The New Jersey Pay It Forward Program announced on September 30 that it is extending its financial support to Rowan College at Burlington County nursing students.
The program, launched in 2022 as a partnership between the state, the N.J. CEO Council, and the national nonprofit Social Finance, is a first-in-the-nation workforce fund that prepares N.J. residents for in-demand job sectors like health care, clean energy, and IT. Eligible students will receive zero-interest, no-fee loans with no upfront costs as they acquire high-quality education and training at colleges in the state.
RCBC nursing students Caitlin and Michaela Goos, twin sisters, are two recipients of the aid. Both are passionate about nursing, and the program will help them reach patients who need the utmost care and attention.
“I’m saving money this way,” Caitlin said. “So I don’t have to work so much and worry about paying extra for interest, and I can just focus on my schoolwork.”
“I picked nursing because, like Caitlin, I really love helping people,” Michaela said. “I love teaching people new things, too, teaching ways to improve certain areas. And I feel the combination of that and helping people make their day. This program will help encourage us to continue in the nursing program and not be set off from worrying about costs or anything like that.”
Once students complete their training, they will repay the loans through monthly payments of 10% of their discretionary income for up to five years if they earn above a minimum salary. They will pay nothing if they do not earn more than a minimum salary.
In addition, students have access to living stipends and supportive services like mental health counseling to promote their success. Participants will not have to pay back the cost of these living stipends and supportive services.
“Students should not have to mortgage their future to pay for their education. The New Jersey Pay It Forward Program helps students to pay for the upfront costs of college while they train for an in-demand job,” said RCBC President Dr. Michael A. Cioce, whose higher education career began in Financial Aid. “I’m grateful for the partnership between the New Jersey Pay It Forward Program and Rowan College at Burlington County, and to RCBC’s Health Sciences Dean, Dr. Karen Montalto, and our Financial Aid team for all their hard work to make this option available to our students.”
