2020 Nurse Corps Loan Repayment Program

[NurseLizabeeRN]

Hey people! I've been interested in the HRSA Nurse Corps Loan repayment program for several years, just never took the time to apply. I am full-time nurse faculty in an BSN program. For those who have applied before:

1. When does the cycle usually open? ( I have signed up for updates)

2. How do you calculate your DTI? (This is all new to me?)

Thanks for your responses. Hopefully we can kick some student loan debt in the butt!! I'm excited and haven't even applied yet! Blessings to you all!

[ljohnso, MSN, APRN, NP]

I had a credit check in July. Still have faith that I will receive a finalist email! CONGRATS to all who have been selected so far

[hemeNP32]

Nurse Corps Loan Repayment Program (NP) - just received an email that my application has been updated. Accepted the award and status is now changed to "Accepted Award - Under Final Review"!!

DTI ~250%, site score 16, credit check 7/17

[ljohnso, MSN, APRN, NP]

That’s great! I had my credit check around 7/16 or 7/17. I’m not sure of my DTI, but I know it’s high! Saying a prayer and keeping faith I’ll receive an email’ 

[KWHNP]

WHNP here, I applied to Nurse Corps LRP

DTI: ~190%
Site score 17

Credit check 7/15

Received finalist email today for confirmation of interest. 

[NPWoo]

Congratulations! It's nice to see some movement here. Fingers crossed that they start cosigning some contracts soon. 

[Jess Rena]

Rural NP, I applied for both, recieved and accepted the nurse corps LRP offer today! When I got it I literally screamed and was running around the office! ?

 

dti- 200%
hpsa-17

 

I recieved two credit checks around 7/15 as well. 

[ljohnso, MSN, APRN, NP]

How are you calculating Your DTI? I’m in Louisiana and 95% of my patients are Medicaid or uninsured, so I’m sure my score is higher. I actually like my job so I’m hoping I get it as I don’t see me leaving anytime soon

[tonydaman, MSN, NP]

Received a finalist email yesterday! Thank you to everyone on this thread in helping mediate my anxiety. 
 

NP. DTI >200%
 

Best of luck to everyone! 

[NPWoo]

@ljohnso DTI is nursing student loan balance divided by base salary.  So $100k of student loans with a $80K annual salary would be 1.25 or 125% DTI.

@Jess Rena  I know the feeling! My stomach dropped when I received that finalist email. CONGRATS!

[Aimee0816, BSN, RN]

13 hours ago, NPWoo said:

@ljohnso DTI is nursing student loan balance divided by base salary.  So $100k of student loans with a $80K annual salary would be 1.25 or 125% DTI.

@Jess Rena  I know the feeling! My stomach dropped when I received that finalist email. CONGRATS!

Is base pay before or after taxes? 

[NPWoo]

@Aimee0816 Base salary is before taxes are taken out. And does not include overtime, bonus pay, or shift differentials.

[USLEEP]

On 7/25/2020 at 2:29 PM, cmacdo57 said:

For anyone who receives the Nurse Corp LRP make sure you significantly increase your state & federal income tax withholdings. The first four months will be reported on your 2020 return and it won’t kill you if don’t significantly increase the withholding but in 2021 you will get killed by your income tax because you will be in a much higher tax bracket then you are now. I owe the Feds over $7,000 for last year and had increase my withholding based on the 4 months from the the year before.

@cmacdo57 the taxes are a huge concern for me. Between your increased withholdings and payment at the end of the year, in the end, did you find the Nurse Corps beneficial? I'm a CRNA and looking into 2021 cycle year, but wondering if it would all "balance out" with the taxes.