What should I ask for in a private practice contract?

[fmu16]

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Hello!

I need some advice. I will be starting optometry school this August. The owner of a private practice near my hometown that I interned in has offered to pay for my optometry school if I sign a contract to come back and work for him after graduation for at least 8 years and work to pay the loan off. He has asked me to come up with a salary, benefits, etc. that I would like to ask for to discuss with him but I have no idea what to ask for! Does anyone have any insight on what I should ask for in a situation like this?

Thanks!

 

[KHE]

That is a Faustian bargain. There is no way you will be able to predict economic or political conditions 4, 8 or 12 years from now.

Your best bet would be to take out the loans, get through school and have him help you pay off the loans when you're done. But don't sign yourself up to what essentially amounts to a slavery contract.

 

[gwarm01]

The deal sounded pretty sweet until you had to pay him back.

 

[310]

Don't do it. You could possibly refinance your loans when you get out.


Sent from my iPhone using Tapatalk

 

[SunA21]

This sounds a little fishy to me, mostly because the owner probably knows you don't have the business experience to know what to ask for, so you'll aim lower than you need to. If i were in your situation, my first questions to him would be what kind of interest rate he would charge you on the loans and how your monthly loan payments to him would be decided. I would want legal advice before signing any kind of contract with him.

 

[generallyspeaking]

Skip it