All Content by Janar333
- 2021 Nurse Corps Loan Repayment Program
- 2020 NHSC Loan Repayment Program
- 2021 Nurse Corps Loan Repayment Program
- 2021 Nurse Corps Loan Repayment Program
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2021 Nurse Corps Loan Repayment Program
Did you get Nurse Corps or NHSC? I decided to go with NHSC. It's a lump sum of $50,000 that will be deposited into your bank account approximately 90 days from your contract start date. It took 79 days for me to see the funds. You use that money to pay your loans and can ask for continuation after your 2 years is complete for another year ($20,000 for year 3, another $20,000 for year 4, then $10,000/year until your loans are paid in full). As long as you used those funds to pay your loans off I am under the impression that you are pretty much guaranteed the continuations if you want them. Oh also, NHSC is not taxed so you don't have to worry about paying taxes on this. Hope that makes sense.
- 2021 Nurse Corps Loan Repayment Program
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2021 Nurse Corps Loan Repayment Program
I got my NHSC lump sum deposited into my bank account today. For those of you who went with NHSC, my 90 days would have been October 5th so they were a little ahead of schedule for me.
- 2021 Nurse Corps Loan Repayment Program
- 2021 Nurse Corps Loan Repayment Program
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2021 Nurse Corps Loan Repayment Program
Congratulations! ???
- 2021 Nurse Corps Loan Repayment Program
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2021 Nurse Corps Loan Repayment Program
On that same note, the article talks about loans that are forgiven, not loan repayment programs.. I know nothing about the difference or what qualifies but if I were you I'd call and ask this question- if Nurse Corps Loan Repayment qualifies for this new bill passed and therefore won't be taxed.
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2021 Nurse Corps Loan Repayment Program
Congratulations! From other posts about Nurse Corps it seems that you will get monthly payments for 24 months with federal taxes withheld from those monthly payments. You may have to pay more in depending on your situation. However, there is speculation that you may not have to pay any taxes at all on it! Someone else posted this link about a covid relief bill that was passed... So hopefully you won't have to pay taxes on it! 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
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2021 Nurse Corps Loan Repayment Program
Congratulations to you! What a good dilemma and timing for both to offer at the same time. personally, I could not take a chance once I was offered a NHSC. Come to find out, NHSC will pretty much continue you for as long as it takes to pay off your loan as long as you put the money toward your loan and verify your employment every six months. 50k for 2 years paid lump sum, 20k for year 3, 20k for year 4, and 10k/year for years 5+ until paid off. However, nurse corps does seem to be more desirable to a lot of ppl- I think because it pays off a percentage and depending on your debt could be A LOT more, even with the taxing. 60% for 2 years paid monthly to you, then if you get the 3rd year continuation you get 25% added to that for a total of 85% of your approved student loan amount. This is just how I understand it to be and I may be wrong. Maybe consider how long you are planning to be where you are and how much debt you have. You can’t go wrong really, and congratulations again!
- 2021 Nurse Corps Loan Repayment Program
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2021 Nurse Corps Loan Repayment Program
Update here.. I got my award confirmed & my welcome email today! NHSC LRP award, not nurse corps. Hopefully Nurse Corps will start sending out updates soon! Sign in and check the portal, it seems that emails lag a little bit!
- 2021 Nurse Corps Loan Repayment Program
- 2021 Nurse Corps Loan Repayment Program
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2021 Nurse Corps Loan Repayment Program
I got my co-signature today for NHSC!! Whoop whoop!! Hopefully you guys will start hearing things back soon for Nurse Corps!
- 2021 Nurse Corps Loan Repayment Program
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2021 Nurse Corps Loan Repayment Program
Yes it was earlier. I submitted that app back in January, but I think that deadline was extended to March maybe? IDK. They take longer to make decisions b/c its more competitive with less awards I'm pretty sure? It depends how much student loan you have. They are both competitive, but nurse corps is more competitive and usually you have to have a high DTI (>150%) to get awarded. It pays 60% of your debt in monthly payments over 24 months with federal tax withheld, then you have to pay state tax and possible more or less to federal. I guess the tax part is up in the air this year d/t the COVID bill and possibly you won't be taxed at all on it! You can get a 3rd year continuation for 25% more payoff and I hear continuation for that 3rd year is competitive too. The biggest difference for me personally is that HRSA will pretty much let everyone continue for longer than your original 2 years as long as you used the funds to pay your debt and verified your salary q6 months. & HRSA will pay off ALL of your loans (50K for 2 years, 40K for the next 2 years, then 10K every year after that UNTIL your loans are completely paid off!). Hope this helps!
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2021 Nurse Corps Loan Repayment Program
Correct. We are talking about NHSC. Once I continued interest for NHSC award it automatically "declined award" for Nurse Corps on me. Nurse Corps seems to always be about a month behind NHSC from what I gather. So, it shouldn't be long now before the first letters go out I wouldn't think! Maybe a couple more weeks.
- 2021 Nurse Corps Loan Repayment Program
- 2021 Nurse Corps Loan Repayment Program
- 2021 Nurse Corps Loan Repayment Program