Hospital Service Scholarships

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Specializes in Med-Surg.

Hi -- I've been offered a service scholarship from a hospital and wondered if I could compare notes with others who have accepted these kinds of scholarships. They will give me $3300 each year of the two year ADN program to cover books, tuition, and fees (This will cover all my tuition and fees, but I will carry part of the book balance myself). In return, I must work for them for 4 years after graduation. I am not meeting with her until next week so am unsure what the buy-out option entails, but would like to know what the buy-out options of other plans is like so I know how this one stacks up. So... do they pro-rate yours if you have to pay it back? What's the interest rate? Any other info?

Thanks!

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I am so glad that you started this thread. I am currently applying to a hospital scholarship program. I am also interested in what others think about these programs. I would also like to know about any experiences that others have had with these programs.

Thanks

Janine

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Specializes in Telemetry, Stepdown.

I've never used one of those before, but make sure you check out the hospital and ask some people that are employees there about the working conditions of the hospital before signing anything. Good luck to you!

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Specializes in Med-Surg, Psych.

I just interviewed for a hospital-based scholarship/ work program this week. I have worked at the facility before and it has an excellent reputation. I only need to work one year for each year of tuition ($2400.) I know they offer a pay-back option, but we did not discuss it during my interview. Since I have a 10-year positive work history with them, I was comfortable with that.

Be sure to ask about it during your interview.

Good luck and please keep your fingers crossed for me!

Michelle

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I did this with my hospital.. The way they did it was for every $100 I spend, I owed them 1 month of work... If i wanted to work somewhere else once I graduated the other hospital could buy out this contract and then it would change over to the new facilty... However if I ever leave this hospital before it is paid off, then they said they would set up a payment plan for the rest.... It was a good deal for me and I didn't have to worry about money for school, I figured if I wanted to go somewhere else, I was at least making money so I could afford to pay it back :)lol

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I am working at a large research hospital here in Ohio (university hospital), and they offer $9000 if you commit 2 years afterwards. Well, with my working and there, and knowing I want to work there after I get my RN, I took it. Cause, the rest of my schooling is paid for. And the 2 years that I will be working there afterwards, I am planning on getting my MSN, so I will need the job anyway. And because the facility is VERY huge, I know that if I get bored or tired in one area, that have plenty in other areas. So I guess it depends on how you look at it, and what your plans are afterwards. Overall though, I think majority of them are pretty good.....Just my two cents worth. :) :)

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Specializes in Telemetry, Oncology, Progressive Care.

Another thing to consider is your salary. Are they going to pay you less than a new grad who did not get the scholarship? Hope it works out for you.

Kelly

ETA: I think that having to stick around for 4 years is a bit much when they are only offering to pay for 2 years. Now, if they were paying for 4 years of school that's a whole nother story.

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Specializes in OB, House Sup, ER, Med Surg.

I am doing this. The hospital is paying me $5000 per year for tuition and expenses for a 2 yr ADN program. I have to work for them for 2 years when I am done with school. There is a buy-out option. Also, since it is set up as a loan that will be forgiven by working there, it doesn't affect my federal financial aid.

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I am doing this. The hospital is paying me $5000 per year for tuition and expenses for a 2 yr ADN program. I have to work for them for 2 years when I am done with school. There is a buy-out option. Also, since it is set up as a loan that will be forgiven by working there, it doesn't affect my federal financial aid.
So you can still get Pell grants and Stafford loans? I thought about looking into a hospital scolarship but I was afraid if they gave me any money financial aid would deny me money. I read somewhere that students that qualify for financial aid should be careful about getting scolarships because you may get say $500 from your scolarship but financial aid may then deny you $1000 dollars you could have received. I'll have to look into the local hopitals and see what they have. I really need some money for school.
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Specializes in Telemetry, Stepdown.
ETA: I think that having to stick around for 4 years is a bit much when they are only offering to pay for 2 years. Now, if they were paying for 4 years of school that's a whole nother story.

I agree that 4yrs is too much.

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Specializes in Med-Surg.

ETA: I think that having to stick around for 4 years is a bit much when they are only offering to pay for 2 years. Now, if they were paying for 4 years of school that's a whole nother story.

I hear you. Everything I've read to date says that other hospitals are asking for 2 years of employment for 2 years of school. And yes, they're only paying for 2 years (with a cap, so they're not even paying for it in full) and in return they want 4 years of employment...

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I interviewed with a hospital this week for a two year scholarship (8,000) in exchange for 2 years with them after graduation. I was wondering if they just pay your tuition and books or do they give you the balance for living expenses too?

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