that failure to fulfill my service obligation in full will constitute default under this agreement and the full
amount of the loan, plus interest, will be immediately due and payable.
16.
______
Failure to repay as indicated will result in your account being turned over to the hospital’s attorney for further
action, which may include an official court judgment against you and a lien filed against your personal or real
property. The information may be listed on your credit report as an outstanding debt/judgment to Cone Health.
17.
_______
I understand that I must pay taxes on the amount of money that is forgiven. The amount due in taxes will be
spread across 26 pay periods and will commence upon employment in the role in which the scholarship was
dispersed for. Forgiveness would indicate that I have fulfilled my work obligation.
18.
_______
This Agreement shall be construed and all of the rights, powers and liabilities of the parties hereunder shall be
determined in accordance with the laws of the State of North Carolina. This Agreement contains the whole
understanding of the parties and supersedes all prior oral and written representations and statements between
the parties with respect to the Academic Scholarship Loan Program
19.
_______
I have read each item of this agreement and initialed each item confirming my understanding of this
agreement.
I understand that I may be denied scholarship loan monies and/or employment, if I give false or misleading information or
omit information on my application or during the interview process.
Any modification of this Agreement must be approved by both parties and be executed in writing.
IN WITNESS WHEREOF the parties have caused this Agreement to be duly executed on the day and year above written.
______________________________________________
Employee Signature / Date
Guidelines & Application 5-2016
____________________________________________
Program Signature (witness) / Date