NELRP 2013 - Who else applied?

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This is my first year applying for the NELRP but I have known about it for about 3 years, I just recently got a job at a facility they recognize. I was wondering if anyone here has applied before and is the process really as long as I have been reading on past threads? Oh, and do they tell you why you don't get it if you get denied? I'm just a little nervous because I need this help greatly! :nailbiting:

I've been investigating the program, however, having difficulty finding out which facilities are considered DSH. Any idea where I can find this out? I've googled everything I can possibly think of and have still had no luck.

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Specializes in Utilization Review.

AddyRN, did you end up recieving the award in 2013? Its so crazy because I read blogs back from 2012, and i feel like i know everyone because of the struggles and stress the waiting caused, I was just recently looking for information and guidence, and I saw your name in 2012 and you did not get it, but it looks like in 2013 you did get the award. I was awarded in 2013.

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Specializes in Critical Care.

I received the Finalist email for 2014 (I am nursing faculty, Tier 1, 115% debt to salary).

My question is to current participants....how did this affect your taxes in 2013? I understand the money is taxable (so truly you do not end up with the full 60 or 85%). Did you end up owing more in federal taxes at the end of the year?

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Specializes in Utilization Review.

I did not end up owing. I did not have a child to claim, but I also claim 1 on my paycheck so a lot gets taken out already. Yes they take a lot out for taxes, but I have been paying off my private loan first, then I should have enought to pay up on my Federal to the 10 year mark and rest will be forgiven as part of the Public Loan forgiveness Program. I hope that is correct I wont know for a while now.

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Specializes in Critical Care.

Thank you! I was hoping you would reply. I stalked this thread last year. I knew I would be graduating and taking a faculty job. I am a finalist and fingers crossed that everything goes well and I am funded! The bulk of my debt is federal. I am confused as to how it would work to then get forgiveness. You have to make 10 years of payments, correct? Do they count pre-paying as 10 years? I am not going to pay any of my private loans with these funds (I owe only 5K in private loans).

Thanks again!

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Specializes in Utilization Review.

Just found the answer had to look it up I did not even think about that being an issue. I found the answer but don't completely understand!! read the last paragraph. If I pay more than my scheduled monthly student loan payment amount, can that additional amount be counted as more than one qualifying payment for PSLF? For example, if I make a single payment that is equal to three monthly payments, will that amount be counted as three separate payments toward the required 120 separate monthly payments?

No. You must make 120 separate monthly payments. Lump sum payments that exceed the scheduled payment amount do not count as separate payments. There is a limited exception to this requirement for Peace Corps and AmeriCorps volunteers. See If you make a payment that exceeds the scheduled payment amount, and the excess amount is equal to or greater than your scheduled monthly payment, the excess amount will be treated as being intended to cover one or more future payments unless you request that the excess amount not be treated as being intended for future payments. Depending on the size of the excess payment, it is possible that your next due date could be a month or more in the future from the date you made the extra payment amount.

If you make subsequent payments while your account is “paid ahead”, those payments will not count toward PSLF.

If you request that your extra payment amount not be applied to future scheduled payments, the excess amount will not advance the due date of your next scheduled payment, and any subsequent

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I am a finalist for the 2014 award as well and already trying to figure out how to pay my loans. I have about 5 private loans that I would ultimately like to have paid off at the end of the 2 years. I also have a huge private loan too that will hopefully be forgiven after the 10 years with the forgiveness act that I plan on paying the minimum on while paying off the private ones. How is it working for you micah? I guess I am just worried it won't work out as planned.

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Specializes in Utilization Review.

Hope anyone is still following the blog from last year. I have been receiving the award for 1 year now. My initial plan was pay off my 40 K private loan and use the rest on my 140 k federal loans. I had it worked out that it would pay my federal loan up for 10 years and I would have enough for it to be cancelled in the PSLF program. I am reading that is not the case. I am so grateful for the grant do not get me wrong but I am still going to be left with almost 100k in loans when I am done. I was going to call and talk to someone about this, i am sure I am not the only individual dealing with this, I assume that most of us were hoping to use the money to pay ahead for the 10 years. If they did not ask for proof of payment I would put the money in a savings each month and use it from the savings to pay the loan for the next 10 years.

I am almost done with my private so now I am going to have to figure this out quickly.

Any suggestions?

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