NELRP is there a thread?

Nurses General Nursing

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Is there already a thread for RNs waiting to hear about awards from the Nursing Education Loan Repayment Program?

When I search, I can only find previous year's threads.

https://www.benefits.gov/benefit/449

Hello silvermoondust45,

So that means no private loans will be forgiven? I too received a rejection email last night. If this is true, I have a good idea why I was not eligible this year for the loan repayment program. I feel like they did not make this clear. Is this link that you gave applicable to the NERLP program as well?

Also, should I consolidate my federal loans? I have 2 batches of federal loans that will be coming into repayment soon.

Thanks,

Lisa

Private loans ARE eligible per the NELRP website.

I got confused on the private loans and the public service loan forgiveness. This is why I am afraid to consolidate because I can't understand all the instructions! Sorry for the confusion. But do visit the link above as they have lots of information related to the public forgiveness rules.

I hope that you call them and ask for specifics because it really doesn't make any sense that you were not accepted.

Are you saying private loans are not included in nelrp? Our are you talking about something different?

Private loans are accepted in the nelrp forgiveness program. I understand they have to be consolidated for the 10 year public service forgiveness program. Go to the link I posted, they have lots of information on the public service and lowering payments through something called IBR. They also offer webinars.

I think that may have been a typo. I have plenty of private loans that were all included in my award. Silvermoondust, could you clarify that statement? I'm a little confused as well.

You are right!

I feel terrible for those who were not awarded. I'm trying to think of reasons why some people have such high debt/income ratios and weren't awarded... consolidating loans after submitting application, not enough documentation of previously consolidated loans, submitting loans that were not directly related to nursing education, employer is for-profit, HPSA score has changed and is lower than what is stated on the website. I guess there are a lot of possibilities, but I hope you all are able to figure out what went wrong and receive the award next year. Good luck to you all!

I was also under the impression that private loans that were taken out & directly distributed to my college for my BSN are eligible for the NELRP; if not, I have my answer as to why I didn't receive an award. I'm going to e-mail them to be certain or else I'm wastin gmy time filling this out next year. Also, if they aren't eligible, is anyone aware of any forgiveness program where private loans are eligible?

and not that my opinion matters, but why would private loans not be eligible? I could not have gone to nursing school without one, because I simply was not awarded enough federal loans (although I have a few of those too).

They are eligible, sorry for the confusion. I got confused between the two program details which is why I should not post anything!!! I hope you get an answer as to what the problem is. Best of luck to you:)

Talk to your loan servicer about consolidation. If they don't offer consolidation, look around for another servicer. I consolidated my private loans and got a much lower interest rate and the loan term was extended to 20 years, even though I didn't ask (nor want) the term extended. My payment is now almost half of what it was before. Be aware that if your loan term is extended that you will pay a lot more in the long term because of interest. I looked around a bit before I consolidated and considered different options. I'd be willing to share advice and options that I found if anyone is interested.

Talk to your loan servicer about consolidation. If they don't offer consolidation, look around for another servicer. I consolidated my private loans and got a much lower interest rate and the loan term was extended to 20 years, even though I didn't ask (nor want) the term extended. My payment is now almost half of what it was before. Be aware that if your loan term is extended that you will pay a lot more in the long term because of interest. I looked around a bit before I consolidated and considered different options. I'd be willing to share advice and options that I found if anyone is interested.

This was in response to im4yanks.

Private loans are accepted in the nelrp forgiveness program. I understand they have to be consolidated for the 10 year public service forgiveness program. Go to the link I posted, they have lots of information on the public service and lowering payments through something called IBR. They also offer webinars.

Federal loans do not have to be consolidated to be eligible for the public service forgiveness. They do, however, have to be Federal Direct loans. For instance, of my 10 federal loans, only 2 are Direct loans. The payments I have made on those go towards the 10 years of payments before forgiveness. If I want my non-Direct federal loans to qualify, I have to consolidate them into a Direct loan and then the 10 years of payments will begin.

Hello silvermoondust45,

So that means no private loans will be forgiven? I too received a rejection email last night. If this is true, I have a good idea why I was not eligible this year for the loan repayment program. I feel like they did not make this clear. Is this link that you gave applicable to the NERLP program as well?

Also, should I consolidate my federal loans? I have 2 batches of federal loans that will be coming into repayment soon.

Thanks,

Lisa

Speaking from experience, I would recommend consolidating federal loans before you enter repayment, especially if you have some that are Direct loans and some that are not. This will give you the advantage of making all of your payments eligible towards the public service forgiveness. Be sure to choose a repayment plan that is eligible, such as IBR or ICR. They also require that you work for a nonprofit organization.

This website is very helpful:

Public Service Loan Forgiveness | Federal Student Aid

Speaking from experience, I would recommend consolidating federal loans before you enter repayment, especially if you have some that are Direct loans and some that are not. This will give you the advantage of making all of your payments eligible towards the public service forgiveness. Be sure to choose a repayment plan that is eligible, such as IBR or ICR. They also require that you work for a nonprofit organization.

This website is very helpful:

Public Service Loan Forgiveness | Federal Student Aid

StaceeRN, I am SO confused and I feel so bad for posting incorrect information:( I tried to sign up and consolidate with Direct Loans but I read that you have to be in a 10 year repayment plan. However, when I try to do that it automatically puts me in a 25 year repayment plan. Is there a trick to this? None of my loans are Direct at this time.

Hello Everyone,

So I just wanted to clarify. Private loans are considered in the NERLP program? I have two private loans, one from Wells and one from Sallie that account for about 40% of all my loans. I think I'm owe nearly 3 times what I make in a year, a little bit short. I work in a hospital that has an HPSA score of 13. Haven't consolidated any loans, submitted well before the deadline, employer is Denver Health (not for profit). I have not seen my application even go under review, went from submitted to not selected. Do you think calling them to ask would help me understand?

Thanks,

Lisa

Hello Everyone,

So I just wanted to clarify. Private loans are considered in the NERLP program? I have two private loans, one from Wells and one from Sallie that account for about 40% of all my loans. I think I'm owe nearly 3 times what I make in a year, a little bit short. I work in a hospital that has an HPSA score of 13. Haven't consolidated any loans, submitted well before the deadline, employer is Denver Health (not for profit). I have not seen my application even go under review, went from submitted to not selected. Do you think calling them to ask would help me understand?

Thanks,

Lisa

Call them Monday! Ask them what is the exact reason you were not selected.

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