signing bonus?

[goodgalpal]

Anyone here have any details about signing bonuses in MI? Who offers them, what figures have you guys heard of?

[AnnaN5]

At the hospital I work they don't call it a sign on bonus, it is a lump sum reimbursement program. The paid $10,000 directly on my student loans for a 2 year commitment.

[Just_An_Illusion]

At the hospital I work they don't call it a sign on bonus, it is a lump sum reimbursement program. The paid $10,000 directly on my student loans for a 2 year commitment.

Hi-

What hospital do you work at? Were you a new grad?

[Goldie_Ferragamo]

10,000 directly on student loans for a 2year commitment does not sound bad at all!

[SnowStar4]

What if you didn't take student loans? Think they would just reimburse you directly or would you lose out?

[NoviceRN10]

What if you didn't take student loans? Think they would just reimburse you directly or would you lose out?

If you keep all your receipts (tuition, books, uniform, etc.) there are hospitals that will reimburse you as a sign on bonus (as well as giving cash bonuses on top of that).

[AnnaN5]

They paid the lump sum on some people's credit cards if you had the statements showing that you used a credit card to pay for your tuition & expenses. If you paid in cash then there is no reimbursement available. They said there are different rules if they are making the payment directly to you & it ends up being taxed. The way they do it they do not make the payments to you and you do not have to pay taxes on the money.

[SnowStar4]

That sucks! I'm trying to avoid new loans since I still have them from my BS degree. Sounds like I'd be better off taking them so that a hospital will pay them off.