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!
I got my award confirmation today for Nurse Corps LRP. Hooray!
@GreenTeaIceCream I made it through with both federal loans and refinanced private loans. Totally allowed. Follow the application instructions on the nurse corps site. You need the statement of account from your original lender and your current lender. Easy but time consuming so make sure you give yourself at least 2 weeks to get the info. Big reason why people miss the app due date.
CONGRATS!Can we start a group on some platform to keep up to date and be able to chat about any issues?
I know I saw another comment somewhere, but I also was taken aback that not all my loans were accepted into the program. In hindsight, it makes sense. My DTI is 180% & I was Tier 1. I didn’t realize they might be “choosey” about the total debt, and instead use your DTI to qualify you, then award you a certain amount, not necessarily award you toward all your loan debt. While I’d like to have had my private loans covered too, I can feel grateful they are spreading the money around for us all more. FWIW, my federal loans were targeted for this award. I’ll have to keep chipping away at private loans for now. I can see myself trying for HRSA someday, where you get that fat, tax-free amount to pay down loans.
has any one received loan repayment so far with DTI ratio around 150%? I am wondering if the funds are going to trickle down that far? It seems the average DTI people are reporting on this forum are around or >200%?
I know I saw another comment somewhere, but I also was taken aback that not all my loans were accepted into the program. In hindsight, it makes sense. My DTI is 180% & I was Tier 1. I didn’t realize they might be “choosey” about the total debt, and instead use your DTI to qualify you, then award you a certain amount, not necessarily award you toward all your loan debt. While I’d like to have had my private loans covered too, I can feel grateful they are spreading the money around for us all more. FWIW, my federal loans were targeted for this award. I’ll have to keep chipping away at private loans for now. I can see myself trying for HRSA someday, where you get that fat, tax-free amount to pay down loans.
I don't believe private loans qualify for nurse corps or NHSC.
I got my award confirmation today for Nurse Corps LRP. Hooray!
@GreenTeaIceCream I made it through with both federal loans and refinanced private loans. Totally allowed. Follow the application instructions on the nurse corps site. You need the statement of account from your original lender and your current lender. Easy but time consuming so make sure you give yourself at least 2 weeks to get the info. Big reason why people miss the app due date.
Thank you so much for your answer, and congratulations on the award!!
I'm planning on applying next year - the website doesn't give very much info. I have confirmed that the hospital I work at qualifies, but does it matter if you work in the OR or PACU (my friend and I both interested in applying next year)? I know some people don't consider those areas to be part of "primary care". Anyone in either of those areas successfully get into the LRP?
has any one received loan repayment so far with DTI ratio around 150%? I am wondering if the funds are going to trickle down that far? It seems the average DTI people are reporting on this forum are around or >200%?
brookec1210
6 Posts
CONGRATS!Can we start a group on some platform to keep up to date and be able to chat about any issues?