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So I was accepted to 2 nursing programs--1yr LPN and 2 yr RN--decided to go with the LPN because its cheaper and closer to home. However, I talked to the financial aid officer at the (private) RN program and she tells me that the hospital that runs the program will pay $15,000 (nearly my entire tuition because I have already completed most of the pre-reqs) in exchange for "about" five years of service--the loan is forgiven at a certain amount per hour of service, which is estimated to take about five years. Has anyone went through any of these types of programs? Had any luck? What do you think?

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Not quite like that but something similar. When I graduated more than half my class was accepted into a critical care preceptorship at one hospital. We had to sign contracts that promised two years of service in exchange for the training. If you get it in writing, I'd go for it, BUT check out the hospital first. Talk with some employees if you can, find out how they like working there. Ask the recruiter what the turnover rate is in staffing; if it's high you want to avoid it like the plague.

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Specializes in Adult and Pediatric Vascular Access, Paramedic.

My oppinion is that you should look past the money aspect. If you want to be an RN then do it now while you are accepted into a program. You will more than likely receive more in pay as an RN than an LPN and you will also have more job choices.

Swtooth

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the program will pay $15,000 (nearly my entire tuition because I have already completed most of the pre-reqs) in exchange for "about" five years of service--the loan is forgiven

OK Some of this sounds fishy to me.

1. That is a rip off. 15,000 for 5 years! Most hospitals (in my area) offer 5-10k per year of service. Be very careful about signing those contracts of service. If you hate the hospital you are obligated to stay there for 5 years! Call your local hospitals and ask for the nurse recruiter. Ask him/her about the different tuition reimbursment plans they have and ask about scholarships etc.

2. You can take out a Perkins loan. Depeneding on your financial need you can get up to 4,000 a year for undergraduate school on top of Pell Grant, other Grants your college offers, and state scholarships. Each year you work as a nurse, your loan is forgiven the payment for that year until your loan is paid off.

3. Google "your states" nursing school scholarship. Most states offer scholarships once you are accepted into a nursing program.

4. Talk to the school's financial aid office and ask about other grants/scholarships for nurses.

5. Go to the discover nursing website and do a search on scholarships in your area.

There are a lot of ways for nurses to fund for their education. Good luck!

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Specializes in cardiac/critical care/ informatics.

you also have to think will you be able to find employment as an LPN? Most hospitals are not hiring at least not around here. LTC and doctors offices is about the only places that hire LPNs around here.

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Specializes in FNP, Peds, Epilepsy, Mgt., Occ. Ed.

Five years sounds like an awfully long commitment.

All kinds of life changes can take place in five years. What seems ideal right now may be totally wrong in five years.

Personally, I'd find another way to do it.

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I do want to be an RN--this is the shortest, most direct way, but I'm still keeping myself open to both options as long as possible. And you can "buy" yourself out of this commitment--but I'm not sure what the interest rate is (if I'm guessing I'd imagine it to be not so great!). The only other hospital I've checked with does loans at $2,000 per year of service. This one is $3,000 per year (roughly--as it is determined to the hour). Employment as an LPN is not extremely hard to find here--they still are able to work in our hospitals--as well as nursing homes, schools, doctors office etc.

Thanks for all the advice, it's alot to consider!

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Specializes in Geriatric/LTC, Rehab, Home Hhealth.
you also have to think will you be able to find employment as an LPN? Most hospitals are not hiring at least not around here. LTC and doctors offices is about the only places that hire LPNs around here.

Same thing here. There is also employment in the public schools, but the pay is TERRIBLE. Definately more options with the RN.

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Specializes in Mental Health and MR/DD.
you also have to think will you be able to find employment as an LPN? Most hospitals are not hiring at least not around here. LTC and doctors offices is about the only places that hire LPNs around here.

That's the same in my area.

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