Navy repayment of Loans and GI Bill

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So i have 11 months of GI Bill left and 22 months of school left. I was wondering if i was going to run into a catch 22 when I go back in as a Nurse and request the loan repayment? What are your thoughts?

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Specializes in OB, Cardiac.
So i have 11 months of GI Bill left and 22 months of school left. I was wondering if i was going to run into a catch 22 when I go back in as a Nurse and request the loan repayment? What are your thoughts?

Are you saying that you're going to request the loan repayment that you get when you get commissioned? The $20,000 for 3 yrs & $30,000 for 4 yrs???? If that's the case then I'm doing the same thing as you. Only thing is I'm finishing my last semester & my GI Bill ran out the first wk of this last semester. I'm lucky it ran out when it did b/c they have a rule that if the GI Bill runs out during a semester then they will continue to pay you the rest til the semester's end. However, I don't get the kicker for the remaining months. My recruiter knows I get the GI & I'm still qualified to get the sign-on loan repayment bonus. I think you'll be fine. Nonetheless, talk to your recruiter just to make sure.

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I am going to request loan repayment, which the website said is currently up to $38,300 which is a little less than my tuition. I am kinda screwed w/the great get you through the last semester when your gi bill runs out. I am going to National and our longest class is two months, I don't know if they even put us on a semester system. I go to orientation next fri so hopefully I will learn alot then!

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Specializes in ER, Trauma, US Navy.

The GI Bill and the loan repayment program are 2 different things. If you are getting money for joining as a nurse, that should be a bonus not loan repayment per se. The loan repayment program, called HPLRP, is a program that you have to apply for and compete to get once you are active duty, you don't just request it. You have to meet certain stipulations to apply, my wife is waiting on the results of the most recent selection. That is unless there is another loan repayment program for new accessions, but I don't know of any.

LCDR Dan

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Dan,

This is what I am talking about, I have always assumed the loan repayment was an incentive to get people to join. Maybe I am wrong...

$25,000 WHEN YOU JOIN A sign-on bonus of up to $25,000 is available to all practicing nurses who qualify as Nurse Corps applicants. Talk to a Navy Officer Recruiter for details.

  • UP TO $38,300 TO REPAY STUDENT LOANS
    There's no reason to be overwhelmed by the cost of your education. As an Active Duty Officer in the Nurse Corps, you can get up to $38,300 to repay your nursing school loans.

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Specializes in OB, Cardiac.
I am going to request loan repayment, which the website said is currently up to $38,300 which is a little less than my tuition. I am kinda screwed w/the great get you through the last semester when your gi bill runs out. I am going to National and our longest class is two months, I don't know if they even put us on a semester system. I go to orientation next fri so hopefully I will learn alot then!

FYI- right now the sign on bonus is $30,000 for 4 yrs of service. The extra $8,000 is only offered once in a while when siging your contract. I asked my recruiter about it & she says they don't really try to tell ppl about the extra $8,000 b/c sometimes it's there & sometimes it's not. You're just lucky if you get it offered to you. Hopefully, we'll both get lucky & get that extra $8,000!!

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Specializes in ER, Trauma, US Navy.

Surr-

Right, the $25,000 or currently $30,000 is just for signing to go active duty. Then once you have completed your initial obligation (3 or 4 years), then you can apply to try and get loan repayment. My wife applied for it and we're waiting to hear if she was selected. Again, the loan repayment thing is not a done deal, you have to apply and compete. Different from the bonus which you get just for signing.

LCDR Dan

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Specializes in L& D, High Risk Antepartum.

LCDR Dan,

Through recruiting incentives now the nurses actually get both it is totally different then the loan repayment we can apply for on active duty.

ENS Allison

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Specializes in OB, Cardiac.

alright, so i talked to my recruiter to clear up my confusion of the the bonus/loan repayment. The sign-on bonus is $30,000/4yr right now. IF available (which if prob is no longer right now b/c it's way past the beginning of the fiscal yr) you can add on a loan repayment bonus to your sign-on bonus. Essentially, both will be combined. FOr the past 2 yrs it has combined to a total of $45,000 for 4-5 yrs. My recruiter says this combination of both has only been going on the past 2 yrs. Now, the catch is you're not in any way guaranteed the loan repayment part. You can request it w/ your package, which i intend to do, but that doesn't mean it will be there for the taking. If it's available at the right time for you then you luck out & get it. You don't have to compete or apply for it. It's just a first come, first serve deal.

Now, my recruiter made a point of saying that the bonus & loan repayment can change come the new fiscal yr. Bonuses & loan repayments change every yr & are rarely if ever are constant. She said I could potentially wait til the new fiscal yr to see if i can get a loan repayment on top of the bonus but it's never guaranteed what they will be offering. They could offer nothing & the bonuses could even decrease. Apparently, all the corps are given so much $$$ & it is up to them do figure out how they want to distribute it. THey can put much of it into recruitment or focus more of it on retention (it sounds like that's the loan repayment that LCDR Dan was talking about.).

So, the way I'm going to think about it is....yes, I get a killer sign-on bonus right now & just focus on that. Then, if I do get offered a loan repayment package I will be pleasantly surprised & that's just more loans I get to pay off. Don't get caught up on getting the loan repayment.....just ask it's available for the taking when your time comes. Either way, I'd still join the NNC w/o the bonuses!

PS-Always talk to your recruiter to get the most up to date info regarding this kinda stuff.

PSS----the NNC just made more spots available for those aspiring to get in for this fiscal yr. They had filled the spots faster than they expected but now there's more room to go to basic before Oct! :)

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Specializes in OB, Cardiac.
FYI- right now the sign on bonus is $30,000 for 4 yrs of service. The extra $8,000 is only offered once in a while when siging your contract. I asked my recruiter about it & she says they don't really try to tell ppl about the extra $8,000 b/c sometimes it's there & sometimes it's not. You're just lucky if you get it offered to you. Hopefully, we'll both get lucky & get that extra $8,000!!

sorry---- i meant to write $38,000 not $8000

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well I am barely starting my ABSN April 7th, so I haven't contacted a recruiter just yet! I think I am only going to have $30k in loans so as long as I get that much I will be REALLY happy!!!

Just a thought at how great I think the Navy is for me: If I get 30k and it pays off my loans, Navy money got me a AS in Accounting, BSBA in Finance, Medical Assistant Certificate, and BSN!!!!! Kick BUTT!!!

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Specializes in OB, Cardiac.
well I am barely starting my ABSN April 7th, so I haven't contacted a recruiter just yet! I think I am only going to have $30k in loans so as long as I get that much I will be REALLY happy!!!

Just a thought at how great I think the Navy is for me: If I get 30k and it pays off my loans, Navy money got me a AS in Accounting, BSBA in Finance, Medical Assistant Certificate, and BSN!!!!! Kick BUTT!!!

lol, ya the Navy is definitely a sweet deal! My husband & I have been living like royalty compared to the rest of our college friends b/c of the GI Bill. We both were able to buy brand new cars while in school & NOT working! :) Can't complain about that. Now, if I get in I'll get at least 30K!!! So, ya, I'm singing & dancing along w/ you!!!

My best friend is an accountant & is going OCS. He doesn't get a sign-on bonus & is really hating me right now b/c I do. I just told him it's b/c nurses are way cooler than accountants & the navy recognizes this! I think that comment just made him mad!:devil:

Good luck w/ nursing school!!!!!:yeah:

& i would still call a recruiter whenever i had any random Q. That's just me, I like to get my info straight.

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