2021 Nurse Corps Loan Repayment Program

Published

Specializes in Peds psych.

Starting this thread for those who applied for Nurse Corps loan repayment in 2021

2
Up Vote Up Vote ×

Does anyone know if the new bill that makes federal loan pardoning tax-exempt will impact the nurse corp loan repayment program?  Does anyone who has qualified in the past have any tips for filing taxes so that its clear that it isn't technically income?  

1
Up Vote Up Vote ×
On 3/21/2021 at 4:15 PM, psychnp179 said:

Starting this thread for those who applied for Nurse Corps loan repayment in 2021

Thank you for starting the thread! I hope to see more people posting soon!

1
Up Vote Up Vote ×
Specializes in OB.

First year applying, hope to get it.

1
Up Vote Up Vote ×
Specializes in Peds psych.

I did some research into past years... the lowest DTI (debt to income) ratio I saw for NP's who received the Nurse Corps Loan Repayment was 161%. Anyone seeing anything lower or know of someone?

I also saw people started getting credit checks from CREDCO in mid-June and much later with some receiving notification that they were a finalist by July for some and some as late as September before receiving the award.

As we start sharing when/if we have a credit check, or changes to our application status, it will be helpful for all of us and future applicants if we share the Tier level of our site, DTI score, whether you are applying as RN, NP, Faculty and then your specialty (I think women's health and psych NP's get some preference for this year's funding cycle). 

Up Vote Up Vote ×
Specializes in Family.

Good morning! I woke up to a CREDIT CHECK.. Looks like they pulled mine on 4/27/2021. 

Does anyone know what kind of credit score they are looking for? & I guess the reason they care about credit scores?

I am a Nurse Practitioner (family) and fall into the Tier 1 category with DTI >100% (not sure what exactly mine is, but I know its over 100%) and my HPSA score is 18.   

Good luck to everyone!! I hope we all get awarded.

1
Up Vote Up Vote ×
Specializes in Peds psych.

I think they just make sure we haven't defaulted on loans... I'm not sure if it's any loan or specifically our student loans. I'm not sure they care about our credit score at least from what I've read of the guidance provided. 

How were you notified of the credit check? 

Thanks and good luck! 

Up Vote Up Vote ×
Specializes in Family.
20 minutes ago, psychnp179 said:

I think they just make sure we haven't defaulted on loans... I'm not sure if it's any loan or specifically our student loans. I'm not sure they care about our credit score at least from what I've read of the guidance provided. 

How were you notified of the credit check? 

Thanks and good luck! 

Thanks. Makes sense that they would check to make sure your not defaulted on student loans.

I have a credit monitoring through my bank (it’s idprotectme247.com) .. it alerted me that it was checked for a new inquiry from “NHSC LRP/SP/HRSA” on 4/27/21. 

I also have credit karma and experian & don’t see it on those sites.  

Up Vote Up Vote ×
Specializes in Family.
31 minutes ago, psychnp179 said:

I think they just make sure we haven't defaulted on loans... I'm not sure if it's any loan or specifically our student loans. I'm not sure they care about our credit score at least from what I've read of the guidance provided. 

How were you notified of the credit check? 

Thanks and good luck! 

I take that back about experian. It alerted me on there too, I just missed it. Experian is free and it will alert you there! 
This is what mine said...

25AFF5D9-7B86-461C-9EBB-4BC14A711A88.png
Up Vote Up Vote ×
Specializes in Peds psych.

Great, thank you! I don't have any check yet. Good luck to you!!

1
Up Vote Up Vote ×
Specializes in Utilization Review.

RN - DTI 180% - 2nd year applying HPSA - 18 Primary Care.  I believe it is 18. 

No credit check Under Review. 

1
Up Vote Up Vote ×
Specializes in Family.
On 3/23/2021 at 1:37 PM, chocoholic1 said:

Does anyone know if the new bill that makes federal loan pardoning tax-exempt will impact the nurse corp loan repayment program?  Does anyone who has qualified in the past have any tips for filing taxes so that its clear that it isn't technically income?  

I asked on another board and someone who got it in 2019 told me that you have to pay taxes on it. They withhold federal taxes, but you have to pay state and depending on how much they withhold for federal possibly more or less there as well. Also its a monthly payment for 24 months. 

Have you heard anything on the new bill you mention? That would be wonderful if we didn't have to pay taxes at all.

Up Vote Up Vote ×
+ Join the Discussion