nurse scholarship in exchange for set employment

between hubby and I we already have 25k in loans.

so id rather not spend a lot more.

I have found 2 hospitals willing to pay for school in exchange for 1-2yrs of employment. both pay while you are in school. They are both pretty good hospitals (one is a teaching hospital).

has anyone else used these resources and regretted it?
I've never heard of a hospital paying for all of college. I have heard of fixed percent or dollar amount tuition reimbursement providing you keep a B average as well as the ball and chain. Still gonna be some bucks you need to front.

they pay 3500 a year.

the ADN college ive applied to cost 9k

or if i want they will pay 300 a month to my loan payments up to 10k for a 3yr commitment on my end.

I am currently on scholarship with a local hospital. They pay for tuition, $100 toward uniforms, provide lab kits, books. 2 year commitment made and I hope to find it all goes well when I graduate :-) I'll let you know!

The school I went to offered a program just like this; small stipends given out each semester in exchange for an employment contract. The payments were taxed though and counted as income. I didn't bite because even a small stipend counted as income would have dramatically cut my other financial aid. They are no longer offering the contract anymore, too many new grads, and cancelled many of the contracts people signed. With the current state of the new grad employment, I would sign even if they didn't offer money. Just cross your fingers they don't cancel on you.

You should definitely do it, with a adn, you would be very lucky to get a job with the way things are going right now. With this option you are getting money for school and a job, seems like the right option.

I used it, and I do not regret it. As a matter of fact, I alway encourage others to do it.After you gain RN license, you will be working somewhere anyway,.. so while you are working, gaining experiences, you are paying off your commitment. Plus, you have a job scured after the graduation. After all the money they have invested in you, more than likely they will hire you before others. I know, signing a contract is not comfortable, but it is not bad. The time will go by fast. Think of it as a big bonus.

I say go for it. Even if you hate the job......you will have a job in hand when you graduate, it's only 2 years which will fly by quickly and when the 2 years is done you will have the experience to apply for another. Sounds like a win-win to me.

Just do it!

It sounds great in theory. No problem with agreeing to a few years at a hospital who pays for my education. However, I work with a current new grad. He worked for our health system all through nursing school and received education assistance (they pay I think $3000 per semester? It's an AWESOME deal). Anyways, once school is done, the person has to work within the system for 2 years. Well guess what? Not one hospital in the system (8 of them!) are even willing to give this new grad an interview! So guess what? He is SOL and will have to repay all these "loans." So I guess my point is, just be prepared to possibly owe money in the long run anyways!

well I have to get loans do to this anyways..so I guess taking the risk of having to pay them off in the long run isnt that big of deal. I looked online and they had 3 grad positions open right now.I put a call in to the HR person handling this...just waiting to hear back now.. I also called several other hospitals to see if they have the same program...waiting to hear back from them.thanks everyone for the input.