Work Contracts with Hospitals for Tuition?

[PacoUSA, BSN, RN]

Hello,

Questions for you all that have signed contracts with hospitals in exchange for tuition and/or loan forgiveness:

(1) Is it possible to obtain such an agreement with a hospital that is in one state and attend school in another (i.e., a hospital in NY and attend nursing school in PA)

(2) How does one go about researching these opportunities? Should I approach the hospitals or the schools as sources for information?

(3) Are hospitals more open to such agreements if you're willing to sign longer contracts? Just curious.

Of course, the current economic climate may very well have decreased these opportunities greatly but I am very interested in the past experiences of everyone who reads this. Thank you!

[RNTutor, BSN, RN]

I did not take advantage of this kind of deal, but several of my classmates did when I went through school a few years ago. T

1) I don't see why not. The main thing is they will want you to be eligible for licensure in the state that the hospital is in. So you would want to be clear that you are either going to obtain a license in a compact state (if the hospital is in a compact state), or that you intend to obtain license in the state the hospital is. Make sure you contact the Board of Nursing for the state you want to work in to make sure that you will have met all of their requirements for licensure when you graduate.

2) Approaching the hospitals will probably give you the most accurate information, particularly if you are looking out of state. Your school might have some info on programs with your local hospitals, but I doubt they will know that about every hospital in the country. I would suggest checking the hospital website first, and calling the nurse recruiter for the hospital as well.

3) Not sure if longer contracts make hospitals more open to an arrangement. In my area, the hospital just offers a bigger scholarship for a longer commitment. That's why I chose not to apply for that deal...I didn't want to feel stuck working for a hospital just because I couldn't pay back the money. And my hubby's in the military, so there was a good possibility we would be moving before my contract would have been finished. So keep that in mind when looking into these deals, you never know what life has in store for you so sometimes it's better not to commit to too long a timeframe!

Hope that helps...

[UVA Grad Nursing]

These generally are coming as 'loans' now with promissory notes requiring several years of work in exchange for a loan forgiveness. If this is the case, there could be three drawbacks. One, your credit score will be affected by taking out a large 'loan' to cover your tuition. Two, the loan cancellation will look like income (you will get a 1099 form when the loan gets cancelled) and you will need to pay income taxes on this. Three, if you moved or did not like working for that employer, then you are liable for full repayment, interests plus penalty.

These programs have become rarer with the economic downturn --- what extra money employers have may be devoted to retention/current employees rather than attracting new nurses.

[PacoUSA, BSN, RN]

Thank you both for your throrough and kind replies! :)

[peas&carrots]

I am going to go for an interview this coming week for this exact set up. For me it is the best option because I don't qualify for financial aid through my college. The hospital system I am applying to is one that I want to work for anyway so it's a win-win situation for me. The first thing is to find one to apply to but you have to remember they have deadlines like most scholarship programs. The one I applied to had to be in by the end of May for the following year. The requirement is a year of work for every year of schooling paid for. I'm excited because one of the hospitals that I could work in is a teaching hospital where I would be working with a lot of interns. I would definitely research the facility and make sure it's somewhere you would love to work. Hope this helps a bit. :)

[PacoUSA, BSN, RN]

I am going to go for an interview this coming week for this exact set up. For me it is the best option because I don't qualify for financial aid through my college. The hospital system I am applying to is one that I want to work for anyway so it's a win-win situation for me. The first thing is to find one to apply to but you have to remember they have deadlines like most scholarship programs. The one I applied to had to be in by the end of May for the following year. The requirement is a year of work for every year of schooling paid for. I'm excited because one of the hospitals that I could work in is a teaching hospital where I would be working with a lot of interns. I would definitely research the facility and make sure it's somewhere you would love to work. Hope this helps a bit. :)

Yes, it certainly does! In fact, there are two very large teaching hospitals at which I would prefer to work if I had my choice (I was born at one of them and that would be my first choice). I will start to do my homework and see what I can find out, thanks!

[peas&carrots]

An update on this subject....I got the scholarship! I am so excited and the idea of going to school without worrying about money is incredible. I definitely think it is worth it to jump through all the hoops and find one of these programs. Good luck in your search. :)

[PacoUSA, BSN, RN]

An update on this subject....I got the scholarship! I am so excited and the idea of going to school without worrying about money is incredible. I definitely think it is worth it to jump through all the hoops and find one of these programs. Good luck in your search. :)

Congratulations!! Wonderful to hear, especially in these tough economic times :)

[RebeccaV]

Check with the hospitals and tje area you want to work. I've heard of the contracts, but I've also seen hospitals in my area offering loan repayment as a sign on bonus, and most states have a loan forgivness if you go into nursing in an area thats really in need of nurses. I don't think I answered your question, but if it's payment worries, you have other options.