2021 Nurse Corps Loan Repayment Program

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

Specializes in Family.
3 minutes ago, snoozyd said:

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.

Thank you SO much for all the info! I appreciate it!!

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Specializes in NICU.

Has anyone heard anything about taxes and NCLRP based on the recent information that federal loan repayment is non taxed? Does NCLRP count?

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Specializes in Peds psych.
46 minutes ago, gudiarani said:

Has anyone heard anything about taxes and NCLRP based on the recent information that federal loan repayment is non taxed? Does NCLRP count?

From everything I am reading the NO federal loan repayment would be taxed until 2025.... and it would make sense that would include nursecorps. For the person who is debating between NHSC and Nurse Corps, Nurse Corps takes into account debt to income (DTI) ratio (total student loans/base yearly income). If that number is not greater than 150% (1.50), I would not be confident in getting Nurse Corps loan repayment based on other year's comments. BUT I also saw Nurse Corps and potentially other programs received millions more dollars from the same Covid bill that included the NO tax on federal loan repayment so... perhaps more people will get loan repayment this year at a lower DTI ratio? 

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Has anyone heard anything past a credit check for the Nursing Corps Loan Repayment Program?

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Specializes in Utilization Review.

Still listed as Under Review and had 2 credit pulls.  I have applied in the past with no credit pull.  RN HPSA 18, not sure exact DTI but its high around 180% at this point with interest accruing rapidly.  If they would only forgive my interest I would be in a good place! 

Good luck hope we all hear soon. 

 

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3 hours ago, RN4KU said:

Still listed as Under Review and had 2 credit pulls.  I have applied in the past with no credit pull.  RN HPSA 18, not sure exact DTI but its high around 180% at this point with interest accruing rapidly.  If they would only forgive my interest I would be in a good place! 

Good luck hope we all hear soon. 

 

Did you apply for both NHSC LRP and Nurse Corps LRP? Or just Nurse Corps LRP?

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Specializes in NICU.

'Under Review' 

One Experian credit check at the end of May

Those that have had 2 credit checks, did you apply to multiple programs?

 

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7 hours ago, gudiarani said:

'Under Review' 

One Experian credit check at the end of May

Those that have had 2 credit checks, did you apply to multiple programs?

 

That’s what I was wondering. I only applied to one program, Nurse Corp LRP, because my site is not certified as NHSC. I only received one credit check. 

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Specializes in Family.
10 hours ago, gudiarani said:

'Under Review' 

One Experian credit check at the end of May

Those that have had 2 credit checks, did you apply to multiple programs?

 

Yes, I applied to both programs and got a credit check from each one.  I have read through a lot of past boards and it doesn't seem that they check more than once, I could be wrong though.

 I am under final review for NHSC. From what I've read I think I am just waiting on a co-signature. 

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Hello all,

I applied and my application is under review. Looks like I got a credit check on June 5th. Hoping that is good news. Silly question, how do I calculate my debt to income ratio?

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Specializes in Family.
9 minutes ago, Ashimaly said:

Hello all,

I applied and my application is under review. Looks like I got a credit check on June 5th. Hoping that is good news. Silly question, how do I calculate my debt to income ratio?

Good luck to you!

Take your student loan debt and divide it by your income. Move the decimal to the right 2 places. So if it says 1.31, that is 131% DTI. 

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Thank you! 133%. I’m tier 1. Awesome thank you. 

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