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psychnp179

psychnp179

Peds psych
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psychnp179 has 1 years experience and specializes in Peds psych.

psychnp179's Latest Activity

  1. psychnp179

    2021 Nurse Corps Loan Repayment Program

    heymynameisLA...... Do you mean the Nurse Corps loan repayment? or the National Health Service Corps? Are you aware of the NHSC SUD and rural loan repayment programs also? If you mean the Nurse Corps, I assume you are at a non-profit?
  2. psychnp179

    2021 Nurse Corps Loan Repayment Program

    I don't feel I'm a great writer and would love someone who is a better writer to modify this. Shorter is always better too, but.... this is what I sent to Tina Smith's office (Minnesota senator - 651-221-1016). I plan to call her office also this week. Anyone else in Minnesota, please reach out to her. She's big on rural health and mental health. Dear Tina Smith, I would like nurses to have the Nurse Corps Loan Repayment program be exempt from federal taxes just as it is for doctors and practitioners through the National Health Service Corps Loan Repayment program. It’s a fortuitous time and way to reward nurses/front line health care workers working in non-profit facilities. It would be another great way to encourage nurses and nurse practitioners to work in non-profits/community health/community mental health facilities in high need areas. The basics/differences of the 2 loan repayment programs: Nurse Corps Loan Repayment program - MUST PAY FEDERAL TAXES -For: Nurses (RN's, APRN's), Nurse Faculty -Must work in NON-PROFIT facility or eligible nursing school (for nurse faculty) -Must have high debt to income ratio (>100% ) to receive funding -Must work in high need area (HPSA score >14) National Health Service Corps Loan Repayment program -FEDERAL TAX EXEMPT -For: Physicians, PA's, NP's, Midwives, Dentists -Can work in FOR PROFIT facility -Only the NHSC SUD programs at SUD facilities allow registered nurses to qualify for this loan repayment program -Must work in high need area (HPSA score >14) Student loan forgiveness is now exempt from federal taxes. Student loan repayments through the NHSC program are exempt from federal taxes. Loan repayments through the Nurse Corps Loan Repayment and Nurse Corps Scholarship programs are not exempt from income. I encourage you to consider action to make the Nurse Corps Loan Repayment program exempt from federal taxes to reward nurses and encourage them to work in non-profits in high need/rural areas.
  3. psychnp179

    2021 Nurse Corps Loan Repayment Program

    AND they can make bigger donations! BUT..... politicians might jump on the "Help the Nurses/front line workers" bandwagon that we have going on right now due to COVID. Good publicity for them. I think it's a great time to write our legislators and ask for Nurse Corps Loan Repayment to be made tax free ASAP. They can throw it in as an amendment to some other bill.
  4. psychnp179

    2021 Nurse Corps Loan Repayment Program

    Sadly, I am quite certain you are all correct and that it IS still taxable since it is a repayment and not forgiveness. It is curious that the National Health Service Corps loan repayment (which doctors but NOT nurses can receive and doesn't have to be in a non-profit) doesn't have taxes, but the program that nurses can receive IS taxed even though they are required to work in a non-profit with a high HPSA score. I'll be writing to my legislators! I think the time is ripe to advocate for nurses to have tax free loan repayment (especially since the COVID bill made loan forgiveness tax free). I'd encourage everyone applying this year or in future years to write to your legislators advocating for the nurse corps loan repayment to be tax free just like the NHSC loan repayment is! Thanks all!
  5. psychnp179

    2021 Nurse Corps Loan Repayment Program

    Great point. I haven't seen anything official yet either. I did find the actual bill and it does not use the word forgiveness or repayment, but uses the term "discharge" : "Special rule for discharges in 2021 through 2025. Gross income does not include any amount which (but for this subsection) would be includible in gross income by reason of the discharge (in whole or in part) after December 31, 2020, and before January 1, 2026, of —" Fingers crossed but I'm not a lawyer....
  6. psychnp179

    2021 Nurse Corps Loan Repayment Program

    And today on 8/19, I received my "award documents" which provide the monthly payment (not including taxes), the contract, next steps, etc.... This is for the Nurse Corps Loan Repayment (60% of loans for 2 yrs of service). I was originally notified on July 12th that I was a finalist. 5 weeks and 3 days later until I received the official documents. Again based on what I've read of the COVID bill passed in March I don't think there will be federal taxes on this but ?????
  7. psychnp179

    2021 Nurse Corps Loan Repayment Program

    July 12th I received notification that I was a finalist for the Nurse Corps Loan Repayment. My status on the HRSA site changed to Under Final Review. 30 days later, I received another email that stated "You have received a new message from the Bureau of Health Workforce (BHW).". When I logged into the site, with the link provided in that email, it looked entirely different and at the top it states "Welcome to the Nurse Corps Loan Repayment Program!". The message in there states: "Congratulations and welcome to the Nurse Corps Loan Repayment Program (LRP)! Your Nurse Corps LRP online application account has been converted to an active Customer Service Portal account. The Customer Service Portal gives you 24/7 access to your Nurse Corps LRP account. You may update your personal information or submit questions to the Nurse Corps Loan Repayment Program staff via a portal inquiry. Through the portal, you may make banking information updates and review your personal information to ensure it is up-to-date and accurate. The Nurse Corps LRP Welcome Kit includes, the signed contract and Payment Authorization Worksheet (detailed payment disbursement); along with other resources to support you throughout your service commitment. You will receive an additional notification when your new award documents are available. To access these documents, visit "My Service Information" section on the right of the portal homepage and click view documents and details.: NOTE it states: "You will receive an additional notification when your new award documents are available". I am now waiting for that and do not yet have the signed contract or the Payment Authorization Worksheet.
  8. psychnp179

    2021 Nurse Corps Loan Repayment Program

    I received my finalist email on July 12th for NurseCorps loan repayment (NCLRP). I am also waiting for co-signature. (it's been just over 3 weeks since email stating I'm a finalist). I have not yet heard of anyone receiving co-signature for nursecorps loan repayment but would love to hear if someone has! Stats: DTI: 178% (at least). HPSA score: 17 - Psych NP
  9. psychnp179

    2021 Nurse Corps Loan Repayment Program

    I was just told I'm a finalist for nursecorps. I did not realize it is 60% of my original loans AND of the interest I've accrued on them at the time the contract begins. Also....I could be wrong, but I'm assuming there are state taxes with both programs. From everything I can tell, there will NOT be any FEDERAL taxes on any loan repayment until at least 1/1/2026 thanks to the COVID bill passed in March: https://www.warren.senate.gov/newsroom/press-releases/warren-menendez-bill-to-make-student-loan-relief-tax-free-passes-as-part-of-covid-relief-package-clearing-a-hurdle-for-broad-loan-forgiveness
  10. psychnp179

    2021 Nurse Corps Loan Repayment Program

    It's for nurse corps loan repayment program, NCLRP. I posted this on Monday the 12th: "Check the nurse corps site where you normally see "under review"! I just checked mine and it says I'm a finalist!! I saw someone on a psych NP facebook group was notified today also so I decided to check the site. I did not receive an email yet. I checked in spam and it's not there either. Psych NP, DTI 178%, HPSA score 17 - first time applying"
  11. psychnp179

    2021 Nurse Corps Loan Repayment Program

    .... update, I did end up receiving an email that arrived at around 11pm last evening. It looks like the site was updated just a few hours prior to the email being sent.
  12. psychnp179

    2021 Nurse Corps Loan Repayment Program

    Check the nurse corps site where you normally see "under review"! I just checked mine and it says I'm a finalist!! I saw someone on a psych NP facebook group was notified today also so I decided to check the site. I did not receive an email yet. I checked in spam and it's not there either. Psych NP, DTI 178%, HPSA score 17 - first time applying
  13. psychnp179

    2021 Nurse Corps Loan Repayment Program

    From the posts in the 2019 and 2020 threads, it looks like the first Nurse Corps (NCLRP) finalist notification was sent on/around the 15th of July... and the last notifications went out at the end of September. Here's hoping next week will bring someone here some fantastic news!!! Congratulations to those receiving the NHSC finalist notifications!
  14. psychnp179

    2021 Nurse Corps Loan Repayment Program

    Thanks to Chocoholic1 for this comment: "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? " Ummm, I read the news A LOT and completely missed that the COVID relief bill included a piece that makes federal student loan forgiveness tax free until the end of 2025. That is HUGE and despite no news articles about this and the how it would benefit those receiving nursecorps loan repayment, it sure seems it would benefit those of us who may end up receiving the nursecorps loan repayment which traditionally is taxable. Here's an article about it: https://www.studentloanplanner.com/tax-free-student-loan-forgiveness-american-rescue-plan/
  15. psychnp179

    2021 Nurse Corps Loan Repayment Program

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