Tuition reimbursement with first CRNA job.

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My husband and I are trying to plan our finances for the remaining two years of my CRNA program. I did a search on this forum, but did not come up with my answer.

I realize each employer may be different, but wondering what you've found at your employer. For tuition reimbursement programs, does the employer want to see loan papers detailing the exact amount of your loan, or will they pay out $30,000 over 3 years (if that is the plan) regardless of your loan amount? We have been dipping into our savings/investments. But want to know if we should take out additional educational loans in hopes of having that amount paid off by a future employer rather than taking money from investments with no evidence of using the money for school, other than receipts. Make sense???

Any info regarding tuition reimbursement is appreciated.

Jennie

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Be cautions with the reimburstment issue and what you owe them as far as time worked ect. Dont know if you saw the latest issue of the aana journal. A SRNA took at stipend and signed a contract promising to work for the employer for 5 yrs I believe. She then graduated but there were no CRNA positions available. However the contract she signed didnt say it had to be CRNA work, it just said work. So it was either take another job and not do crna work and make less money or pay them back the money owed. You should really read the article, they have several pointers to those looking the go this option. I myself just took out loans, dont want any administrator deciding what kind of work I will be doing post graduation

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She works at my facility and that whole deal was a sham. Nitecap is right. The contract never stated employment as a CRNA position. They offered a staff RN position after completing CRNA school. That's laughable..

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I'm not planning to sign up with a group now, as I do not know where we will end up moving when I'm done with school. What I'm wondering about is when I'm negotiating for my first job as a CRNA (in 2 years) and they offer tuition reimbursement, will they only cover the cost of school....or give you $30,000 (or whatever the amount is) regardless of what your tuition cost over the time of employment.

It's unfortunate that the new CRNA did not have a job when she was done with school. I will have to check my latest AANA journal for the article.

Thanks for the info.

Jennie

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I heard about this article from a couple of different people. Can somebody post the article or link, since you have to be a member to view?

My contract is similar, but requires that I be awarded a CRNA position within a certain time period after graduation or the loan will be forgiven entirely. If you would like to know more, pm me.

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Early financial planning is good, this course and clinicals are so trecherous I cannot dream about signon bonus until I see the lights at the other end of the tunnel I guess that may be after last day of the clinicals and certification !

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Interesting to read this concern..I will be attending a CRNA program starting in August. Director of education at the hospital that i'm currently employed actually approached me regarding possible tuition assitance. I actually never even considered this a concern when i was considering. Our hospital was awarded a federal grant to be used for education purposes for health care/allied health and it's not from the hospital themselves. Would you mind providing more information on this so i can make an informed decision when it comes time to consider a contract? Thank you!

B.

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Specializes in Anesthesia.

I will also be graduating in 2 years and I have "heard" of SRNA's signing contracts with hospitals who will pay off all of their educational loans if they agree to work for a certain amount of time....blah blah blah. However, I have yet to actually come across a hospital or anesthesia group that does this. A lot of hospitals or companies advertise "sign-on bonuses" or "tuition reimbursement" but none of these offers begin to even come close to the cost of my education. Are there actually companies out there who will pay your loans or is this all completely fabricated??

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I'm hoping to have loans in the amount of tuition only, so I think I will be able to swing it. I have friends who have signed on for $50,000 to work over five years, with $10,000 a year for loans, plus a sign on bonus. so it is possible.

Jennie

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The bottom line.... Get through school and THEN look at student loans being paid. If you decide to have the same standard of living that you did as an RN for the first year and half, I believe the loans would be history.

I'm hoping to have loans in the amount of tuition only, so I think I will be able to swing it. I have friends who have signed on for $50,000 to work over five years, with $10,000 a year for loans, plus a sign on bonus. so it is possible.

Jennie

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She works at my facility and that whole deal was a sham. Nitecap is right. The contract never stated employment as a CRNA position. They offered a staff RN position after completing CRNA school. That's laughable.

I don't understand something. How could a hospital not have CRNA positions available with the shortage. And why would they want a CRNA to work as an RN. It seems like such a waste.

:confused:

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I will also be graduating in 2 years and I have "heard" of SRNA's signing contracts with hospitals who will pay off all of their educational loans if they agree to work for a certain amount of time....blah blah blah. However, I have yet to actually come across a hospital or anesthesia group that does this. A lot of hospitals or companies advertise "sign-on bonuses" or "tuition reimbursement" but none of these offers begin to even come close to the cost of my education. Are there actually companies out there who will pay your loans or is this all completely fabricated??
These arrangements are a double-edged sword for both parties - employer and employee. The main problem for both is WHAT IF IT DOESN'T WORK OUT?

We often offer signing bonuses and tuition reimbursement arrangements (not both ;) ). Signing bonuses are given when the anesthetist starts working, tuition reimbursement usually in installments through school. The amount is negotiated in the contract. Whether or not that "tuition reimbursement" deal covers your costs depends on the school. If you've gone to a private university anesthesia program, it probably does not. And to be realistic, even if you've gone to a cheaper program, your tuition and living costs combined probably aren't going to get covered. But it's still a lot of money for both parties. And we've recently been "outbid" on a tuition reimbursement arrangement, potentially setting the bar even higher. How high is too high and what remains a reasonable balance of $$$ vs contractual time committment? We're not going to hand over $50,000 to someone who bolts after a year.

Spell everything out in writing and understand it BEFORE YOU SIGN.

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