Is it worth locking yourself into Banner for 3 years?

U.S.A. Arizona

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I have an interview for their July cohort - the "free" 16 month accelerated RN training program. Banner sponsors it - you owe 3 year committment or have to pay back close to $10,000. I am also accepted at Phoenix College for their "traditional" program. Assuming I get accepted at Banner, is it worth locking yourself into that company for 3 years just to finish 5 months earlier? Any thoughts?

Basically, teachers and nurses get credit for 'community service'. Our classes and clinicals are considered community service so we can get credit for the hours we spend in school and in clinicals, even in the library studying (doing research). All you do is sign up, get sworn in, and then log your hours every month. We have a log that we just fill out and turn in at the 1st of every month. You have a choice of serving 300, 450 or 900 hours (900 is for 2 years) and at the end of that you get paid in a 'voucher'. This voucher can be used to pay off student loans, or to pay future tuition/books etc. It's really basically free money for doing something you're already doing. Here is a link, not sure what info it gives but it may help

http://www.americorps.gov

HTH,

Keli

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Thanks!

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Hi Everyone,

Just a quick note. Banner nurses are getting RAISES!!!! It may just be RN's, but pay is going up to approx. $24/hr. for new grads. I'm working there, having relocated from out-of-state. My relo package was great - especially by moving in to a specific zip code I received an additional $3K moving. The money was paid up-front - taxed at 25%, but up front!!

I work med/surg and our patient load is between 4-5 patients. However, the biggest downfall I have found is that they spin the rooms like a top. You no sooner get someone discharged and they're calling to fill it. Sometimes you can end up with an additional 4 patients per 12 hour shift. Also, they are really BIG in transferring between 6-7:30 pm. Last week we had 4 transfers in at 6:45 to 7:20. It was NASTY!!!

I will tell you that Scottsdale pays better than anyone. Their shift diff for the evening/nights is the best in Phoenix. They also pay your student loans back at $5,200/year for RNs.

Hope this helps you make a decision.

tracy

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YES, I am in the last semester of the Banner program and I have been very impressed. Not only do you get EVERYTHING paid for (which included every single possible book needed brand new in boxes the first day) but also an accelerated program at the largest nursing school in AZ-Gateway community college. We have had great instructors (there's always one or two that are a problem of course). They have come to us at school throughout the program to bring us lunches and recruiters. You have a better chance at getting an externship, which can be very difficult. We seem to get ALOT of priority, they really go out of their way to let us know they appreciate us and our commitment. You dont have to work for them during the program, just after. You still have all the choices of what area to work in and what location. Everyone's right life happens, if by chance you do have to leave Banner, you pay back the loan, no big deal. Its what you would be paying if you paid up front anyhow..or if you have to move or transfer you can always get a sign on bonus from another hospital to cover the loan for the most part. There is ALOT of competition to get in, if you are lucky enough to have the opportunity, I say go for it. I've been with them a few years and I think they are a great company. Oh and about the pay, they have just increased new grad pay, it is the same as every where else for the most part, there are alot of rumors about who pays what, dont fall for that. If in fact a place is willing to pay that much more, theres a reason, do your research. GOOD LUCK TO YOU!

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Specializes in cardiac/education.

Tracy and everyone else,

Thanks for the inside information on Banner. Us students appreciate it!!!

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Thanks to everyone who helped me make my decison...BANNER! I just received and mailed back my acceptance letter. The Banner people seemed great at the interview - and I have only heard wonderful things about that program.

Thanks again, allnurses folks!

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Specializes in Pediatric ICU.

Congrats Stopnik! I have a friend at the Banner-Gateway program and he's in the 2nd block right now. It's a lot of work but he is enjoying it. No complaints. Good luck.

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:balloons: :monkeydance: :smiley_aa :yelclap: :cheers:

congratulations!

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does anyone know the exact amount of buyout for banner?

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does anyone know the exact amount of buyout for banner?

Wow - can't believe I started this thread almost two years ago. Shows how fast the Banner Program moves (that is a plug for the program:up:). You will owe about $4,000 or so. Well worth the money - if you stay great, if you go - no biggie.

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Specializes in Med/Surg/Tele/Acute Rehab.

It's only what they pay out for you...tuition, fees, books...right about $5000 I believe. If you have the chance, pounce on it. If you decide not to stay with Banner after graduation, you can put that much on a credit card and then pay it off with your sign-on bonus from another employer.

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You might want to keep in mind the idea that most hospitals have buy-out programs when it comes to student loan agreements. I figure the first year is my year of service. After that, I'm no longer a "new grad" and can leave... hence owing Banner 2/3rds of the $10,000 that another facility might pay anyway. Or after a year, I could transfer to a more specialized area of care. As I've found in clinicals, the work atmosphere varies from unit to unit within a single facility so it's hard to say one experience is what Banner is like.

Personally I figured out the difference in income and realized that by waiting a year to get into a traditional progam, I'd be losing over $10,000.

Banner will be opening three more facilities within the next couple of years - Banner Children's, Banner Ironwood and another I'm not sure has been named yet. Plus, they just merged with Sun Health. There are a lot of options and specialty areas within Banner and you can live anywhere in the valley and be relatively close to one.

Oh, another benefit to the Banner program - the 30 students are selected from a large pool so you'll probably be with a group of students who are a bit more advanced (for lack of a better term).

The biggest drawback - no summer break and a very quick pace! If you slip a little, it'll matter a lot. :twocents:

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