Ok. So what's the worst case scenario here - I took out an education assistance loan from a local hospital while in nursing school and agreed to commit a year of service. Now that it's closer to graduation I have a job offer across the state line making nearly 20k more a year for the same shift. I won't be able to repay the loan immediately - so what's the worst that can happen? I WILL repay them just in monthly installments until I have enough money to knock it the rest of the way out. Can my license be revoked?
Male Nurse
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April 17th, 2008 at 7:07 pm
Depends on the state. In some states this is considered a moral obligation and is reportable to the BON. And if you signed an agreement, you’d better get legal advice before you try to break this contract. It could not only ruin your credit, it could well follow you for the rest of your career when you try to get a job that requires you to allow contact references from all your previous employers.
You might also be charged with theft or fraud and end up in real legal trouble! If you think $20,000/year more is worth the risk of legal trouble, well, you need to rethink your priorities.
Not only that, have you thought about what your behavior might do to others at the hosptial in the future if the facility sees that people like you make an agreement and then break it ? The hospital could stop this policy and others won’t have the benefit you did.
So put on your big boy panties, suck it up, and live by your original agreement. The $20,000/ year more will be there when your current obligation is done.
Or are you the kind of person who goes after what you want without regard for others or keeping your promises? If so, please go into some other profession….
April 18th, 2008 at 9:48 am
A year of service is not that long. Use it as an opportunity to build your skill set, then move across the state line. Based on the highly competitive nursing market, odds are that you will be able to find a similar job, same shift, same salary in a year from now. And, you won’t have made any enemies, you’ll have avoided any legal issues, and you’ll be debt-free.
June 28th, 2008 at 4:45 am
This is a tough question. It obviously depends on the size of your loan. One thing to think about is what other hospitals will think (I jumped around a few jobs in my first year before I found one I was happy with) but you have a contract. Here’s something you might not think about but is just as important. You’re over state lines, you might be paying out of state tax, might be working in a state that has income tax and your state doesn’t, or realistically, all you’re going to see is about $14000 of those 20. A year of service is really not much, you’ll be much more marketable after this year. I know I sound trite but it’s sound advice that almost everyone will tell you.