NELRP 2011 awardees

Nurses General Nursing

Published

So, I decided to start the thread as Strider suggested. Great idea :up:;) for us awardees to start talking. I have read that the way we get further taxed is that this now becomes a part of our reported taxable income when we file taxes, so thats how we are taxed twice unfortunately.

http://www.whatsthecost.com/snowball.aspx

this website offers you the option to plug in your loan balances, payment amounts, interest rates, and how much monthly you will be applying to the loans listed. you then have the option to decide if you want to pay them off by interest rates or balances. i did this and it was best for me to do it by interest rates. it will then download onto a spread sheet or what they call a csv. this spreadsheet tells you how much to apply to each loan and how long it will take you to be debt free. mine is 41 months im pumped. make sure you change the currency on the left side from canadian to american....

let me know if you find it helpful.

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Specializes in Medical/Telemetry. Now ICU.

Can anyone please explain what this award is for?? I've asked 2 other times and no one can seem to answer me. thanks

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Specializes in ICU, Neuro ICU/Stroke, PCU, Med-Surg,etc.

Roobie - please type in nelrp 2011 on your search on this website. This blog is for awardees to the nelrp 2011 program. you can google it and find out all the information you need. the nurses on this blog have won a federally funded award program to those who have significant financial aid debt. thanks!

JMedina - I owe 16 grand, almost 17 on my lowest loan, which the payment monthly is 104 bucks montly; my highest SallieMae loan is approximately 70 grand. And my montly payment is right under 500. I thought almost everyone who was awarded had just as much debt as me...if not more! You are lucky! Seems to me you and your wife don't have as much debt as me, so I can understand why you would apply your award to your loans as you do. But I think I may try goingcrazyhere's website and see what works best for me! What was your percentage/annual ratio? And is this yours or your wife's loans you're speaking of? My goal, besides not paying anything toward my loans for the next two to three years, IS definitely utilizing this award toward my loans in THE MOST BENEFICIAL WAY POSSIBLE!! And that includes interest. But to be honest, I'm gonna have to look into my interest rates and all those nitty gritty facts again cause I don't remember what they are and if they are fixed/variable, etc....But I'll totally post what we'll do when we find out!! I am really thankful you posted about the biweekly payments though cause that's a really neat fact I wasn't aware of!! Have you been paying your loans biweekly!? I've been missin out on free payments it seems. Thanks!

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Specializes in ICU, Neuro ICU/Stroke, PCU, Med-Surg,etc.

I guess my "h" letter wasn't working well...I really do know how to type monthly!!! hee hee

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Has anyone received actual money yet?? Its hard waiting the next few weeks for cash. My loans are so massive $140K that it seems more economical to pay my higher interest rate loans first because I'll be paying more in the long run for those.

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I think I'm going pay my lowest loan first to get rid of that loan payment altogether so that I can use the money from that loan and put it toward my bigger loans. I'm still going to pay what I'm normally paying myself to get more paid off faster, since I will still be responsible for 60% of my loans after my 2 years of the NELRP money. I'd really just like to get rid of my debt as fast as possible!

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Specializes in ICU, Neuro ICU/Stroke, PCU, Med-Surg,etc.

Hey JMedina, my bright self just thought of something though about the biweekly payments...the NELRP program is only giving us monthly payments...12 to be exact. So for those few extra weeks, we will have to come out of pocket right? or split it up differently? Just thinkin...

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Hey everyone! I was just wondering what the said timeline was for receiving our first deposit. I cant remember from the previous blog and did not want to go back through all of the blogs to try to figure it out. Let me know your thoughts!

Thanks!

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Hola everyone!, 2010 blogs showed deposits beginning on or about sept. 22nd, hang in there. As far as your payments go you would pay the minimum payment which is your regular payment on the day its due then find out when the billing cycle closes and one or 2 days before pay the rest of the NELRP payment, I am sure the NELRP payment is not what your payment is required from your loan servicer. For example if my payment was 208 a month due on the 12th then because Sept 12 is gone when check comes in on the 22nd or so (I hope) so on Oct 12 I will pay my regular 200 dollar payment and on the 28th pay the difference of that from what NELRP gives me 1400, so 1200 will go at end of month, which then I will get another direct deposit from NELRP and then on Nov 12 I will pay half of the NELRP payment in this case 700 dollars and on NOv 28th pay the rest of the 700 dollars etc..etc...etc....nothing comes out of your pocket.....just saying.

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Specializes in Medical/Telemetry. Now ICU.

Oh. I had 64 K in student loans. I didn't get any award. lol. oh well, it's all paid off :)

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Specializes in ICU, Neuro ICU/Stroke, PCU, Med-Surg,etc.

No I understand completely how you're saying to do it. I just was a little confused because NELRP is only giving us monthly payments, not biweekly...? I dunno, it's all good though. I am officially waiting anxiously for money in the bank! Come on big money, big money.....no whammies, stop! he he he....but seriously I sure hope the 22nd doesn't come and go without a deposit cause I think I'll start freakin out a little again

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Specializes in Medical/Telemetry. Now ICU.

Why are you guys all freaking out about free money? lol.

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