Nurse Corps Loan Repayment 2016 Cycle

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Hello All,

I am applying for the nurse corps loan repayment program 2016 cycle, I just spoke to a representative who told me the application cycle opens up tomorrow. For those of you who have applied any tips advice etc.? I am very excited about this opportunity because I have an outrageous amount of loans.

I just saw on the application checklist the following statement: "For Federal loans, the Aid Summary Report on the National Student Loan Data System (NSLDS) website is considered a disbursement report. To receive consideration for an award, both the NSLDS Aid Summary Reportand account statements must be submitted with your application. Submitting only the NSLDS report will deem your application incomplete upon review." I am worried because I did not submit any account statements from my lender. I am hoping the information you received from the call is correct!!

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Has anyone else not received a credit check? I'm an RN and have yet to see anything on credit karma. Is there anywhere else to look for a credit check?? Getting worried :/

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I just saw on the application checklist the following statement: "For Federal loans, the Aid Summary Report on the National Student Loan Data System (NSLDS) website is considered a disbursement report. To receive consideration for an award, both the NSLDS Aid Summary Reportand account statements must be submitted with your application. Submitting only the NSLDS report will deem your application incomplete upon review." I am worried because I did not submit any account statements from my lender. I am hoping the information you received from the call is correct!!

I uploaded my all my loans through the system but I don't know if I submitted a report. ****!

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I just saw on the application checklist the following statement: "For Federal loans, the Aid Summary Report on the National Student Loan Data System (NSLDS) website is considered a disbursement report. To receive consideration for an award, both the NSLDS Aid Summary Reportand account statements must be submitted with your application. Submitting only the NSLDS report will deem your application incomplete upon review." I am worried because I did not submit any account statements from my lender. I am hoping the information you received from the call is correct!!

I uploaded my documents through the NSLDS as well and received a credit check. I'm thinking if I was ineligible I wouldn't have received one. I did it the same way last year and didn't receive the award because there weren't enough funds available according to the email I received.

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I also uploaded through the NSLDS website and received a credit check. I don't think I would have received a credit check it I was ineligible. I did not submit any other documentation. I just called and spoke to someone and he said if your account says under review then everything is correct. He said it would say application ineligible if it was submitted wrong or had missing documents. Hope this helps :)

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No report was needed from your lender for federal loans.. as long as you used the automatic tool that they provided. I already had that panic attack and called earlier this year... ;)

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Hi! Just curious if there are other faculty members out there who applied. I work with >50% of students from a disadvantaged background, but my D/I ratio is around 55%. I see that puts me in a much lower tier this year. Staying hopeful!

I'm a faculty member. My school is not >50% disadvantaged, but my D/I is >170%, which I think puts me in Tier 2, if I remember correctly. I also applied using the NSLDS feature, and it was my understanding that there was no need to provide further documentation on those loans. If it helps, I did receive a credit check in April, and my status is still listed as 'under review.' No matter how much I wish that it said "all loans paid in full" :rolleyes:

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Has anyone else not received a credit check? I'm an RN and have yet to see anything on credit karma. Is there anywhere else to look for a credit check?? Getting worried :/

You could check equifax directly as that who it is reported through.

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I have not seen a credit check when looking at equifax on credit karma. But as of yesterday my application status is still under review. I have been thinking all this time that no credit check means I am probably out of the running because I must have screwed something up on my application...mostly concerned because I had to manually enter all of my loans. But who knows, maybe a glimmer of hope, however doubtful so already looking forward to the next application cycle. And someone had asked earlier about changing to the income based repayment plan during the application process...I applied last month to change my 10 year standard plan to an IBR plan and was accepted. Not sure if that now makes me ineligible or not, I just went ahead since not looking good for me to receive the award this year with no credit check. My monthly note did decrease by $800 though! At least for the next 12 months, then will need to resubmit income information to be re-evaluated, which must be done yearly to determine eligibility for the IBR plan.

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Jlseta: Thanks for calling! I just breathed a sigh of relief ;)

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Hello all, I posted but I don't think it went through...anyway, I was just wondering how they figure out debt to income ratio. Is it your income as an NP (like the offer you got or will get) or is it your income as soon as you graduate? Wouldn't your income then be zero or whatever your income is as a RN? Would mortgage count as debt also? So if you apply after getting a job as an RN would your debt to income ratio then decrease cuz your salary is higher?

Thanks.

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Hello all, I posted but I don't think it went through...anyway, I was just wondering how they figure out debt to income ratio. Is it your income as an NP (like the offer you got or will get) or is it your income as soon as you graduate? Wouldn't your income then be zero or whatever your income is as a RN? Would mortgage count as debt also? So if you apply after getting a job as an RN would your debt to income ratio then decrease cuz your salary is higher?

Thanks.

When you apply for the loan repayment your site administrator will fill out your employment verification which includes your base annual salary. You must employed, or soon to be at time of application to qualify so your income would not be zero. Mortgage does not cout as debt. Just your nursing student loans divided by base annual salary would equal your debt to income. Hopefully I got that all right and it helps.

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