GoodLuck_Everyone

Yes, you will receive the award. That is the final step.

They don't usually send an email alerting you about the countersignature. They will send an email indicating the status change and the welcome kit. When you log in after that email, then you're screen/portal will look entirely different.

They require specific documentation at the end of your contract. It must account for every dollar and show which loans it went to. This documentation can come from the Department of Education or your loan lender.

You’re welcome & good luck!! FYI: I went back to look at the initial contract. I got the offer 7/28 and a counter signature 8/30. It was NOT a speedy process. It moved fast after that. First payment came with 2 weeks of the counter signature and is like clockwork every month.

Just give you a little background, so it makes sense how I went about it. I have multiple private and federal loans, but pay all the loans through Navient. I did not and have not consolidated my loans (yet). As a result, the interest rates vary on the loans. I also have a financial advisor and we discussed the best method to use the money for loan payment. Now to answer your questions. I only used the amount I was given each month, but I had a specific method on how I paid each loan. No, it should not affect the third year or at least per the call 2 years ago. But if awarded they have a call explaining everything and you can ask questions. They provide you with the gross and net amount. Obviously, you only receive the net. It did not affect my taxes; however, taxes can be tricky. I claim 0 dependents plus I’m married. So, those two variables factor in a lot. It does have the potential to change your tax bracket.

Yes, I have. I received it immediately upon receiving the email. On my initial application, it was 3 weeks until I received a counter signature. The 25% is based on the initial approved loan amount.

I recognize the wait can be agonizing and most systems can benefit from a improved process; however, frustration aimed at those who borrow is not the answer. As a recipient of the award, I would hardly call my loans irresponsible. The average debt for someone who obtains a graduate degree is over 50k with at least 1 in 4 individuals owing over 100k. The program is primarily aimed at NPs in disadvantage areas, which typically does not pay as well. As a result, the debt looks worse. Yes, some people borrow irresponsibly. However, classifying an entire group is unnecessary. Many of us pay are bills just fine before the loans but would like the help when given the opportunity. Blame the over-priced educational system.

Honestly, it makes perfect sense. It's easier to get smaller groups out of the way. Theoretically, I would think it would take longer to go through a larger pool of applicants to confirm information and arrange them based on DTI once they have been tiered.

Most NPs were not awarded early on for NCLRP. They usually came after everyone else. At least this was my experience when I was awarded in 2017. During that year, most NPs started posting early to mid August. Once they started awarding it was in huge bulks.

You can call, but they will not provide any information.

@PsychNicole The actual worksheet will tell you what loans were approved and then give 60% of the qualified amount. Below that it will tell you how much your monthly payment will be. For example, if you have 200k in loans, then 120k would qualify at 60%. That is 5k per month prior to taxes. The tax part is hard because it depends on what you claim on the W2 and tax bracket. But I would guess on the example that an individual would get somewhere btw 3-4K for their monthly payment amount. It’s highly unlikely that your payment is less than your interest. That doesn’t make sense. Most interest rates run 4-8% of the loan. Hope that helps. Congratulations!!!

Just found out I have been awarded a third year!! Good luck to everyone. It’s truly a blessing.

Guys I think you are all worrying way too soon. I was awarded in 2017 and complete my obligation this year. I applied for a third year (praying I get it). Nurse Corp does not move as fast as the other federal loan repayment groups. The year I was awarded a lot of people did not find out until mid to late July and even more until August. The earlier ones were still in July but early July. The purpose of the credit check is not just about your loan information. It is really about verifying you do not have any defaulted payment obligations (federal, non-federal, etc.). This is heavily discussed in the application guidance packet. Any defaulted or problematic obligations will deem you ineligible. I only got one credit check and got the award.

I think I posted that last year. It’s too early. Nurse Corp typically does not move as fast as the others. I would suspect the earliest to be early July. It was not a fast process until after the counter signature.

Just because they do one doesn’t mean you’ll get it, but without one you’re certainly not in the running. Better to have one than not. To qualify you certainly need one.