HRSA Nurse Corps Scholarship 2020-2021

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I havent seen a thread yet on this year's nurse corps application cycle & my anxiety has made me start one. I'm finishing up my application and should be done with it by today. I know its extremely competitive so honestly I dont think I'll get it but its worth a try! Who else has applied/is applying?

1 hour ago, TreeofSmoke said:

Thank you for that information...So in order to get the most out of the Scholarship you have to go to a really cheap school... If your school is around $75,000 a year you have to pay so much in taxes...would it be more beneficial to take out a loan?

The tuition is covered no matter if it's $6,000 or $20,000 a semester, first and foremost. The recipient pays no taxes on that - what would be taxed would be the monthly cash stipend of $1400 and change. I have 4 children and I'm single so actually I barely get taxed. . .but depending on your situation there would be taxes coming out of that and that only - not your award as a total. Scholarships aren't taxable as far as I understand. I go to a cheap school (Rutgers) considering, and I only have two more semesters, but if I get it, It will be WELL worth the 2 year agreement.

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1 hour ago, TreeofSmoke said:

Thank you for that information...So in order to get the most out of the Scholarship you have to go to a really cheap school... If your school is around $75,000 a year you have to pay so much in taxes...would it be more beneficial to take out a loan?

That’s a personal choice. I would think though that the scholarship would be more beneficial than taking out a loan that you have to pay back with interest. You might have higher taxes owed, but you’re also essentially getting paid to go to school. It depends on your situation, but I’d say for most people the scholarship is better than taking out $75k in loans.

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I appreciate your advise...I think the scholarship has lots of benefits to it, I’m just worried about having to pay money to the IRS at the end of year particularly since I’m not working ;/

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I think a lot of us won’t be working during our programs! Owing money in taxes will likely be a lot less than the cost of school plus the stipend. Think of it like winning the lottery or a prize on reality TV. Yes you will have to pay tax but isn’t it still worth the prize? That’s just my opinion at least maybe you will reconsider ?

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1 hour ago, Specialscar said:

The tuition is covered no matter if it's $6,000 or $20,000 a semester, first and foremost. The recipient pays no taxes on that - what would be taxed would be the monthly cash stipend of $1400 and change. I have 4 children and I'm single so actually I barely get taxed. . .but depending on your situation there would be taxes coming out of that and that only - not your award as a total. Scholarships aren't taxable as far as I understand. I go to a cheap school (Rutgers) considering, and I only have two more semesters, but if I get it, It will be WELL worth the 2 year agreement.

The tuition is taxed not just the stipend. It says it in the guidelines on page 13. It also says that the federal taxes are withheld so I’m assuming they’re withheld upfront and that it’s the state ones that will be owed. I think it’s definitely still worth it. Only other thing I keep thinking about is health insurance and not qualifying for a subsidy since this “income” for me will be over the limit. I called healthcare marketplace and they said it has to count as income for them too.

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10 hours ago, amleigh said:

The tuition is taxed not just the stipend. It says it in the guidelines on page 13. It also says that the federal taxes are withheld so I’m assuming they’re withheld upfront and that it’s the state ones that will be owed. I think it’s definitely still worth it. Only other thing I keep thinking about is health insurance and not qualifying for a subsidy since this “income” for me will be over the limit. I called healthcare marketplace and they said it has to count as income for them too.

oh! I re-read it, you're absolutely right! In certain cases it will actually help, such again as mine - I will actually have income to claim to receive earned income credits! If you're single without children, working, and attending an expensive school, yeah, you'll owe. I'm pretty sure they give you the stipend to deter you from working, though. Also, I'm sure taxes are much less then tuition if you're attending somewhere very expensive. I'm personally going to try again for my doctorate at Georgetown.

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On 8/3/2020 at 2:25 PM, Emily Ramirez said:

Thank you for answering quick! I have my bachelors but not in nursing. I have a bachelors in health management that I obtain last year in December. So this will be my second bachelors degree. My EFC is 0. I do not qualify for FAFSA. I’m a mom to 3 kids all under 5 years old and my youngest is 5 months. I just don’t know what to do! ? I have no choice but to apply for a federal loan and private loan. I start nursing school in 13 days. If I didn’t get it.... then I would like to know NOW so I can put my anticipation to rest. I feel like it’s a lottery application. Does anyone think so?

Why don’t you qualify for FAFSA?

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Because this will be my second bachelors.

2 hours ago, ShellztheNP said:

Why don’t you qualify for FAFSA?

Because this will be my second bachelors

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3 minutes ago, Emily Ramirez said:

Because this will be my second bachelors.

Because this will be my second bachelors

You still qualify. It’s my second bachelors and I still qualified for a federal loan. The exception is if you have already taken out the full allowable undergraduate amount for the first one. Fortunately I didn’t, but I understand that many have.

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7 minutes ago, amleigh said:

You still qualify. It’s my second bachelors and I still qualified for a federal loan. The exception is if you have already taken out the full allowable undergraduate amount for the first one. Fortunately I didn’t, but I understand that many have.

I second this. This will be my second Bachelors and I received a federal loan

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1 hour ago, ErikaBJCnurse said:

I second this. This will be my second Bachelors and I received a federal loan

Right anyone with a second anything can still be eligible for federal loan and/or private loan. Any one with dependents are eligible up to $12,500 a year until they exhaust the full amount which is $57450 (close to that amount) Or anyone without dependents is allowed up to 6500 a year (close to that amount). I’m guessing FAFSA is both free money and loan.... Now what I’m talking about is the free money portion of FAFSA that I am not qualified for because it is my second bachelors. So I have no choice but to accept the $12,500 per year and apply for a private loan. I don’t want any loan- federal nor private. That’s why I’m hoping to get scholarship.

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12 minutes ago, Emily Ramirez said:

Right anyone with a second anything can still be eligible for federal loan and/or private loan. Any one with dependents are eligible up to $12,500 a year until they exhaust the full amount which is $57450 (close to that amount) Or anyone without dependents is allowed up to 6500 a year (close to that amount). I’m guessing FAFSA is both free money and loan.... Now what I’m talking about is the free money portion of FAFSA that I am not qualified for because it is my second bachelors. So I have no choice but to accept the $12,500 per year and apply for a private loan. I don’t want any loan- federal nor private. That’s why I’m hoping to get Scholarship.

Got it, I’ve never been eligible for the free money part even when I had no income and was not anyone’s dependent so I don’t know how that works. Good luck!

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