to use employee benefit or not?

Ok, so I'm not sure if I'm asking for help or if I'm just thinking out loud...but I have 7 days to decide if I'm plunking down $100 on a program to hold my admission, so I need to work this out on paper. The fly in my process is that I have $1200 in an employee benefit that I can use, and the frugal side of me is trying to decide if I should take it.

Got hired yesterday at a local hospital. (yeah) A benefit effective immediately is that I can take any prereq or any RA class that prepares me for a job in the hospital or any program offered by the hospital's college. Sounds good, but it's weak. It's only $1200 per year, requires a "C" grade or repayment with penalty, and 1 year service for each year compensated. In addition, special BSN (bachelor of science in nursing) bonus program, anyone with an RN can get $5500 per year toward completion of any RA BSN program. Tons of programs fit that criteria and are online. I'm leaning strongly toward earning a BSN, I have taken everything possible except the actual nursing courses. NP programs that I'm interested in require 1 year RN work, so that's going to happen no matter what. There is that little guy in the back of my head telling me to try for med school. So what if I don't get in?? Why not try? Well, the cost of trying is the time lost that I could pursue a NP degree. I'm 40. HOWEVER, I've still got obligations at home with young kids, so in reality, I wouldn't even consider a full time activity away from the house for a few more years.

Option A: take 1200 toward CC associate degree nursing (ADN) out of pocket ~2000 per year. Classes 1 day per week on campus, rest online. 2 years then TESC's BSN online for 1.5 years- fully paid. Total cost to me: $4000, total length of time: 4 years
Service obligation: 4 years as an RN which delays NP program progress by -3 years due to clinical restrictions. Enter into practice ~10 years!

Option B: take 1200 toward hospital's BSN (the 5500 is for current RNs only) but out of pocket would be ~35,000. Classes 4 days per week and online. Total cost to me: $35,000, total length of time: 15 months. Service obligation: 1 year, move directly into NP program. Enter into practice ~5 years *big down side, forces me to be on campus about 30 hours per week plus online classes.

Option C: take 1200 toward my CC premed courses. Out of pocket ~5000 total remain. Service obligation 1 year, can be met in the gap year between applications and start date. Total cost to me: hurts to type the number. Length of time: 8 years. Enter into practice ~9 years.

It would actually be faster to become a doctor than a midwife in some cases....but, the final sticking point: I hold both acceptance letters for the CC and the accelerated BSN in my hand. No such promise for med school.

 

I would go for the BSN – NP route. As Steve said, med school is brutal with the time commitment. I had a friend that lost her marriage over it and she had no other commitments like children. Unless you want to specialize (dermatology, OB/GYN, cardiology, etc.), I would say the NP is better than an MD/DO ( general practitioner).

An NP has less liability (malpractice insurance), less students loans (greater ROI), less time to complete (in some cases), and more face time with the patient. That is just my opinion.

 

Writing down your thoughts is usually helpful when faced with choices.

Congratulations :You_Rock_Emoticon:


If the penalty is less than a student loan I would say take the compensation. If you don't like the job or find a better one you can always repay the money (sounds like most you would be liable for is $2,400 plus penalty). Have you looked into what the latest federal tax bill provides in tax credits and deductions?

 

Depends on what kind of MD you want to be.... FP and Peds don't pay a lot more that a NP in some states. I would get your quick ADN first. Then you can start practicing as an RN and decide on which BSN or NP program you want. You'll be making good money while you do the additional year of school while getting the practice.

BTW, your obligation to them can be bought out. So, say you get your ADN and want to go to BSN school and work at a different place... all they can hold you to is the cost they advance to you which would be ~ $2400. A couple of weeks of a RN salary. There are hospitals that don't require the years of service to get the educational benefit.

Denise

 

A PA treated me a few years ago but first I asked him what a PA was. He explained what it was, that he thought it preferable to a nursing career, and in California one qualifies thru CC courses and a state exam.

 

RNA, Registered Nurse Anesthetist = also a great career. Get the RN first, then move up!

 

people people people, I shocked that everyone doesn't follow each and every thread I write and then memorize my life's goals~ :nono: On the upside, at least you're all not sick of hearing about midwifery since obviously no one remembers me drolling on and on about it!:suspect: ... but my NP specialty would be in midwifery- I'd be a certified nurse midwife, and my MD certification would be as an OB-GYN. None of that matters though, because medical school has nothing to do with picking a specialty, that's for residency- and ADN/BSN has nothing to do with midwifery, just getting the RN.
CNMs dominate midlevel provider arena when we start getting into woman's health, and you PAs can't catch babies. Other NP/PA fields are not of interest to me. I've been a labor and postpartum doula for more than 10 years, pregnancy/childbirth/postpartum/lactation/childbirth education/ etc are my passion. Women's health less so but still ok. My new job is in labor and delivery I'm a grunt. No pun intended lol. If I couldn't work in one of those areas, I'd stay a chef.

 

I do remember now that you've brought it to my attention!

So, get your RN first - fast.... then move on. I wouldn't go the OBGYN way unless you REALLY think you'd be happier. I have several friends who are OBs and are getting out of medicine!

 

Once you become a midwife you should move down my way. We just opened up a birthing center back in March, and we're losing one of the two midwives...

-Matt

 

Yeah....... I won't even ask why, because that's just one problem birth centers face. Birth centers require tremendous effort to open (if you are in a state which allows it), but then most of them close (gosh, kinda like the restaurant industry lol) but it's because of lack of OB-GYN support. That's the answer- period. There is a cooperation as long as midwives stay in their "place" as employees of doctors. When a midwife opens a birth center, she is going off on her own, and that's not generally well received. I was involved in a birthcenter here, same story- but you can investigate birth centers and in 15 minutes you'd find this is the problem they all face. Without an OB, you have no hospital privilege, no access to surgery, no one to back your state requirements, malpractice insurance through the roof, and you do not get the same insurance reimbursement as doctors. Financially, they are on their own or take cash. This creates a bias against transport (transport=loss of income) which is dangerous for everyone. One death and you're done.

-I don't want to open a birth center, however, the MAIN reason I'd want to be an OB-GYN is to head my own midwifery centered practice. (hospital based) Assuming I could get through med school and residency with my heart intact, I think I'd be most happy in that role. While I'm fine being an employee, when the time comes that I know what I'm doing- I want to be the one making the decisions. Midwives are always the #2.