Mount Teams With Torrance Memorial Medical Center to Combat Nurse Shortage
Aug. 22, 2007 -- Torrance Memorial Medical Center has awarded $360,000 in forgivable loans to nursing students at Mount Saint Mary’s University in an effort to attract quality nurse candidates and ease a staffing shortage. It is estimated than within the next two decades, more than half of California's nurses will retire, and there are not enough nurses in school today to fill their positions.
Fifteen Mount St. Mary's students will each be granted forgivable loans of $24,000. Four students will be selected from the College's traditional Bachelor of Science in Nursing Program and 11 from the Accelerated Bachelor of Science in Nursing Program. After they graduate, the Mount nurses will work for the medical center for two years. In exchange for this commitment, their loans will be forgiven.
"We are proud to be partners with Torrance Memorial Medical Center," said Mount St. Mary's President Jacqueline Powers Doud. "Their generous financial assistance to our students will enable Mount Saint Mary’s University to prepare more nurses in a time of great need in our community."
The College has similar agreements with Northridge Hospital Medical Center and Kaiser Permanente, which pioneered a program in 2005 to help nursing students pay off student loans in exchange for a guaranteed pool of nurses for its hospitals.