Published Nov 15, 2003
You are reading page 4 of How are you paying for school?
I live in Maryland. The accelerated program I attend meet on Tuesday and Thursday evenings and every other weekend. This program was designed for people with an existing Bachelor's degree. I am able to work fulltime; however, my employer is flexible if I need to leave early, etc. Although I haven't needed to leave early due to school primarily because I wanted to see my children before class.
I am in, or will be in (University) on HECS. Brief explanation here:
HECS-liable places at university are Commonwealth subsidised places. If you are enrolled in a HECS-liable place you contribute to the cost of your education, while the Commonwealth contributes significantly by paying around three quarters of the cost.
Student have 3 choices about how to pay their HECS contribution-
1. Pay the HECS contribution up front and recvieve a discount of 25%
2. Defer your HECS contribution and pay it via the taxation system when the HECS repayment income reaches the minimum threhold.
3. Pay at least $500 of your HECS contribution up front - and recieve a 25% discount on that payment and defer the remainder.
(I have gone with option 1)
Once you are working the costs that came from the Commonwealth Government you repay through:
-your taxable income for an income year ; plus
-any amount your taxable income has been reduced by a net rental loss; plus
-your total reportable fringe benefits amounts shown on your Pay As You Go (PAYG) Payment Summary.
Well, I wasn't able to get a grant , and really did not want to get further in debt with loans...so I am paying out of pocket:o
I can only afford a couple of classes at a time but working full time with 2 kids, that's probably all I could do anyway!:)
...well, this is a great question. I've not yet got funding, but here is a list of sources that I've been looking at and you all may also find helpful...
sabRN2b05, BSN, RN
I attend a community college on the Gulf Coast of MS. My total tuition (including Liability Insurance, books, testing fees, etc.) was only about $900. I got a pell grant for $1500 for this school year ($750 each semester) and the MTAG (MS Tuition Assistance Grant) for $500 ($250 each semester). Most of our books are rental books, but there are a few we have to buy. I also had to buy all the "new nursing student" supplies (BP cuff, stethoscope, uniforms for clinicals, shoes, etc.) so I've had some out of pocket expenses.
I thought my husband and I would make too much money for me to receive financial aid (I applied January 2003 when I was still working full time) but I got it. Hopefully, since I've taken a different position (AND pay cut) since I started nursing school, I'll get more financial aid for my last two semesters when I apply in January 2004. I was also lucky enough to get a scholarship for $5000 ($1250 per semester) from one of the hospitals that the company (Tenet Healthcare) that I work for owns. The catch is I have to sign a 6 month contract for each scholarship disbursement I get. I'll gotten one disbursement and will receive three more by the time I graduate. So, essentially, I will obligate myself to work for them for two years. It's ok though, at least it's a guaranteed job when I get out. Since I already work for Tenet and the hospital I've signed a contract with is also owned by Tenet, I'll merely transfer with all my benefits, paid time off, etc. I will be starting from scratch so to speak, but not really, you know? The hospital I work at now is in Louisiana and is about a 25 minute commute. The hospital that I got the scholarship from is in MS and is about a 35 minute commute. Not too much further, and I won't have to file 2 state income tax returns!!!
When I graduate, I have 30 days to pass the NCLEX (talk about pressure!) and apply for any of their open positions. I was very leary about signing a contract, but then I got to thinking. Per their nurse recruiter (who is SOO sweet!), if I apply for their open positions, get a job, and quit before my two years is up, they'll prorate the amount of the scholarship that I "owe" them for and I'll have 30 days to pay it back. However, if I apply for their open positions and I don't get one, they have breached the contract and it's "forgiven". I guess the way I look at it is like this: With all the sign on stuff that hospitals are offering now, if another hospitals wants me bad enough, they can "buy" my contract!!
I've gotten two student loans so far that are helping supplement my reduced income. My husband and I still live paycheck to paycheck and we're trying to watch our spending. And, to those of you who are also getting student loans, Tenet offers a student loan consolidation program once you graduate and your loan payment is payroll deducted. AND, after you're approved for your consolidation, you can also apply for their student loan REPAYMENT program! I'm not sure of the criteria, but to have your loans repaid!! If you're approved, as long as you are still working there, they'll make your loan payment. Better than a sign on bonus if you ask me, since I'll have about $20,000 in student loans once I graduate!!
Anybody else work for any hospitals/corporations that do that?
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