what if you graduate without student loans?

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I've heard a lot about how most hospitals in the Saint Louis area will pay back your student loans while you work for them. But what if you don't have any student loans? Is there any other incentives they offer for people who don't need their loans payed off (i.e. bigger sign on bonus or something like that) or do you just lose that benefit?

Specializes in Med/Surg <1; Epic Certified <1.

Let me also make another disclaimer for those of you thinking of taking out loans "just in case".

The hospital where I was hired this past spring as a Graduate Nurse offers a nice tuition reimbursement program.

The disclaimer?!?!

"Only those loans which were payable directly to your educational institution"

What this meant for me: my private Sallie Mae loan is NOT reimbursable. I had no other option as I already hold a BS in another field and was unable to qualifty for traditional student loans for my community college. I took out the loan to help float me through the program after I quit my former full-time position in a business field.

Think carefully before taking a private loan thinking it will "only" cost you a small fee to take this on before a hospital hands over a wad of dough to help you pay it off. Additionally, the payments are spread out over a period of time, not in one lump sum.

Do your homework!

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The positive is you won't have to be tied down to an employer. If the hospital pays your tuition you have to guarntee you will work for them as many years as they pay for your school. You will have total freedom to switch employers or explore differant avenus without a time constraint.

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I personally would rather work for an employer than get a student loan. If I don't like that particular floor or facility, I can switch within. Its all about personal decisions.

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I just meant by that that things change some times people have to move or they find better job opportunties and when tuition is paid back or paid during the process you are under contract to be their a certain amount of time.

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Let me also make another disclaimer for those of you thinking of taking out loans "just in case".

The hospital where I was hired this past spring as a Graduate Nurse offers a nice tuition reimbursement program.

The disclaimer?!?!

"Only those loans which were payable directly to your educational institution"

What this meant for me: my private Sallie Mae loan is NOT reimbursable. I had no other option as I already hold a BS in another field and was unable to qualifty for traditional student loans for my community college. I took out the loan to help float me through the program after I quit my former full-time position in a business field.

Think carefully before taking a private loan thinking it will "only" cost you a small fee to take this on before a hospital hands over a wad of dough to help you pay it off. Additionally, the payments are spread out over a period of time, not in one lump sum.

Do your homework!

O thats GREAT! I did not know sallie Mae was not reimbursable. Looks like ill be paying that forever.

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