Loan Repayment for Serving in Medically Underserved Area ?

pedspnp · Feb 16, 2012

hi, i am planning to do an online fnp profram and will work in a medically underserved area. i am trying to decide if i should take a chance on the more expensive private universities that require less travel and provide more assistance, or stick with less expensive but more-effort options.
can anyone tell me how much money they were eligible for in loan repayment when they signed on to work in a medically underserved area?
how is the amount of loan repayment determined?

nhsc.hrsa.gov here is the link you need to go to. i applied twice before getting funding. i received 60,000.00 in loan payback in exchange for partime for 4 years. hope this helps.

myelin · Feb 16, 2012

If you don't mind answering, pedspnp, why did you have to apply twice? Is it very competitive to get these kinds of positions?

Dixiecup · Feb 17, 2012

Hi, I am planning to do an online FNP profram and will work in a medically underserved area. I am trying to decide if I should take a chance on the more expensive private universities that require less travel and provide more assistance, or stick with less expensive but more-effort options.
Can anyone tell me how much money they were eligible for in loan repayment when they signed on to work in a medically underserved area?
How is the amount of loan repayment determined?

I owe $120,000 in loans. I get $60,000 for two years full time service. $60,000 more for the next two years. I will work at this facility forever anyway I love it and make good money. I am currently applying for the 3rd time but I am told I will eventually get it. The amount you get is not based on anything. everyone gets the same amount. I don't know why it takes some people more than one application for it to go through but I know several people who had to apply 2-3 times so I'm not worried yet!

pedspnp · Feb 17, 2012

There is a set amount of funds each year, not everyone who applies will get awarded funding. It depends on the site score where you are working the higher the score the more chance you have of getting funded.

redwoodcoastrn · Feb 17, 2012

Thank so much for the answer, link, and detailed discussion! I live in a rural high-poverty area and just about every employer around her qualified for the loan repayment program I got for my BSN. Now I know working in practices with the highest score will give me the best shot sooner than later, and that the amount covers even the more expensive options.

Muchas Gracias.

allnurses Guide · Feb 18, 2012

I worked for 2 years in an underserved area in return for $50,000 (I was given the award in 2009-the $ has gone up since then). I have also heard that it is more difficult to get funding now, and only the highest scoring sites are being considered.

Good luck!

angel549 · Feb 18, 2012

I considered this until I read they will NOT pay back co-signed loans. My husband co-signed on most of my Wells Fargo private loans. So, it looks like it won't work for me.

redwoodcoastrn · Feb 18, 2012

Good to know. Thanks for the heads up.