2018 Nurse Corps Loan Repayment Program

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Hi all,

I've been reading up on the Nurse Corps Loan Repayment Program and looks like in past years, threads have been started for the yearly application process. I'll be applying as a Staff RN (non-faculty) working at a DSH with an HPSA Score of 16. Not sure of my DTI percentage yet. Hoping to connect with others that will be applying to the program next month and we can all share our updates here. Best of luck to everyone!

Hi all, here are my stats. Hopeful but not holding my breath.

Credit checked by credco 4/22

Tier 1

D/I 150%

HPSA 14

CRNA

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New Grad RN, score of 16 (I think).

I'm a little confused about how they are calculating the DTI. Is it based purely on your loans and income, or do things like credit card debt and mortgages factor in, like they do in a normal DTI calculation? Because it seems like everyone (in threads from years past also) has a DTI >100, but mine only calculates out to like 50 based on just my income and loans.

They don't ask about mortgages or other loans/debt, but do they pull that information from your credit score? Mostly I'm sad that it seems pretty much hopeless that I would be awarded with my stats.

Someone correct me if I am wrong.

No, your DTI for this purpose does not include mortgage, auto loans, credit debit, etc. It is your federal student loan to your income ratio. For example:

My RN salary is say 70k per year. I barrowed 50k from federal loans towards my BSN, however that was not enough, so I took an additional 50k from a private loan company like SallieMae (as for a BSN the federal cap is somewhere around 50-60k). For this purpose (nursing loan repayment) my DTI would be 0.71;71%, as they do not include private loans (which would make it along the lines of 1.42:142%). So as long as my site is above HPSA 14, I would be a tier 2.

It is also my understating that this DTI uses yearly gross pay and pits it against your total federal debit, as oppose to say a mortgage lender how looks at your monthly debts.

This is my understanding. If incorrect, please feel free.

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Credit checked 4/20.

Tier 1

HPSA 16

DTI >250%

RN

3rd year applying and have gotten credit checks each time.

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HPSA score of 16

DTI 125%

Third year applying. No credit check the first two times.

Credit check this time on April 21st

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D/I: 115%

HPSA: 14

First time applying

CRNP

Credit checked on 4/20

Does anyone know if certain facilities are awarded first and/ or more often even within Tier 1?

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Does anyone know how to figure out your D/I and HPSA number? This is my first year applying; Registered Nurse. Thanks!

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I don't think so. I think they put everyone into the appropriate tier, and then go down the list based off D/I ratio. Don't think your specific site plays a role, other than to designate which tier you'll be in.

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D/I ratio is determined by taking your salary and dividing by your student loan debt. They don't take into consideration any other debt you have. HPSA number can be found on the HRSA website.

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Specializes in Utilization Review.

2nd year applying had a credit check last year, but not this year yet, RN D/I 180% HPSA 17. Little concerned no credit check yet when I had one last year.

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Following this thread as I applied, first year, credit check back in April, praying for a miracle that I get an offer. I know I have quite a bit of student loan debt but it doesn't seem like my DTI ratio is as high as some of the others. Good luck to everyone!!

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Specializes in Surgery.

First time applying. Application status: Under Review. Credco checked my credit 4/20

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From the 2016 cycle, applying for the 3rd year extension. Original application information: CNS, HPSA 17, D/I > 200%. Just got a CREDCO check on 5/8/18.

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