Accelerated BSN and Signing Contracts - Too Early?

[KristinWW]

Our class has been commiserating about how we are all going into debt this year as we will be unable to work while in school, as the accelerated program is so demanding. Our dean is offering advice to go to the hospitals now to see about contracts for tuition reimbursement if we agree to work for them for two years, etc.

Isn't it way too early to do this??? We don't even begin the program until next month - which recruiter in his/her right mind would entertain a request to sign a contract now??? Why have we been advised to do this NOW???

Anyone else out there in an accelerated program? How soon did you begin contacting hospitals? Thank you!

[KristinWW]

Thanks for all the great replies! But I wonder, how soon can we sign and are there any that will pay for school WHILE you are in school? It's wonderful to pay reimbursement once you have completed the program but I have to pay tuition NOW.

[Hellllllo Nurse, BSN, RN]

I personally would avoid contracts until it's absolutely necessary. There have been posts where people have said they've regreted signing on for a two year (or whatever) commitment. Mostly because they discovered they didn't like the employer, working conditions, salary, etc.

It's probably a better option for those who've already worked for the employer (as LPN's, CNA's, etc.), and know what they're getting into. But if you don't, it's too risky IMHO. However, if there's no other way financially to swing it, then it's probably worth the risk. But that's the only reason I would do it.

I agree. I would only consider this if you are already very familiar with a facility, and know you want to work there, and you have no other alternative financially. I have known a few people who have done this and are desperate to get out of their contracts.

I, myself, forfeited a sign-on bonus and relocation assistance money when I ended up at a horrible hospital.

Yes, if you break the contract, you will have to return the money. However, the interest rate and terms of the loan may not be nearly as good as those of a student loan. Plus, you will be risking not getting a good reference and burning your bridges with any facility that particular company owns.

For example- I know a nurse who paid back a sign on bonus to leave a hospital. He then wanted to go to work at an outpatient cancer center he'd heard great things about. But- turns out the cancer center is owned by the same corporation who owns the hospital. Now, he can't get a job at the cancer center.

Many hospital corporations own several outpatient clinics and nursing facilites in the same town. Although, they may not advertise this fact, as they do not want to appear to have a monopoly in their area. Also, many health-care corporations want to give the appearance of a facility being a local interest, when in reality they are owned by a huge corporation.

For example, I went to work for a small dialysis facility that was named after the town I lived in. Only after starting, did I learn that the facility was owned by the largest dialysis company in the world- a fact they did not want their pts to know.

Your freedom to work where you want and freedom to stay at or leave a job, as you choose, are not worth any amount of $$, IMO.

[Hellllllo Nurse, BSN, RN]

I personally would avoid contracts until it's absolutely necessary. There have been posts where people have said they've regreted signing on for a two year (or whatever) commitment. Mostly because they discovered they didn't like the employer, working conditions, salary, etc.

It's probably a better option for those who've already worked for the employer (as LPN's, CNA's, etc.), and know what they're getting into. But if you don't, it's too risky IMHO. However, if there's no other way financially to swing it, then it's probably worth the risk. But that's the only reason I would do it.

I agree. I would only consider this if you are already very familiar with a facility, and know you want to work there, and you have no other alternative financially. I have known a few people who have done this and are desperate to get out of their contracts.

I, myself, forfeited a sign-on bonus and relocation assistance money when I ended up at a horrible hospital.

Yes, if you break the contract, you will have to return the money. However, the interest rate and terms of the loan may not be nearly as good as those of a student loan. Plus, you will be risking not getting a good reference and burning your bridges with any facility that particular company owns.

For example- I know a nurse who paid back a sign on bonus to leave a hospital. He then wanted to go to work at an outpatient cancer center he'd heard great things about. But- turns out the cancer center is owned by the same corporation who owns the hospital. Now, he can't get a job at the cancer center.

Many hospital corporations own several outpatient clinics and nursing facilites in the same town. Although, they may not advertise this fact, as they do not want to appear to have a monopoly in their area. Also, many health-care corporations want to give the appearance of a facility being a local interest, when in reality they are owned by a huge corporation.

For example, I went to work for a small dialysis facility that was named after the town I lived in. Only after starting, did I learn that the facility was owned by the largest dialysis company in the world- a fact they did not want their pts to know.

Your freedom to work where you want and freedom to stay at or leave a job, as you choose, are not worth any amount of $$, IMO.

[Sheri257]

For example- I know a nurse who paid back a sign on bonus to leave a hospital. He then wanted to go to work at an outpatient cancer center he'd heard great things about. But- turns out the cancer center is owned by the same corporation who owns the hospital. Now, he can't get a job at the cancer center.

Ah, so they keep a blacklist of sorts? Just because he opted out of the contract? Figures. Doesn't surprize me in the least.

Same set up in my town. Lots of the outpatient clinics, etc. are owned by the same corporations under different names. The only good news is that I have lots of other options if I'm willing to commute.

Nevertheless, I'll certainly be doing my homework on corporate ownership when the time comes. Seems like one burned bridge, intended or not, can cut off many destinations.

[Sheri257]

For example- I know a nurse who paid back a sign on bonus to leave a hospital. He then wanted to go to work at an outpatient cancer center he'd heard great things about. But- turns out the cancer center is owned by the same corporation who owns the hospital. Now, he can't get a job at the cancer center.

Ah, so they keep a blacklist of sorts? Just because he opted out of the contract? Figures. Doesn't surprize me in the least.

Same set up in my town. Lots of the outpatient clinics, etc. are owned by the same corporations under different names. The only good news is that I have lots of other options if I'm willing to commute.

Nevertheless, I'll certainly be doing my homework on corporate ownership when the time comes. Seems like one burned bridge, intended or not, can cut off many destinations.

[colleen10]

Hi there,

Some of my classmates and I were talking about this topic a few weeks ago.

One of our local hospitals that we did a rotation at offered a sign on bonus for RN's and current nursing students. It was a $10,000 sign on bonus for I believe a 3 year committment. It was available for RN's who could start working immediately and also current nursing students that would go to work for them upon graduation in the next 1-2 years. The money was given at the time of signing the committment. So, if you were a student and signed up you would get the $10,000.00 today which you could use for tuition, books, uniforms, living expenses, whatever you wanted.

One of my classmates was seriously considering doing this but decided not to. 3 years is a long time. What if you decide upon graduation that there is one particular area that you want to work in, but it's not available at the hospital that you signed your committment with? What if you decide to move to another city or that you don't like the people that you work with, or that your orientation is not as good as you would like?

I have worked at enough places (not medical related) where I had to do whatever I was told and had few career options. One of the reasons that nursing is so interesting to me is that there are a ton of career options, I don't want to be tied down. I want to have the option to work in an area that really interests me, on a shift that works for me and at a facility or with people that I like and provide a supportive environment for a brand new nurse.

I think if you are considering taking a sign on bonus talk with the nurses there and those have allready signed such a contract. One thing that my instructor told me though, is that different floors can be like night and day. Just because you happen to do your clinical on a particular floor with really great nurses that love students doesn't mean that the floor directly above is the same way, and vice versa.

I think one of the really good pieces of advice I got on this topic from this board was from a nurse who said if you sign one of those contracts, take the check and put it in the cookie jar, above the refridgerator or in a safety deposit box. Don't cash it until you have worked at the facility a while and know that you definately want to stay there before you cash it in.

[SCmomof3, RN]

I think one of the really good pieces of advice I got on this topic from this board was from a nurse who said if you sign one of those contracts, take the check and put it in the cookie jar, above the refridgerator or in a safety deposit box. Don't cash it until you have worked at the facility a while and know that you definately want to stay there before you cash it in.

Good advice, but just remember that most checks are only good for 90 days. Cashing it into a savings account would be a better bet :nod:

This thread has really made me think. Thanks for all the replies!

[jemommyRN]

There is an accelerated program where I am that i was thinking about enrolling. I even applied and got an interview (that reminds me, I have to call and cancel my interview). The catch is that a certain hospital will provide you with a 7500.00 stipend. (the program is ten months). You have to commit to working for this facility for 2 years. (still not too bad). But its all a set up. Before you enter the program, they tell you that you can work in any unit that they'll have openings in at the time of graduation (I wanted to work in the ICU) however, the accelerated program ONLY does clinical rotations in Med/Surg and when you get out (you're committed to this hospital and you have to work in Med/Surg because (1) your not qualified to go to any other unit and (2) they have openings in Med/Surg.) the whole purpose of the program (it is sponsored by this particular Hospital) is to bring in Med/Surg nurses. I only found this out through someone who is in the program. Otherwise, I would have been making the same mistake. They also say that "buying out" is not an option.

[Kena222]

:) I will be entering an accelerated bsn program in March of 2005. I wanted to get started with my funding as soon as possible. I know that I'm not going to be able to work, but how in the world am I just going to live off of a loan? How are you surviving now? Do you have to pay rent, groceries, bills. Do you know of anyone in your class that found another altenative to fund their schooling?