scholarship$$ in exchange for services after graduation?

[laceface24]

I have been searching many scholarships offered to nursing students, and I have noticed that many require you to commit services to work for them if you are chosen as the winner. For example, there is a scholarship for nursing students wanting to work Peds, and in return to them giving you money, you are required to work as a RN for Children's for 18 months. Has anyone ever done this? would this work out in my benefit job wise, since nursing jobs are hard to come by these days? Are these paid services? Any help/suggestions would be awesome!!

[bananimal]

They are usually called "forgivable loans." I am getting one through one of the local hospitals; for every $5,000 you are loaned, you have to commit working for them for 1 year. It is a win, win situation-- you are guaranteed a job right out of school. The terms are probably different everywhere, so you'll have to check on specifics from your own lender, but I think it's a wonderful way to get money for school.

[caliotter3]

Many people find that they are not happy with the facilities after they begin to work there, but they are bound to the terms of their agreements and face paying the money back should they decide to quit. Another downside that many are getting caught up in is that they take the money, finish school, then when it is time to go to work for the organization, there is no job. Whether or not they get a job elsewhere, the organization comes after the money. I would not want to be in this type of situaton. There are more ways than one that this could interfere with future employment opportunities. All possibilities should be explored prior to accepting such a "scholarship".

[bananimal]

After I read caliotter3's post, I should add that the hospital I have my loan from is one of the biggest and best in the area-- I've gone through several educational programs through the college (which is how I am getting this opportunity), and my clinical experiences in school are also at this hospital, so I am quite familiar with it already and really have enjoyed all of my experiences there. This hospital in particular is also building a new heart & vascular care center which is going to be opening up around when I graduate that will need to be staffed. In the terms of my agreement, I can also work as a PCT DURING school and have it count towards paying back my loan. I am confident in my placement at this hospital after graduation-- but with the things that caliotter mentioned-- my situation is probably far from typical. So definitely explore all of your options!

[SunDazed, BSN, RN]

I did. My post graduate service to the hospital is 4 years. The tuition/fees paid were almost $40K. I wish I had done more to see what the hospital was like. I went from Cali to the Midwest. I had no idea that the general hospital environment could be so different, i.e. nurses being treated like team members v. nurses being treated like cogs in a machine. NOT all midwest hospitals are this way... just the one I am at. Do some research on the hospital offering the scholarship, not just the school with the nursing program.

[Lacourty]

I had a forgivable loan that required that I work in an area of nursing in critical shortage specifying what type of facility. If you could not find employment in a facility of your choice you would be assigned to one that is in critical shortage. My choices were hospital, rural clinic, Native American or Hawaiian health care center, home health, or nursing home.

[brooklynne]

How do you find out which hospitals have the loan forgiveness program?

[jlcole45]

Been there done that. Hey you have to work somewhere after graduation. At least this way you know you'll have a job and you'll get your tuition paid for. It's a pretty good deal - take if you can get it.

[Angelic471]

I entered into a scholarship program which in my opinion was more like "continuing education" as the point was for the Hospital to educate their PCT's to become RN's. It was ran in conjuction with professors from my local community college, which is how I found out about it. It was 100% (books and tuition) paid for in exchange for 2 years of employment afterwards. I didn't think that was a bad trade considering I would at least have a job afterwards and at a University Hospital. My problem was that I was not able to finish because of complications that I had after the birth of my son. Being that it was ran through the Hospital it was a continuing program. You could not repeat any classes for any reason, unlike "normal" college Nursing programs. Six months later I wanted to return to school and use the credits I had earned but the Hospital wouldn't allow it unless I paid back the tuition. In hindsight I understand. I signed a contract that stated what would happen should I drop out, fail or be unable to continue for whatever reason. I just never believed it could happen to me. Becoming a RN has been my dream for as long as I could remember, guess I was a little naive?!