Tuition Loan Forgiveness Program (TLFP) for pharmacy students
To learn more about a career as a pharmacist with Aurora Pharmacy,
click here.
Eligibility
- Pharmacy students in their final year of pharmacy school
- The pharmacy student must represent that he/she has a current
intent to become employed by Aurora Pharmacy as a full-time pharmacy
intern or pharmacist within 60 days of graduation
- The student must successfully complete the employment
application process and be offered a position with Aurora Pharmacy
as a pharmacist
- Applicants are not guaranteed acceptance into the TLFP program
or employment with Aurora Pharmacy
Application process
To be considered an applicant for the TLFP program, all of the
following must be submitted:
- Signed and completed application including locations form
- Current resume
- Current transcripts
- Letter of recommendation from a pharmacy school instructor
(using the form provided by Aurora)
- Letter of recommendation from a supervisor in a paid or
volunteer job (using the form provided by Aurora)
- Interview with appropriate Aurora representative
Selection criteria/notification
TLFP candidates will be evaluated on the following attributes:
- Communication skills, verbal and written
- Customer service focus
- Employment history
- Geographic areas of interest (in correlation with Aurora
Pharmacy locations and needs)
After the January 15 deadline, the application committee will review
all applications. All candidates will receive written notification of
acceptance or regret by February 28. Accepted candidates will need to
schedule an appointment to sign the promissory note.
Tuition payments
Aurora will reimburse accepted students the said tuition amount.
Repayment of loan
For every complete pay period of employment as a full-time pharmacist
working for Aurora Pharmacy, 1/52nd of the outstanding loan (including
accrued interest that is due) will be forgiven. As such, at the end of
the 52 pay periods, the loan will be considered repaid in full.
Interest
The entire principal balance will bear interest at the prime rate as
announced by M&I Bank at loan inception. Interest will accrue on the
remaining balance beginning with the date the loan was issued.
Tax consideration
The loan forgiveness amount is subject to taxes. The tax incurred is
distributed over 52 pay periods. The taxes on the total will be based on
the participant's personal W4 form and IRS regulations. Federal, state,
FICA, and Medicare tax will be deducted.
Employment with Aurora Pharmacy
- A TLFP participant who becomes employed by Aurora Pharmacy will
be paid the usual wage and benefits for his/her position. The
participant's taxable income will be higher during the time the loan
is being repaid to the extent of the forgiveness.
- TLFP participants will be assigned to a specific pharmacy site.
While under the 2-year commitment, any interest to transfer
locations will be reviewed by the Director of Aurora Pharmacy; the
decision will be based on the current needs of Aurora Pharmacy
Conditions that lead to immediate repayment
The entire loan amount, plus accrued interest, becomes due and
payable to Aurora Pharmacy immediately should the participant fail to do
any of the following:
- Pass all parts of the pre-employment process including but not
limited to personal/employer referencing, an employment physical,
drug screen, Excluded Providers List (OIG) and criminal background
checks
- Commence full-time employment with Aurora Pharmacy within 60
days following graduation
- Continue full-time employment for 2 years
- Achieve Wisconsin pharmacist licensure within 6 months following
graduation (Interest will continue to accrue until the participant
gains licensure.
The details of the pharmacy student Tuition Loan Forgiveness Program
are subject to change.
For more information, click here.
To learn more about a career as a pharmacist with Aurora,
click here.
A better choice. A better career. A better
life.
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