NELRP is there a thread?

Chro31 · Sep 16, 2012

I came for DNP orientation in March and will be back April 10-11 for DNP Intensive. Was amazed at the size of the campus. Just incredible.

Wow! What a small world! Where r u fro

Again?

CTW61 · Sep 16, 2012

Arkansas

StaceeRN · Sep 17, 2012

Thank you so much, I am grateful for the information! I have couple of more questions for you if you don't mind!
1. Are you consolidating for the public service loan forgiveness? I have spent quite a bit of time this morning trying to figure it out.
2. Do we have to notify HRSA before consolidating or do we just do it.
I too am very grateful that we can talk as participants and I've got my fingers crossed for those who are still waiting!

1. Yes, I am going to consolidate my federal loans for the public service loan forgiveness, but I haven't started that process yet. I am in the process of consolidating my private loans now. It seems like it might be a little more complicated with the federal loans.

2. We don't have to notify HRSA before we consolidate, but I think we'll have to submit more info when it comes time to verify that all payments went towards eligible loans.

I thought I had a plan for payments all figured out, but now I'm not so sure. I have twice as much in federal loans than private loans, and I figured that over the 2 years I'll have just enough pay off the private loans with a little left to put towards federal loans. Now that I consolidated my private loans, the interest rate is significantly lower than my current federal rates. Granted I don't know what my rate will be after consolidation, but I have a feeling it will be twice that of the private loans, since they take the average of your current rates.

This is getting longer than I intended, but does anyone have any advice on this? ...Completely pay off the lower interest private loans or put a dent in the higher interest federal loans?

scabby21 · Sep 17, 2012

I am personally paying off my loans starting with the least amount first. I currently have 4 loans through 2 different places, 1 at one place and 3 at the other. If I start with the lowest amounts first I will be able to pay off two in the first 2 years of the contract. If I am lucky enough to get the 3rd year, I can pay off another. Which will leave me just one payment when this is all over with.

AddyRN · Sep 17, 2012

CaleyJo- Are all of your loans at the same interest rate? Obviously paying off the higher interest ones will save you more money in the long haul if you have some that are higher interest rates than others.

CTW61 · Sep 17, 2012

Any new signatures or status changes or emails today for anyone? Praying for all who are waiting!

AddyRN · Sep 17, 2012

Nothing yet CTW... do they send out emails everyday or only certain days?

scabby21 · Sep 17, 2012

My interest rates are a little bit lower on the loans i owe less, but not much. I know that if i paid towards the loan that has the highest interest rate i would not be able to pay off all of it within the 2 years so I would still be stuck with paying 4 seperate payments everymonth which is about 1/3 of my paycheck.

AddyRN · Sep 17, 2012

CaleyJo- I understand how you want to just have one payment ... that would be much more convenient.

However, say for instance you have $20,000 at an interest rate of 6% then you have a $1,000 loan at 5%

If you put your loan reimbursement toward that $20,000 loan for just one year, vs. the $1,000 loan- you'll be saving a lot of money in the long-run.

CTW61 · Sep 17, 2012

Nothing yet CTW... do they send out emails everyday or only certain days?

The last time I called, the rep said they send out every day. Still saying prayers for everyone! Looking for final email myself...

janisleigh · Sep 17, 2012

CaleyJo,

Why not consolidate into a direct loan, then you only have one payment any way. And you can start the clock on loan forgiveness in the event you don't get them all paid off in 10 years, or the new bill goes thru and lowers the forgiveness wait time to 5 years.

Jimador · Sep 17, 2012

Still waiting on the first email for my wife's application....and I am starting to think that it isn't coming. It would be nice if they just released them on one day unless of slowly letting them trickle out.