Question about loan forgiveness opportunities in Hospital job contracts?

[David596]

I've been accepted into an Accelerated BSN program this year! Very excited!

So I was wondering do hospitals typically offer to help pay off your loans with a contract to

work for them for a set number of years?

I hope this question makes sense.

Thanks,

David

[meanmaryjean, DNP, RN]

While this type of arrangement used to be quite common, it has gone the way of the dinosaur what with the oversupply of new grads in the marketplace.

[Sour Lemon]

I've been accepted into an Accelerated BSN program this year! Very excited!

So I was wondering do hospitals typically offer to help pay off your loans with a contract to

work for them for a set number of years?

I hope this question makes sense.

Thanks,

David

Typically, no. There are still a few employers who offer tuition reimbursement if you're employed full time with them while in school, but it's becoming less and less common. Contracts are being more and more common, though. New grads often have to sign up for a two year commitment to get a foot in the door. There are financial penalties when new grad contracts are broken, but no financial reward beyond a paycheck.

[Extra Pickles]

government jobs sometimes offer a low rate of interest in consolidating student debt and sometimes have loan forgiveness options but you shouldn't count on that as a guarantee. Most places no, don't care to pay off your debt since they can hire plenty of nurses without that cost. just how the times are.

[HouTx, BSN, MSN, EdD]

I haven't heard of any of these arrangements since ~ 2004 except in rural communities. There are some rural areas that are still willing to use this as a recruiting inducement. But it's associated with a rigorous contract. My advice? Contract your state's rural health care organization to begin exploring the opportunities.