Grant offer....Would you take it?

  • Posted by a hidden member.
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    Dec 23, 2008 11:13 AM GMT
    I was offered a Department of Education Grant. The grant will pay for 100% tuition for four years, three summers, and one internship. I will also receive 12K a year in stipend. This is a great scholarship. The only catch is that I will be on contract to work in pediatric audiology two years for every one year the grant is given. If not, I am expected to pay back partially or in full the grant without out deference.

    That means for eight years I would be in pediatrics after I'm done. I would be 40 when I decide what I can really do with audiology. I know right now my goal is to work in the Universal Hearing Newborn Screening program, but I don't want to be tied. The money is in old people (no offense).

    Would you accept it?
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    Dec 23, 2008 3:22 PM GMT
    I think that it sounds like a great opportunity! Giving 8 years of your life to ped's sounds like a low price to pay for 4 years of education. Plus you may find that it takes you on a course that you didn't even know about.
  • Timbales

    Posts: 13993

    Dec 23, 2008 3:32 PM GMT
    Yes, you would be tied, but you'd graduate with no financed tuition and could be accumulating money for a private practice once you turn 40 and are free to do what you want. You'd have approx 3 times more to do what you want versus what you are committed to. Sounds like a great deal to me.
  • cowboyathlete

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    Dec 23, 2008 3:48 PM GMT
    Go for it. I am paying dearly for taking out too many student loans.
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    Dec 23, 2008 3:49 PM GMT
    accept
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    Dec 23, 2008 3:53 PM GMT
    Sounds like you can buy back the loan early if you make enough money? BTW, I suppose you're right about the money being in old folks; I wear 2 hearing aids myself, from noise exposure in the Army.

    I used to make similar offers to medical students through the Army ROTC program, mostly MDs & RNs. They had roughly the same payback obligation, except it had to be on Active Duty with the Army, of course, at the pay of an Officer (plus the docs might get a special professional bonus payment). Plus none of them could shorten their contractual obligation as apparently you can.

    The decision process those students went through was likely similar to what you must do: can you complete your professional program on your own? If you did, what would your career prospects be right out of school? Would the contract work ensure your immediate employment for adequate pay? Would the nature of your obligation help your later career or hinder it?

    Those are questions I can't answer within your chosen field, and within the locale where you might want to practice. But I think it can have value for the right person. It's not a trap or a trick, these programs are worthwhile, IF they satisfy what YOU want from them.
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    Dec 23, 2008 3:53 PM GMT
    debussy81 saidI was offered a Department of Education Grant. The grant will pay for 100% tuition for four years, three summers, and one internship. I will also receive 12K a year in stipend. This is a great scholarship. The only catch is that I will be on contract to work in pediatric audiology two years for every one year the grant is given. If not, I am expected to pay back partially or in full the grant without out deference.

    That means for eight years I would be in pediatrics after I'm done. I would be 40 when I decide what I can really do with audiology. I know right now my goal is to work in the Universal Hearing Newborn Screening program, but I don't want to be tied. The money is in old people (no offense).

    Would you accept it?


    Yes I would. What the recent financial crises has exposed about our society is that too many people are overloaded with debt. You don't want to spend a good part of your earning years paying off student loans.

    More money might be in old people, but you may find working with infants more rewarding. Working with old people is not for everyone.
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    Dec 23, 2008 3:53 PM GMT
    Whether you decide to or not, that's not for me to say/suggest. However, I would HIGHLY suggest to seriously consider the offer. Mainly for the fact that although 8 years of an obligation to be debt free when you're finished is a great opportunity and something that not a lot of people are offered. However, you know your goals and where you want to go and if this does not take you towards the path then don't, just make sure you weight out ALL of the options. You may want to speak with individuals in the field you want to enter and see how they feel about that grant and what it could mean to you and your career.

    Good luck and CONGRATS!!!!
  • ueatzit

    Posts: 174

    Dec 23, 2008 3:56 PM GMT
    debussy81 saidI was offered a Department of Education Grant. The grant will pay for 100% tuition for four years, three summers, and one internship. I will also receive 12K a year in stipend. This is a great scholarship. The only catch is that I will be on contract to work in pediatric audiology two years for every one year the grant is given. If not, I am expected to pay back partially or in full the grant without out deference.

    That means for eight years I would be in pediatrics after I'm done. I would be 40 when I decide what I can really do with audiology. I know right now my goal is to work in the Universal Hearing Newborn Screening program, but I don't want to be tied. The money is in old people (no offense).

    Would you accept it?


    Yes! Well...okay let me temper that recommendation with a what if...

    What if you're in pediatric audiology for two years and you must serve 6, could you reasonably make ends meet and pay back the balance using your salary working in another position? In the larger scheme of things it would be worth it no?

    Also, are you guaranteed a position when you graduate with a placement in pediatric audiology? (Is that the UHNS?)
  • Posted by a hidden member.
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    Dec 23, 2008 4:01 PM GMT
    I say take it. You can always change your mind later. In fact, you already know the pros and cons with this opportunity so what do you truly have to lose? Also, have you thought about how your professional interests (pediatrics vs. elders) may change while you're in school? Opportunities like these are few and far between in the U.S. Take advantage of it while it exists. And by all means, know that whatever you decide, you will be supported either way. icon_smile.gif



  • Posted by a hidden member.
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    Dec 23, 2008 4:02 PM GMT
    I can't advise you to your goals, but you do note the financial implications of working with children versus older patients.

    If I was in your shoes, I would project my income for both options for 8 years after med school, including expenses and planned expenses - make sure to include school loan repayments for the option not including the grant in addition to housing, food, vacations, and retirement savings.

    Then look at your debt-to-income and the amount projected in your personal savings at the end of the 8 years.

    I'd also consider your passion. There may be money in the elderly, but if you can't get up every day excited about helping your patients - is the cash worth it?
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    Dec 23, 2008 4:42 PM GMT
    Almost anything is negotiable. You would truly be surprised. If you don't feel right about an eight year commitment negotiate 6 or even 4. I would be willing to be you can find a compromise.
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    Dec 23, 2008 4:45 PM GMT
    yes, take it. Plus my sister worked in pediatric audiology and loved it. Yes it gets sad sometimes when the little ones go deaf, but for the most part kids are so damn cute. I went to work with her a couple times just so that I could go "awwwwwwwwwwwww" for 5 hrs. straight.
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    Dec 23, 2008 4:48 PM GMT
    Ugh, wanna trade? I have 7 days to complete a grant app for a irrigation well and don't know what the hell I'm doing. They have workshops for this crap! wahh


    You should take it, then win the lottery and pay it back and get a BMW and get a nice reserved parking spot where birds won't shit on your new car.
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    Dec 23, 2008 5:03 PM GMT
    I am not sure if getting this grant does anything for you other than give you money. But, if there is no real prestige attached I would figure it out by adding up how much they will give you in total and compare that to how much you would make if you were working in your chosen field of audiology.

    No matter what you do, congrats!

  • Dec 23, 2008 5:27 PM GMT
    I wouldn't take it.....................


    There are way too many grants/scholarships out there. If you have the slightest thought that you shouldn't take it, then you shouldn't.
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    Dec 23, 2008 5:58 PM GMT
    Zombie is right to compare and contrast especially since you seem to be dreading working in peds audiology.

    I don't know much about science grants but in the humanities they just give us money and then ask us write an article for publication within 12 months.