2021 Nurse Corps Loan Repayment Program

Nurses General Nursing

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

Specializes in Family.

I have had 2 credit checks, but the first one is from 4/27/2021 and it says NHSC LRP/SP/HRSA. The second check was on 5/20/2021 and it says NCLRP/NCSP/HRSA. I did apply for both Nurse Corps and NHSC loan repayments, although the NHSC application cycle just closed a few days ago so I wouldn't think they would pull my credit before the application cycle ended. What does everyone else's credit check say?  

1 hour ago, DaniLynn said:

Hey everyone! Im about to start school to be an RN, can someone tell me where I can apply for 21-22?

It's the HRSA health workforce. The website is HRSA.gov and they offer scholarships to students as well.

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Specializes in FNP.
13 hours ago, Janar333 said:

I have had 2 credit checks, but the first one is from 4/27/2021 and it says NHSC LRP/SP/HRSA. The second check was on 5/20/2021 and it says NCLRP/NCSP/HRSA. I did apply for both Nurse Corps and NHSC loan repayments, although the NHSC application cycle just closed a few days ago so I wouldn't think they would pull my credit before the application cycle ended. What does everyone else's credit check say?  

I also applied for both as well. NCSLP/NCSP/HRSA (nurse Corp loan repayment) checked my credit on May 20th. Today NHSCLRP/SP/HRSA (NHSC loan repayment) checked my score. Things seem to be moving more rapidly than previous years. 

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Specializes in Family.
13 hours ago, FoxFNP said:

I also applied for both as well. NCSLP/NCSP/HRSA (nurse Corp loan repayment) checked my credit on May 20th. Today NHSCLRP/SP/HRSA (NHSC loan repayment) checked my score. Things seem to be moving more rapidly than previous years. 

Well, that's good news! I hope they move faster on offers too! ?

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Hey folks!

I did regular (full-time, not SUD or rural) NHSC LRP as a psych NP and last week was notified that I have been awarded a continuation. They do continuations first before moving on to initial contracts for NHSC and Nurse Corps. Hopefully people seeking initial contracts will start hearing back soon. Good luck!

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Specializes in Peds psych.

Thanks so much snoozyd and congratulations on your continuation! That's very kind of you to keep us newbies updated! 

 

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Specializes in Family.
On ‎6‎/‎6‎/‎2021 at 11:05 AM, snoozyd said:

Hey folks!

I did regular (full-time, not SUD or rural) NHSC LRP as a psych NP and last week was notified that I have been awarded a continuation. They do continuations first before moving on to initial contracts for NHSC and Nurse Corps. Hopefully people seeking initial contracts will start hearing back soon. Good luck!

Thank you for that Snoozyd. I got an email on Friday that I am a finalist for National Health Service Corps (NHSC) Loan Repayment Program. That is $50,000, and I believe not taxed? If I accept then I am automatically declined from Nurse Corps LRP. That one would give me quite a bit more $ given my student loan debt... and is potentially taxed. I'm not sure if I can take the gamble. I was wondering, is it taxed? Also, is it monthly payments? Thanks for the insight.

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Specializes in NNP.
42 minutes ago, Janar333 said:

Thank you for that Snoozyd. I got an email on Friday that I am a finalist for National Health Service Corps (NHSC) Loan Repayment Program. That is $50,000, and I believe not taxed? If I accept then I am automatically declined from Nurse Corps LRP. That one would give me quite a bit more $ given my student loan debt... and is potentially taxed. I'm not sure if I can take the gamble. I was wondering, is it taxed? Also, is it monthly payments? Thanks for the insight.

Congrats Janar333! I can’t speak to the NHSC, but I received the NCLRP in 2019. The NCLRP amount has federally tax withheld, but not state tax which you will be responsible for in addition to any additional federal tax. It is given in the form of monthly payments over 24 months for a total of 60% of your approved loan amount. Hope this helps and good luck in your decision. 

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Specializes in Family.
43 minutes ago, Clare Morello said:

Congrats Janar333! I can’t speak to the NHSC, but I received the NCLRP in 2019. The NCLRP amount has federally tax withheld, but not state tax which you will be responsible for in addition to any additional federal tax. It is given in the form of monthly payments over 24 months for a total of 60% of your approved loan amount. Hope this helps and good luck in your decision. 

Thank you for that info. Are the monthly payments made directly to you? Or to your student loan lender? 

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Specializes in NNP.
2 minutes ago, Janar333 said:

Thank you for that info. Are the monthly payments made directly to you? Or to your student loan lender? 

They are made directly to you (with federal tax subtracted). You must then apply it to the qualifying loans. I pay the minimum on all my loans and apply the remaining balance to the highest interest loan. 

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2 hours ago, Janar333 said:

Thank you for that Snoozyd. I got an email on Friday that I am a finalist for National Health Service Corps (NHSC) Loan Repayment Program. That is $50,000, and I believe not taxed? If I accept then I am automatically declined from Nurse Corps LRP. That one would give me quite a bit more $ given my student loan debt... and is potentially taxed. I'm not sure if I can take the gamble. I was wondering, is it taxed? Also, is it monthly payments? Thanks for the insight.

NHSC is NOT taxed and it comes in one lump sum. When I did the math on the tax and the interest accrued over those monthly payments, NHSC's payout was about the same as what I'd actually get (minus tax and interest) from Nurse Corps.

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Specializes in Family.
2 minutes ago, snoozyd said:

NHSC is NOT taxed and it comes in one lump sum. When I did the math on the tax and the interest accrued over those monthly payments, NHSC's payout was about the same as what I'd actually get (minus tax and interest) from Nurse Corps.

Awesome! Does the lump sum go straight to the lender, or to you (to pay the lender)?

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12 minutes ago, Janar333 said:

Awesome! Does the lump sum go straight to the lender, or to you (to pay the lender)?

The lump sum goes to you! So definitely double and triple check your banking info ? They have 90 days to pay out once your contract starts and most years it shows up pretty close to that 90 day deadline - mine came in December.

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