Question about "loan forgivness"

  1. I'm a new student and I'm reading and hearing about "loan forgivness programs" or sometimes "tuition re-imbursment". I'm in So.Cal and it seems that this is fairly common. Does anyone have any experiance with this stuff? Are there caps on what they'll (the hospitals) typically will pay back? Once I graduate and get licensure will they pay to bridge up to a BSN? If anyone has any information I'd really appreciate it. It all seems a little too good for the truth.
    aloha
    Jim
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    About casualjim

    Joined: Feb '05; Posts: 196; Likes: 11
    EMT/BLS instructor

    3 Comments

  3. by   Nurse2B2005
    Quote from casualjim
    I'm a new student and I'm reading and hearing about "loan forgivness programs" or sometimes "tuition re-imbursment". I'm in So.Cal and it seems that this is fairly common. Does anyone have any experiance with this stuff? Are there caps on what they'll (the hospitals) typically will pay back? Once I graduate and get licensure will they pay to bridge up to a BSN? If anyone has any information I'd really appreciate it. It all seems a little too good for the truth.
    aloha
    Jim
    Aloha!
    I don't live in So. Cal, I live in No. Cal, but from what I am hearing from the hospitals during my job offers is that some will offer loan forgiveness and how it works is they pay a certain amount (up here it is anywhere from $2000-5000) per year that you work for them. Usually you have to apply for this after you have worked there for 6 months. A few hospitals also offer tuition reimbursement and the amount depends on the hospital. One offer I received was for $2000 a yr towards loan forgiveness up to $12K in your lifetime of employment and then tuition reimbursement for up to $12K as well towards your BSN or MSN. It seems to vary by facility, so ask around. Hope that helps!
  4. by   Candidnt
    I have found that things differ somewhat from place to place...I worked in places as either an aide or an LPN while moving on up...some places would reimburse you tuition at the end of your semester, provided you sent them a transcript and filled out the necessary paperwork, etc...others did the scholarship loan thing where you either worked for x amount of time, or you paid them back if you decided to not work for them. The place I'm at now, threw me a curve; I was told in interviews, etc that there was a tuition reimbursement program. Once I got inside, and had access to the HR policies, I found out that they reimburse you only for so much money, and if what you study is pertinent to your position (ruled out that PhD in Rocket Science), and THEN, you had to work so many months (I can't remember how many, it was either 3 or 6) for each credit hour reimbursed (so a 48 credit MSN program could put me in for more than 12 years of servitude, give or take, that or I pay back what I was reimbursed). When you go from place to place to interview, ask them specificially what kinds of programs they offer, how they're offered, and the stipulations involved. I know nothing about how things work in California; I can speak only of my experiences in PA and NC. I did interview for jobs in TX and DC, but I can't recall what their policies on educational expenses/reiimbursement was.
    Last edit by Candidnt on Apr 21, '05 : Reason: math might have been wrong
  5. by   casualjim
    Thanks guys this helps a lot.
    aloha
    Jim

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