Learn About Tuition Reimbursement for Nursing with Bright Horizons
Learn About Tuition Reimbursement for Nursing with Bright Horizons
IMPROVE RETENTION WITH TUITION REIMBURSEMENT FOR NURSING
Nurses are among the most valuable resources in the healthcare industry – and one of the most scarce as well. Experts estimate that future shortages may reach as high as seven figures. With rising demand and high turnover rates, employers are seeking practical solutions to appeal to a talent population that has endless options for employment.
Tuition reimbursement for nursing is one of the most robust retention strategies for employers in healthcare. By enabling opportunities for additional training and career advancement, tuition reimbursement programs also allow employers to strategically build a more skilled and loyal workforce.
As a national leader in education management programs, Bright Horizons helps employers implement tuition reimbursement for nursing that appeal to talented job candidates and retain their best performers.
What is Tuition Reimbursement for Nursing?
What is tuition reimbursement for nursing?
What are the advantages of tuition reimbursement for nurses?
Tuition reimbursement programs for nurses
Creating the Perfect Tuition reimbursement programs for nurses
Hospitals in the world today face a unique challenge and that is the fact that nurses are in short supply. As the demand for nurses rises, employers struggle to fill the gaps available while simultaneously ensuring that their nurses have the necessary skills to deliver quality care. However, getting a proper nursing degree and license is not so easy as it seems and can be very expensive.
It is at this point that tuition management solutions come in. Tuition reimbursement programs for nurses are a special type of employer tuition reimbursement program designed for nurses and aims to solve employment issues on both ends. Under the program, nurses can pay for their college tuition in school from the purse of their employer. At the same time, hospitals can leverage the tuition assistance program to attract and retain quality nurses especially in places where there is high demand.
Developing employee tuition reimbursement programs can often be confusing and complicated and that is why we are here to help. Bright Horizons is one of the leading providers of tuition management solutions in the US with over 30 years of experience.
Importance of Tuition reimbursement programs for nurses
On average, nurses need up to $40,000 to get themselves a BSN certificate. That’s a huge amount of money that many RNs do not have. For this reason, many nurses prefer to stay where they are without reaching out for higher education. This has created a need for qualified nurses in many hospitals.
In 2010, research published by the Institute of Medicine recommended that around 80% of resident nurses (RNs) should be prepared for their Bachelors of Science degree in Nursing (BSN). Interestingly, in 2017, the BSN 10 law was passed in New York that made it compulsory for Resident nurses to have their BSN within 10 years of holding their RN license. At the moment, many states including New Jersey are already considering enacting similar laws.
Tuition reimbursement programs for nurses aim to bridge the employment crisis that exists for nurses in the health sector. Research according to the Cigna Corporation and Lumina Foundation shows that employer tuition assistance program for nurses carries immense benefits for employers. One of those and probably the most important is the attraction and retention of top talents in the health industry.
According to the study, about 60% of employers offer tuition reimbursement programs for employees. Interestingly, the study suggests that Cigna’s tuition management solutions offer the corporation up to 129% return on their investment.
Tuition reimbursement programs for nurses from Bright Horizons
As of today, over a thousand companies with millions of nurses across the world rely on Bright Horizons for tuition reimbursement programs for nurses. We have over 30 years of customer satisfaction and an unrivalled commitment to providing excellence to our name.
At Bright Horizons we provide tuition management solutions that support both nurses and their employers. While hospitals rely on Bright Horizons extensive expertise in the development and management of tuition reimbursement programs for nurses – nurses rely on us for excellence in employer tuition assistance program.
Bright Horizons robust services
Bright Horizons offer comprehensive and in-depth coverage of the following services for hospitals and nurses:
- Development of tuition reimbursement programs for nurses: One of the major services that we offer at Bright Horizons is helping hospitals create comprehensive development plans for their employee tuition reimbursement programs. This covers everything that the project entails including detailed financial analysis.
- Management of tuition reimbursement programs for nurses: We have worked with many hospitals that had no idea how tuition reimbursement programs for employees works. This is also part of Bright Horizons coverage. Our services cover all parts of the program including hiring, financial advisory and many more that deals with the process in its entirety.
How the lack of tuition management solutions affects nurses
Employee tuition reimbursement programs can also help nurse prevent paying off heavy student loans. It allows nurses to continue their education without getting stressed with financial burdens.
Many senior nurses in leading hospitals across the world agree that without employer tuition assistance programs, they might not be in the leading position that they are in today. Many nurses who have benefited from the scheme have gone from getting their BSN to even get their Masters degree and even more. Without employee tuition reimbursement programs, these amazing talents would have remained RNs all their lives.
Do nurses get tuition reimbursement?
If you work as a nurse in a hospital, the management of the medical facility might offer tuition reimbursement for employees. The program allows you to take classes online towards obtaining a degree or at a local college while your employer pays you for taking the classes.
How does the tuition reimbursement work?
Many hospitals offer their employer tuition reimbursement program as part of their benefits package. In the system, the nurse pays upfront for their nurse's college, graduate or post-graduate education classes. At the end of the semester, the employer refunds some part of the money spent or the full payment.
Tuition reimbursement companies
Bright Horizons is one of the leading providers of tuition reimbursement programs for nurses. The company offers 30+ years of successful services and thousands of satisfied customers.
Its core service includes handling everything from designs, work plans to managing tuition reimbursement. On the evaluation of your needs and budget, a proper plan and recommendation are relayed to you.