Stipends and how they work

krzysiu · Jun 21, 2006

if you dont mind, what school are you attending? i am interested in learning more about your question myself. hopefully someone replies soon...

chris

RNbama · Jun 21, 2006

i'll be attending wolford college of anesthesia in naples, florida. by the responses it looks like no one knows about stipends either..... :eek:

PTU2SLP · Jun 22, 2006

i'll be attending wolford college of anesthesia in naples, florida. by the responses it looks like no one knows about stipends either.....

Each group is different with their stipends. Without getting into specifics you get the money in return for a time commitment (2-4 years), just like a sign-on bonus. Just read the small print, it cost me alot when I finished and broke my contract to take another job.

Ekklesia · Jun 23, 2006

The Cleveland Clinic offers an $800.00 per month stipend while in Case Western Reserve's Nurse Anesthetist program.

They (the Cleveland Clinic) require you to work for them for 2 years upon successful completion of the program.

krzysiu · Jun 23, 2006

Does anyone regularly advertise "stipend positions" anywhere such as gaswork.com. What is a good way of finding out who is willing to do it in your particular geographic location where you want to practice?

Thanks,

Chris

gasmn2b · Jun 23, 2006

I made visits to all of the local facilities and groups and asked to speak with an administrator. I was unsuccessful in my attempts, but It never hurts to try. I did however have an easy-out with the head of anesthesia at the local state hospital. I ended up signing up for 40K repaid over 4 years. Only loop-hole is that I may have to move to another area of the state if the hospital in my town doesn't need me. My wife was not too happy about that stipulation.:uhoh21: But the head CRNA is a friend and I don't think he would do something like that to me. If they can't find a spot within 90 days for me then the 40 K is a freebie. I hope that comes true. :trout: I decided to go the stipend route because I am concerned about the flood of the local market in the next 3 years and wanted something a little bit more secure when I finish school. Just be sure to read through the contracts well and even take it to a lawyer if you need it explained to you better.

DreamMatrix · Jun 23, 2006

Stipends/contracts with groups can be a double edged sword. You are committed to work after training for a period of time...which, may not be the best situation for you. However, they can be a good way to pay for training if you lack the necessary finances to go to school. The problem comes from those who break/buyout contracts because they don't like the job or find a job they like better. This causes problems with the group and many times they decide not to offer any more stipends because they have been burned. So bottom line is...don't sign up with a group for a stipend unless it is the only way you can go to school, and if you do sign up...work out your entire committment and then and only then leave.

DM

AmiK25 · Jun 23, 2006

Here is how the stipend at my program works (and pretty much every hospital/group in our town offers the exact same deal). You receive $1000 month for every month you have a signed contract. If you sign for the entire 27 months, you owe three years. I have signed for 18 months so I owe 2 years. If you do not accept a job at this facility, you owe them the entire amount they gave you, plus 50%, plus interest. If you leave early, you owe them the remainder of the amount (they take off $750 per month for every month you work), plus 50%, plus interest. When you graduate, IF you are offered a position, you must accept within 5 days or you must pay them back as I stated above. Notice I said IF, because it clearly states they are not obligated to offer you a position. Now, I know this was not the case with the above poster, but I believe the majority of contracts do include this clause (someone correct me if I'm wrong). As far as finding contracts, when I was accepted into my program, I received a letter from pretty much every group in our town offering me a contract. Hope this helps.

DreamMatrix · Jun 24, 2006

Here is how the stipend at my program works (and pretty much every hospital/group in our town offers the exact same deal). You receive $1000 month for every month you have a signed contract. If you sign for the entire 27 months, you owe three years. I have signed for 18 months so I owe 2 years. If you do not accept a job at this facility, you owe them the entire amount they gave you, plus 50%, plus interest. If you leave early, you owe them the remainder of the amount (they take off $750 per month for every month you work), plus 50%, plus interest. When you graduate, IF you are offered a position, you must accept within 5 days or you must pay them back as I stated above. Notice I said IF, because it clearly states they are not obligated to offer you a position. Now, I know this was not the case with the above poster, but I believe the majority of contracts do include this clause (someone correct me if I'm wrong). As far as finding contracts, when I was accepted into my program, I received a letter from pretty much every group in our town offering me a contract. Hope this helps.

The 50%, plus interest is a pretty good penalty. Sounds like that group/hospital has been burned and now charges a big penalty if you don't honor the contract. In that case, if you want to go somewhere else, then pay the hefty penalty and go. Not all groups do this, (at least not yet).

DM

athomas91 · Jun 25, 2006

here's how mine worked...

they offered 50k for your full 27mo program - i signed later so the amt was pro-rated... i am signed with them for 3 years - they paid me 5k every 3 mos...

now on my paychecks - after i am paid they add in like $400 and tax it - then pull it back out - so i am paying tax on the money now as well as the interest on the forgiven amt each mo - which is like 30 bucks and decreases every month...

if i were to break the contract i would pay back the pro-rated amt plus interest.