Are most home health agencies "for profit"?

  1. 0
    I was just wondering because my student loans can be discharged if I work for a non profit organization and I was wanting to know if any HH companies qualify.
  2. 6 Comments so far...

  3. 1
    My agency- and the majority of agencies in my area- are "not-for-profit", as are most hospitals here other than those owned by Corporate companies.

    What student loans do you have that can be "discharged" if you work for a non-profit? I have never heard of this and I paid for the majority of my education with student loans. Federal Perkins Loans can be canceled over a period of 5 years if you are working full-time as a nurse. Federal Nursing Loans can be canceled if you work in a "health professional shortage area". I am not aware of any cancellation options for private loans or Federal Stafford Loans. I have worked non-profit my entire career and am still paying student loans 6 years later...
    Altra likes this.
  4. 0
    If you have a direct loan, or consolidate your loans into the direct loan program, if you work for a non-profit agency in health care or other public service roles, if you make 120 on time payments (so 10 years of working ugh) you can have the rest of the loan discharged.
  5. 0
    I can't imagine even still having a balance on any of those loans after 10 years. I graduated college six years ago and the full balance of my Federal Stafford, Nursing and Perkins Loans have long been paid off. To make the minimum payment on them for 10 years only to have the remaining balance forgiven at that time would have hardly been worth it, as I would have ended up paying more in interest and most student loan repayment programs are designed to repay the loans over a period of 10 years. I don't anticipate having any student loan balance 10 years after graduation and this program honestly doesn't sound so worth it as to make employment decisions based on it. Not to mention, the first forgiveness under this program won't even be issued for another 4 + years and it's totally possible that the government can change this program at any time.
  6. 0
    Quote from KelRN215
    My agency- and the majority of agencies in my area- are "not-for-profit", as are most hospitals here other than those owned by Corporate companies.

    What student loans do you have that can be "discharged" if you work for a non-profit? I have never heard of this and I paid for the majority of my education with student loans. Federal Perkins Loans can be canceled over a period of 5 years if you are working full-time as a nurse. Federal Nursing Loans can be canceled if you work in a "health professional shortage area". I am not aware of any cancellation options for private loans or Federal Stafford Loans. I have worked non-profit my entire career and am still paying student loans 6 years later...
    Loan Repayment Program
    This has more info.
  7. 1
    Quote from lvn2bsoon
    Loan Repayment Program
    This has more info.
    That's not the program the OP was referring to. That is the exact program I was referring to when I said "Federal Nursing Loans can be canceled if you work in a health professional shortage area." There are very specific employers that you must work for to utilize this program. As the website says "In return, NURSE Corps members fulfilling a service obligation at any one of thousands of nonprofit hospitals, clinics and other facilities located in designated primary medical care or mental health Health Professional Shortage Areas across the U.S."

    You can search for employers that qualify here: Find Shortage Areas: HPSA by State & County

    There are ZERO hospitals or home health care agencies in my area that qualify, despite the vast majority of them being "non-profit".
    SuesquatchRN likes this.
  8. 0
    Most stand alone Home Health agencies are for profit, in my experience.


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