Hospital Service Scholarships

Published

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!

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?

I doubt it... The way it worked at my hospital, was I would go to the bookstore and get my books and I would go through the financial aide/scholarship line and tell them 3rd Party payment, which is the hospital.. They would put it in, and it would show your balance, etc and they charged it like that...

Up Vote Up Vote ×
Specializes in ICU.

Mariedoreen,

Four years is alot. Are there any other hospitals in the area that only want two years? I wouldn't sign for that amount of time unless I had no other options.

Up Vote Up Vote ×

MD,

Four years seems like A LONG TIME to me! If you truly need the money for school maybe you could save some of your first paychecks in case you need to use the buy out option. Gosh, look at your life four years ago things are constantly changing. I certainly would think long and hard about taking their money, but if I did I would then save it up to pay them back if need be.

Up Vote Up Vote ×

I got 6000 for each year that I signed up (I signed up for 2). Plus I will get the same starting salary at the time for any new grad nurse that they would hire. I will also get the sign on bonus at the time. They also have an 8 to 12 weeks preceptorship program. I signed with this hospital because It would've been the first hospital I would've applied with even if I didn't take the scholarship so it works out for me. Please make sure you touch every point and shop around before you make a decision because 4 years is pretty long... Let us know your final decision...

Up Vote Up Vote ×
Specializes in Med-Surg, Psych.

For those of you that interviewed for a scholarship/ work-program, did you send a thank you note after your interview? How long after your interview was it before you heard if you recieved the award?

Thanks,

Michelle

Up Vote Up Vote ×
Specializes in ER, ICU, Cardiac, Med-Surg.

I recently accepted a similar scholarship. I have a year of work service for every academic year that the hospital pays for. If I begin working for them before graduation I can switch to an employee tuition reimbursement plan instead and owe them less work time. I don't have to pay back any cash unless I leave prior to fulfilling my work obligation. If I do leave prior to completing my required time, I have a payout option. I still pay for my own books. They pay for tuition only. I know people who work at this hospital and like it. I will be paid the same rate as any other new grad RN.

Up Vote Up Vote ×
+ Join the Discussion