NELRP is there a thread?

Chro31 · Sep 12, 2012

From everything that I have read about the 3rd year, it looks like the 25% is based off of whatever the orginal amount of the loans were when you started the program. So it shouldnt matter how you pay them off as long as you can spend all the money they give you to pay on your loans that third year. If not you will have to give back whatever money you do not spend.

I will not be able to completely pay them off by then .. I was wondering more along the lines of what criteria they use to award a third year? Is it a guarantee? Do people apply and not get them?

janisleigh · Sep 12, 2012

I refuse to start stressing about the third year until at least October!

janisleigh · Sep 12, 2012

I'm not paying any extra on my loans during the time I get this money. I am going to pay down other debt. after all, in ten years what ever is left can be forgiven, but no-one is going to forgive my mortgage. I still would like to know why this program is taxable and the other HRSA loan repayment is not? Who do you think can answer that? HRSA or the IRS?

scabby21 · Sep 12, 2012

I will not be able to completely pay them off by then .. I was wondering more along the lines of what criteria they use to award a third year? Is it a guarantee? Do people apply and not get them?

You can go to the HRSA website and print a copy of the 3rd year continuation contract. But basically it says (consistent with the initial NELRP contract, the Secretary and Particpant agree to amend the initial contract for a third year. All the conditions are the same. Subject to the availability of funds the secretary agrees to pay an amount equal to 25% of qualifying education loans which were unpaid on the effective date of the initial contract. )

So it sounds like if there is funding and you have done everything they ask you to throughout your first 2 years there should not be a problem in getting the continuation.

Chro31 · Sep 12, 2012

You can go to the HRSA website and print a copy of the 3rd year continuation contract. But basically it says (consistent with the initial NELRP contract, the Secretary and Particpant agree to amend the initial contract for a third year. All the conditions are the same. Subject to the availability of funds the secretary agrees to pay an amount equal to 25% of qualifying education loans which were unpaid on the effective date of the initial contract. )
So it sounds like if there is funding and you have done everything they ask you to throughout your first 2 years there should not be a problem in getting the continuation.

That sounds good to me..

CTW61 · Sep 12, 2012

35 days since email. No second signature so far today. Feeling blue. My co-worker hasn't received any email and her BCRS portal still says under review.

Chro31 · Sep 12, 2012

35 days since email. No second signature so far today. Feeling blue. My co-worker hasn't received any email and her BCRS portal still says under review.

Let us know as soon as u get second signature.

CTW61 · Sep 12, 2012

With checking behavior getting out of hand, I called the help line. Emily nicely and with good customer service tone of voice told me very nicely to keep checking my email until Septemebr 30th. That they rolled out email notices every day. No other information.

silvermoondust45 · Sep 12, 2012

35 days since email. No second signature so far today. Feeling blue. My co-worker hasn't received any email and her BCRS portal still says under review.

Have you been able to get any information lately from the call center? I feel so bad for you having to stress, I know how I felt. Don't give up though, they stressed they are really behind. Praying for you:up:

CTW61 · Sep 12, 2012

Thank you SIlvermoondust45!

Have you been able to get any information lately from the call center? I feel so bad for you having to stress, I know how I felt. Don't give up though, they stressed they are really behind. Praying for you:up:

silvermoondust45 · Sep 12, 2012

I recieved my second signature on 9/10/12 and my email and intro 9/11/12. I am still in disbelief. I am so super excited. Wishing all of you the best of luck as well.

Congrats! :up:

aprn2007 · Sep 12, 2012

That sounds great only things to consider in regards to that is you must be employeed the entire 120 payments. Deferments and forbarances do not count in those months.

I will have to calculate whether it would be worth it to go that route with the remainder as whatever interest I would accumulate up to those 10 years may be more than me just hunkering down and paying for it.

Technically I have only been in repayment since 2010 plus a few months between undergrad and grad school that may shave off like 6 months...maybe a year, so it would be around 2020.