Accelerated nursing programs-- will hospital pay back student loans from undergrad?

Nurses Career Support

Published

I am about to finish a bachelors degree in sociology/psychology. I have also gathered a ton of student debt doing so. I am very interested in become a nurse, I have shadowed a bunch, and I loved it. My question is, if I were to get a BSN in nursing, and was ever offered tuition repayment by a hospital, would they only covered the loans used to complete the accelerated nursing program? Or would it go towards my overall debt? I am scared to get more debt at this point, but I have heard of a lot of loan forgiveness programs such as the nursecorps, or working overseas, ect.

Thanks!

Up Vote Up Vote ×
Specializes in Critical Care, Education.

There really is no standardized approach to employee benefits - including loan repayment. You would need to contact individual employers to determine specifics. However, I urge you to proceed with caution. In comparison to other industries, providing health care is a low-margin (profit) business. Please note, I'm not referring to pharmaceutical or insurance companies... just those that actually provide care. Hospitals are continuing to close due to decreasing revenue.

Overall, Employee benefits in healthcare are not very generous. It's not unusual for tuition benefits to be capped at $2k or less per year and it is usually a concurrent program to cover tuition as it occurs rather than retro-active to cover past education. Student loan repayment is not very common. Bottom line? Don't base your future plans on the "possibilities" of loan repayment via employee benefits.

Up Vote Up Vote ×
Specializes in 15 years in ICU, 22 years in PACU.

Student loan repayment does seem to be a dying benefit. At my University affiliated hospital, after 6 months of employment they reimburse cost of in-state tuition leading to healthcare related degree.

There is also a "competitive program that repays 60 percent of the qualifying nursing educational loan balance of registered nurses selected for funding in exchange for two years of service at a disproportionate share facility" but that sounds scary.

IOW Don't count on it.

Up Vote Up Vote ×
Specializes in Critical Care.

At one time our hospital offered a $12,000 student loan reimbursement for a 2 year contract, but that is no longer the case. There is no longer a shortage and even tuition reimbursement for current employees has been cut from $4,000 a year at its peak to only $2,000. So I wouldn't count on it! Hospitals are cutting benefits and running lean these days, except for the CEO's who make millions these days!

Up Vote Up Vote ×
Specializes in ER, Med-surg.

Every hospital is different, many no longer offer tuition reimbursement at all, or if they do it's limited and only for current employees seeking degrees specific to their career at the hospital (so, say, $1K/semester for nursing school for a current tech, or similar). Several years ago, I worked at a hospital which offered significant scholarships in exchange for contracts to work there after graduation (so also preferential hiring!) but again, that was only for current students and only for their current program of study.

I have not heard of any civilian employers who will reimburse existing student loans. The military will do so, as well as potentially pay for nursing school, depending on the route taken to enlisting. I believe there are also non-military federal agencies that will do so, but all of these incur significant service obligations after graduation.

Up Vote Up Vote ×
Specializes in Case mgmt., rehab, (CRRN), LTC & psych.

In this day and age, healthcare facilities do not need to offer tuition reimbursement perks to attract and retain nurses. There's a persistent glut of nurses in many employment markets; therefore, more nurses than ever will accept jobs with no questions asked.

However, employees with crushing student loan debt burdens are attractive prospects since some managers assume they desperately need their jobs.

Up Vote Up Vote ×
Specializes in 15 years in ICU, 22 years in PACU.
In this day and age, healthcare facilities do not need to offer tuition reimbursement perks to attract and retain nurses. There's a persistent glut of nurses in many employment markets; therefore, more nurses than ever will accept jobs with no questions asked.

However, employees with crushing student loan debt burdens are attractive prospects since some managers assume they desperately need their jobs.

Commuter, you would make one shrewd nursing manager or staffing coordinator. Who do you call for those extra shifts? I'd be one to let that call go to voice mail!

Up Vote Up Vote ×
Specializes in Case mgmt., rehab, (CRRN), LTC & psych.
Who do you call for those extra shifts?
My coworker, who happens to have a heavy student loan debt burden, is the first one begging for extra shifts. She also becomes upset when it's time to cancel her shift in times of low census.
Up Vote Up Vote ×
Specializes in Pedi.

Tuition reimbursement is for classes you take to further your education WHILE you are employed. A prospective employer is not going to pay you back for a degree you already obtained.

Up Vote Up Vote ×

Not anywhere I've ever worked (in 30 yrs, in five states). Many hospitals will offer, as part of the overall benefits package, some level of tuition reimbursement for courses you take while you're working for the hospital (although the number of hospitals doing that has shrunk significantly during the recession), but I've never heard of a hospital that would help pay off someone's existing loans.

Up Vote Up Vote ×
+ Add a Comment