Nurse Corps Loan Repayment 2016 Cycle

Published

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.

Does anyone know of ANY other nurse loan forgiveness programs? Or does anyone have any experience with consolidating loans and just having one payment with a lower interest rate? I'm not sure what I'm going to do at the end of this process, but I have GOT to do something to get out from underneath this debt. Nelnet is so bad, that my current loan balance is MORE than my original loan balance because of the ridiculous interest rates. Ugh! What can we do?!?

Up Vote Up Vote ×
Does anyone know of ANY other nurse loan forgiveness programs? Or does anyone have any experience with consolidating loans and just having one payment with a lower interest rate? I'm not sure what I'm going to do at the end of this process, but I have GOT to do something to get out from underneath this debt. Nelnet is so bad, that my current loan balance is MORE than my original loan balance because of the ridiculous interest rates. Ugh! What can we do?!?

Check into Fed Loan servicing that's what I'm currently doing, they consolidate all of your loans with them and it goes by what your income is the process is not bad and they have a 10 year loan forgiveness program if you work in public service. Here's the website link FedLoan Servicing

Up Vote Up Vote ×

Thanks! I'll look into it. Also, I believe that we, as nurses, qualify as public servants and from the moment we began repaying our student loans, we are covered under the Public Service Loan Forgiveness (PSLF) act. Which means, like you said, that after 120 monthly payments or 10 years, our remaining loan debt will be forgiven anyhow. I guess that means I'm half way there, lol.

Up Vote Up Vote ×

Most states also have loan repayment options, and they are typically easier to obtain. For example, TN has a state loan repayment program that has funding reserved to pay back $50,000 of a providers loans that are serving a primary care shortage area. They usually follow the HRSA scoring. I would look into that as well. I have a lot of debt, so I decided to try for the Nurse Corps first. If I don't get it, I will apply for the TN loan repayment program.

Up Vote Up Vote ×

Thanks for the info! Do you happen to know where to look for each states repayment programs? When I've done searches, I've never seen anything directly related to South Carolina.

Up Vote Up Vote ×

I'd go as far as to say that you cannot trust the phone reps at all. They may or may not be correct in what they tell you. The reason?

When you call you are not speaking to an employee of HRSA. It is a separate customer service company subcontracted out by HRSA so that they don't have to deal with taking phone calls. They are basically giving you answers from a FAQ provided to them by HRSA. I speculate that they actually take calls for several other programs in addition to this one. The supervisors can escalate a case and contact HRSA for clarification on a question, but they will not under any circumstances provide you with the contact information of the HRSA staff that actually administer this program.

I found this out last year when speaking to one of their supervisors about the bad information they had given me. I will say that she seemed very concerned, almost nervous about what they had told me. I'm sure they don't want to loose the contract.

Up Vote Up Vote ×
Specializes in ICU.

Florida also has a state based program that will repay up to $16k over 4 years if your employment meets criteria (similar to HRSA criteria).

Up Vote Up Vote ×
Florida also has a state based program that will repay up to $16k over 4 years if your employment meets criteria (similar to HRSA criteria).

Do you have the website for this program? Thanks in advance.

Up Vote Up Vote ×
Specializes in ICU.
Do you have the website for this program? Thanks in advance.

http://www.floridastudentfinancialaid.org/FFELP/Nursing_Loan_Forgiveness/NursingLoanForgiveness.html

They accept applications four times per year. The next cycle is closed (likely because they received so many this last cycle). They did this last year too. The next cycle should open in a few months. :yes:

Up Vote Up Vote ×

Thank you!

Up Vote Up Vote ×
Were they an initial award recip or an extension? I am an NP and have applied to both. My HRSA score is pretty high and so is my debt to income ratio. I haven't heard on either.

Initial

Up Vote Up Vote ×

Just hoping for someone to hear something soon!

Up Vote Up Vote ×
+ Join the Discussion