Gila Regional Medical Center Educational Financial Assistance Program

GRMC's Financial Assistance Program was established to assist GRMC employees with professional education in Health Care fields. Annually, Administration will review staffing needs of the hospital (present or future) and determine which Health Care fields "qualify" for assistance under the Financial Assistance Program.

1. Eligibility will be open to persons who are currently employed at GRMC. Individuals must either be a full-time, part-time, and/or PRN capacity.
2. The amount of money available for financial assistance may not exceed $5,000.
3. The amount of money to be loaned to an individual student may be subject to change and will be exclusively the decision of administration.
4. All money available in the Financial Assistance Program is subject to change at any time.
5. Students who receive money under this program are expected to:

• Complete a Financial Assistance Agreement prior to dispersal of funds.
• Maintain at least "C" average in the program and present a copy of his/her grades at the end of each semester or grading period. Grades are to be submitted to Human Resources Office.
• Accept full-time or part-time (min. 20 hrs. per week or 40 hrs. biweekly) employment in her/her new field at GRMC following completion of the program.
• The person having been granted financial assistance will be considered for employment at the same time as other applicants. (The best applicant for the position will be selected.)
• If the applicant is successful, the funds will be repaid at the rate of one year of
  full-time equivalent employment for each $2,500 granted. This forgiveness of debt will be considered as taxable income for the year(s) in which the debt is forgiven.
• If the applicant is not successful, the loan must be repaid.
• Failure to complete the work agreement or failure to complete the program will necessitate the student repaying the balance of the Loan in a lump sum amount. In some circumstances, arrangements may be made for making payment. In either case, failure to repay the loan may result in appropriate legal action.

4. A completed application is submitted to the Human Resources Office and will be reviewed by the Joint Financial Assistance Committee. A letter of acceptance into the program or a copy of the program registration must be attached to the application.
5. Funds are dispersed directly to the successful applicant. The applicant may receive money by semester, at selected intervals, or in a lump sum (to be determined by Administration). Total amount dispersed to each applicant shall not exceed the maximum of $5,000 or the amount granted to the individual.
6. Prior to any further money dispersal, the student is expected to maintain at least a "C" average and a copy of his/her grades must be sent to the Human Resources Office at the end of each grading period.