McLaren Flint Tuition/Loan Forgiveness program
McLaren Flint, Goodly
Registered Nurses; Respiratory Therapists; Pharmacists; Other technologists and technicians; Healthcare, general
Workforce Development Focus
Increasing number of healthcare workers AND healthcare workforce retention
Workforce Issue Addressed
Providing a benefit or incentive that encourages individuals to pursue a healthcare profession; Opportunity for educational reimbursement
McLaren Flint has a $1.5 million tuition payment / loan forgiveness program to provide student loan repayment benefits to more than 100 of its employees who work in high-demand healthcare occupations. The student loan benefit is applied like a 401(k) contribution. Goodly, a platform that helps companies make contributions to student loan debt, takes an amount from McLaren Flint to apply toward student loans every month. This is on top of the employee's student loan payment. A maximum of $15,000 of funding may be applied toward the employees' student loans for up to 3 years. The goals of the program are to retain current McLaren Flint employees by helping them pay off their education debt faster and attract new employees.