I am an NP working at a NY facility with a score of 19, which is tier 1. My loans each month are CRAZY (about $1500), so even though my debt:income score isn't as high as some (it's about 120%), this would be life changing for me!
I was just hoping to get some general advice/thoughts from everyone during this very painful waiting process. I've heard that if you do get the award you generally find out in July/August, otherwise rejections mainly come around October.
Has anyone else been in my shoes, with a similar facility score and debt/income score, with any words of wisdom? I'm nervous and thought it would just be nice to chat with other people who are going through the same thing, or who have been through it!
Lastly, for the folks who have gotten this before, what ways do you utilize it? Do you use it to make your minimum monthly payments and try to save, or do you make 1.5 x your regular payments? Pay off private loans first?
Just thought it would be nice to get a convo going this application cycle!
Tarshapitt you get a monthly deposit into your bank account. In the welcome pack paperwork there's a "Participant Award Worksheet" that will tell you how much will be deposited each month.
I received the finalist letter on July 31st, has anyone received the congratulations letter? Just wondering how long it will take to find out if I am actually going to get the funding. Thanks Sarah
Congratulations to everyone who has received an award! how exciting and life changing! I haven't heard anything with my facility score of 17 and debt to income ratio 110% which is a major bummer . I guess the Public health nurses before me have applied and not received anything either. I love my job but the pay isn't going to allow me to stay much longer. Right now I live paycheck to paycheck (barely). The loan repayment would have helped significantly. I can make more money sitting behind a desk at an insurance company then I do caring for our most under served adults experiencing homelessness in one of the roughest areas of Minneapolis. What is wrong with that scenario??
I wonder if they ever do a state to state breakdown of where the repayment goes? I am in MN. Anyone else from MN receive an awards letter?
Congratulations to everyone who has received an award! how exciting and life changing! I haven't heard anything with my facility score of 17 and debt to income ratio 110% which is a major bummer . I guess the Public health nurses before me have applied and not received anything either. I love my job but the pay isn't going to allow me to stay much longer. Right now I live paycheck to paycheck (barely). The loan repayment would have helped significantly. I can make more money sitting behind a desk at an insurance company then I do caring for our most under served adults experiencing homelessness in one of the roughest areas of Minneapolis. What is wrong with that scenario??
I wonder if they ever do a state to state breakdown of where the repayment goes? I am in MN. Anyone else from MN receive an awards letter?
I too am in Public Health in Kentucky. I am an RN, D/I ratio of about 100% and have not heard anything.... but my coworker, an APRN has received the award- her D/I ratio is under 100%, not sure of the exact number. We are a tier 2, with a score of 12.
If I read correctly, 50% of the funds are reserved for Advanced Practice nurses... so we wait and see. I have read of several rn's getting it though. I don't think I will- I don't believe my d/i ratio is high enough compared to some of the other comments left on this and another post I follow. Hope you hear something soon! It's definitely life changing, that's for sure!!
Corri, I'm in the same situation. I'm in Tier 1 with over 200%. The wait is so frustrating. I'm in Missouri if that helps, not sure if it's going state by state or not.
Corri, I'm in the same situation. I'm in Tier 1 with over 200%. The wait is so frustrating. I'm in Missouri if that helps, not sure if it's going state by state or not.
Grandpa- 200% is the highest I've seen mentioned so far..... I would have expected you to hear something by now. Hope you get good news soon!
Depends on how you calculate I guess. Originally I thought my DTI was 130%, but then I read more closely and saw that they take your base wage, which for me wouldn't include any shift differentials or anything, so my actual DTI was 200%!
Hello all. So I was thinking about applying for this program after I graduate NP school in December 2015. I was wondering for those who work in an under served area how does the pay differ than that from just a regular hospital or office. For me 60% of my student loans is a large amount but will I have to take a 20K pay decrease because I work in a place that qualifies for this program? For me this is not all about money but i want to be smart about where I go to work. Any info on pay rates would be grateful.
I also want to comment on those who might not have received an award letter for this loan repayment program. Many of you might already know this but look at the public service loan repayment program. PSLR. It is for anyone that works in the medical field including RN's and NP's and that person must work for a government or a non-profit company. The good thing about the program is the amount of student loans is not calucated in the monthly repayments. It is only based on income. Whether you owe 90k or 600k the monthly payment will be the same. Also, you are only required to make 120 payments or 10 years worth and the rest will be forgiven. If anyone has any questions about this i'll be glad to help any way I can.
I know there were a few people that got the award finalist email around the end of July, and I was wondering if anyone from then had heard the official word yet? It seems like from stalking prior years that it's usually 3 or 4 weeks between the finalist email and the congratulations. I just hit 3 weeks yesterday, and it's agonizing to wait! I got my finalist email July 31st. Crossing my fingers for good news soon, and I'd love to know if anyone has heard anything yet!
. I guess the Public health nurses before me have applied and not received anything either. I love my job but the pay isn't going to allow me to stay much longer. Right now I live paycheck to paycheck (barely). The loan repayment would have helped significantly. I can make more money sitting behind a desk at an insurance company then I do caring for our most under served adults experiencing homelessness in one of the roughest areas of Minneapolis. What is wrong with that scenario??
allisonhillary
49 Posts