Dragging out program for tuition reimbursement?

To ME, the KEY factor to consider is the reality check to ask yourself - 'what are the long range chances that you will remain with your current tuition-reimbursing employer for the duration of your educational financial needs?'.

If you terminate, there could be a delay in securing your next job. Also that one may not provide tuition benefits or have different strings attached.

Your long range plans re time and money are then moot. Seriously, can you put all your eggs in that one basket that banks on your continued employment?

Remember also that your employer might change that tuition benefit at any time.

Are you OK with that risk? It would make me want to take advantage of the tuition bene ASAP.

Thanks for the response! I actually just started with my company in the fall and plan to stay for several years, maybe the rest of my career. This company focuses on my specialty area, which is why I left the hospital. It was really the place to go if I wanted to grow in my specialty. There are facilities all over the country and they really do advance nurses up the ranks. So there's not much reason to leave unless I get headhunted, which is unlikely at my level. There is another company I could have looked into but former hospital coworkers that have worked for both said my choice was the best one. So in that regard, I'm good but this is why I felt 4 years would be too long. I might want a different position by then. Learning a new job and finishing school sounds like a nightmare.

I suppose anyone using tuition reimbursement is at risk of the employer discontinuing the program. I find it extremely unlikely they would (they would probably discontinue things like the scholarships for our kids and grandkids first) but anything could happen. If that risk were my deciding factor, I would have never gone back to school for my RN or BSN. I can't predict the future so I feel that's something not worth worrying about. If down the road they discontinue, I can always stop classes if it's too out of my budget.

But I guess you somewhat helped me figure it out. I can't take classes any faster than one at a time and even if I could, it would be more out of pocket money. It would be the same costs if they discontinue the reimbursement. If I left before my obligation was over (I think it's 6 months after last reimbursement, I don't think it's the full amount, just whatever they paid in the 6 months), I'd just pay the money back. So I guess I have nothing to lose financially by taking an extra 6 months to complete the degree at the chance of more reimbursement.

The only other option would be not going back to school, which would be foolish. At the end of the day, $21k for a master's isn't outrageous IF I had to pay the full amount (but I know I won't as I'll at least get the money for this year.) I'm only 30 so it would be a good investment for my career and earning potential. If I were closer to retirement, it would be different.

So thanks for bringing up new points that helped me think things through!