Guest guest Posted June 13, 2012 Report Share Posted June 13, 2012 There have been many discussions here about this or similar, most of which did not have a happy ending. To give a loan to a student does not force them to work for you or repay it. Some of the previous responses I have seen and agree with are that the payment of the money should come at the end of the 2 years not up front. Reimbursing the student for that money becomes an incentive to stay. That still doesn't guarantee anything but at least if she leaves early and the contract that you sign is good (you must have an attorney involved in this process, for sure) then you will not be out the money. This is no different than a signing bonus and many of those these days are done the same way. A signing bonus is agreed upon but not paid until the term of service agreed upon is done or paid in graduated amounts as an incentive to stay. With the shortage of PT's and PTA's, students are taking advantage of the high need and facilities willing to do anything to hire. You can take the risk but chances are once school is finished, this person will go elsewhere and decide to pay you back if she has a shred of ethics or forget it and let you decide if you want to incur the legal fees to go after her. In either scenario, the big piece missing is an employee for your facility. M.Howell, P.T., M.P.T. IPTA Payment Specialist Meridian, Idaho thowell@... This email and any files transmitted with it may contain PRIVILEGED or CONFIDENTIAL information and may be read or used only by the intended recipient. If you are not the intended recipient of the email or any of its attachments, please be advised that you have received this email in error and that any use, dissemination, distribution, forwarding, printing or copying of this email or any attached files is strictly prohibited. If you have received this email in error, please immediately purge it and all attachments and notify the sender by reply email. From: PTManager [mailto:PTManager ] On Behalf Of G Sent: Wednesday, June 13, 2012 2:34 PM To: PTManager Subject: Student PT recruitment Checking to see what others are doing or have done on recruitment of furture PT still in school. We have been approached by a student that a has a year left of school about potential employement upon graduation. She has indicated she would like help paying for he final year of school, ~$5k, in which she would agree to work for our facility for 2 years. Has any one else done this or doing this? Are you paying in lump sum or a monthly stipend? Thanks for the input. Gwilliam, PT, MHA, CWS Director of Rehabilitation Bowie Memorial Hospital Bowie, Texas Quote Link to comment Share on other sites More sharing options...
Guest guest Posted June 13, 2012 Report Share Posted June 13, 2012 I am sure you have already thought of some of these issues; but, use a little caution with this. It could be a wonderful tool but can also turn into such a nightmare. - Will you have a need when student is ready to graduate - What if the student in their school rotations determines they want to go into a different type of practice - What if someone else offers them a job and agrees to pay off your loan.you may have passed on other people and get stuck in the end - Don't expect a lot of loyalty from the person you support with a school loan. Hopefully they will fulfill the commitment but too many skip - When you hire normally, you negotiate salary, etc. I assume this would be upfront with this student . what if they demand more. just unhappy times. Steve Passmore PT, MS Healthy Recruiting Tools spass@... Phone: Fax: " What We Did For You Yesterday Is History. What Can We Do For You Today " Recruiting Tools: Cold Calls ~ List Enhancement ~ Direct Mailers ~ Card Design ~ Recruiting Software From: PTManager [mailto:PTManager ] On Behalf Of G Sent: Wednesday, June 13, 2012 3:34 PM To: PTManager Subject: Student PT recruitment Checking to see what others are doing or have done on recruitment of furture PT still in school. We have been approached by a student that a has a year left of school about potential employement upon graduation. She has indicated she would like help paying for he final year of school, ~$5k, in which she would agree to work for our facility for 2 years. Has any one else done this or doing this? Are you paying in lump sum or a monthly stipend? Thanks for the input. Gwilliam, PT, MHA, CWS Director of Rehabilitation Bowie Memorial Hospital Bowie, Texas No virus found in this message. Checked by AVG - www.avg.com Version: 2012.0.2178 / Virus Database: 2433/5061 - Release Date: 06/10/12 Quote Link to comment Share on other sites More sharing options...
Guest guest Posted June 14, 2012 Report Share Posted June 14, 2012 We have done much more than 5K in the past with mixed results. I would guess that 85% of the time everything works out well, but just keep in mind that we have also lost much more than the 5K. It is very hard if not impossible to recoup any money given to a potential PT or anyone that you pay for future services (for 5K it would not be worth it to go after it, in my opinion). We now sign our contracts like this " after years of service " instead of up front, which has worked out much better. Jeff Nolder, MSPT, MHA Vice President of Clinical Services Cherokee Regional Medical Center ext 207 Quote Link to comment Share on other sites More sharing options...
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