[shock-me-sane]

I have recently been considering signing a contract with a hospital to help with the cost of living, school etc. I really don't want to be committed to working at a specific place after graduation to "pay off" the money they will give me, but it may be necessary.

has anyone else done this and how has it worked for you?

[KatieBell]

Like you, I didn't like the idea of being committed to one institution. I found a loan in my state that allowed me to work at any JACHO certified institution full time within the state one year, for each year of loan I got. It was a good deal. I know a few states have it, but they don't generally advertise it a lot.
A few of my friends did agree to a contract agreement. Some found they were "in line" for the "good jobs", others found later they didn't like the hospital, so it became difficult for them, so I suppose it is a mixed bag, investigate carefully before you sign!! and good luck!