Loan Repayment?

Mommy TeleRN, RN · Apr 24, 2007

FYI I heard Methodist removed their cap to how much they will repay...the only catch is the loan has to be related to your healthcare degree (can't be from an old degree in another field)

They also raised their pay this week .. I think everyone is scrambling to keep up with Baptist. New grad pay at Methodist is 20.25.

Lisa CCU RN, RN · Apr 24, 2007

I'll tell you this, Middle Tennessee has some catching up to do!

I just called two hospitals and neither offers loan repayment or internships!

I wish I could figure out how to stay in Memphis. The programs here are awesome and so are the hospitals.

Oh, and do you know Vanderbilt's new grad pay is only 17.50!

That is ridiculous! The lowest in Memphis is 20.25.

prinzessdy · Apr 24, 2007

MommyNurse2b Is it still 250 that they will pay a month on your student loans? And do you have any good news on st. Francis? I spoke with the nurse recruiter their and she was really nice. It was almost like they are recruiting you over the phone. I havent spoken with Methodist yet, but Baptist HR was a little short with me after I told her that I did not want to work in OR (or as she said "surgery") or M/S, maybe she just had a long day.

Lisa CCU RN, RN · Apr 24, 2007

Yes, it's still $250.

I'm not surprised about what you said about Baptist HR, LOL.

prinzessdy · Apr 25, 2007

Thank CRNa. I am glad that it was not just me.

Mommy TeleRN, RN · Apr 25, 2007

St Francis has not yet raised their pay. They are offering full time without benefits at a rate very competitive with Baptist. The MED does not offer that option. The MED sells you on the opportunities there for neat experiences I guess. So far Methodist is the only one that offers lodging due to the dorms .. if you are traveling from surrounding counties.

Lots of competition in Memphis..which I guess is good for us! :) I do know also that St. Francis does not have a cap on loan repayment and it's 250 a month.

Now Methodist told me they will pay your PAYMENT Up to 250/month. Unless the recruiter was misinformed. My loans will be eligible for deferment so I don't know how that will work. I don't owe all that much so I'd like to have the full 250 to pay them off soon. Or I think they pay you directly...so maybe theoretically say your loan is 5k they pay you 5k over what 20 months... and you can choose whether to go ahead and pay or keep in deferment? I don't know all the details of how exactly those programs work.

prinzessdy · Apr 25, 2007

Thanks mommynurse2b! I put in an application at the Med but I havent checked with them. I only did these applications last friday so hopefully I will be hearing from them soon. I am a little afraid that I waited to long to apply for these positions. I have never been to Memphis or any of these facilities but will be traveling there real soon. I hope that I pick the right facility.

Lisa CCU RN, RN · Apr 25, 2007

Well, I tell you, they certainly don't have this kind of competition going on in Middle Tennesee area.

prinzessdy · Apr 25, 2007

I agree, Not in east tennessee either. Thats why I am leaving

Mommy TeleRN, RN · Apr 25, 2007

Keep us updated prinzessdy... are you a new grad? I think most of the hospitals in Memphis have good things to offer, plenty of good places to choose from.

Do not worry that it is too late... trust me... they are all short handed and there are PLENTY of openings.

prinzessdy · Apr 25, 2007

Keep us updated prinzessdy... are you a new grad? I think most of the hospitals in Memphis have good things to offer, plenty of good places to choose from.
Do not worry that it is too late... trust me... they are all short handed and there are PLENTY of openings.

Thanks;)

Yes I will be a new grad as of May 6th. I havent even really started looking for a job until last week. I wanted to wait until closer to graduation to start looking for a job because things would be less stressful around this time. Thanks for the encouragement. I was afraid that all of the Intern/new grad programs/positions would be filled by the new grads in the area by the time that I would be applying. I will keep you updated as soon as I hear something.