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Nurse Corps Loan Repayment Program

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What Is A Critical Shortage Facility

National Health Service Corps Loan Repayment Program Now Accepting Applications …

A Critical Shortage Facility is a public or private health care facility located in, designated as, or serving a Health Professional Shortage Area .

A HPSA is an area lacking enough primary care or mental health professionals.

Review the Application and Program Guidance for a complete list of eligible facilities.

How To Apply For Nclrp

The application is lengthy and requires documentation from your employer as well as additional supporting information. Because it can be a bit complicated, its recommended that you first familiarize yourself with the Application and Program Guidance document before you begin your application.

In general, you may be ready to apply for the forgiveness program if you meet the following criteria:

  • Youre an LPN, APRN, or nurse faculty member.
  • You earned your degree from an accredited nursing school in a U.S. state or territory.
  • You work full-time in a CSF in a high-need area or accredited nursing school.

Its also worth noting that the forgiveness is given out depending on your financial need, so there may be applicants who receive higher amounts based on their needs.

Do I Qualify For The Nhsc Lrp

Yes, you qualify if you are:

  • A United States citizen or the United States national
  • A provider in the Medicare, Medicaid, and the State Childrens Health Insurance Program, as appropriate
  • Fully trained and licensed to practice in the NHSC-eligible primary care medical, dental, or mental/behavioral health discipline and state in which you are applying to serve
  • A health professional in an eligible discipline with qualified student loan debt for education that led to your degree and
  • Working at an NHSC-approved site.

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What Is Student Loan Forgiveness For Nurses

Student loan forgiveness for nurses is when nurses get their college student loan debt forgiven by the federal government or state-based programs. These programs often require that a nurse hold a specific loan type, place of employment, or other requirements, so not all nurses will qualify. But for those that are lucky enough, they are definitely worth applying for.

The top 6 student loan forgiveness programs for nurses are:

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NURSECorpsLoanRepayment Program sets registered nurses on a rewarding career path while paying off 60 percent of their unpaid nursing student loans in just 2 years plus an additional 25 percent of the original balance for an optional third year..

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Fiscal Year 2023 FY 2023 Congressional Budget Justification Fiscal Year 2022 FY 2022 Congressional Budget Justification FY 2022 Operat. The Full NHSC NURSE Corps Scholarship Benefits package includes: Full tuition coverage. Full fee coverage. Payments to cover other reasonable costs, like books, supplies, instruments, uniforms, etc. A monthly stipend set at $1,344 for 2017-2018.

LoginNurseCorps . best The purpose of the NurseCorps Scholarship Program is to provide scholarships to nursing students in exchange for a minimum two-year full-time service commitment , at an eligible health care facility with a critical shortage of nurses..

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Now Open 2022 Nurse Corps Loan Repayment Program Application Cycle

Across the United States, many communities are facing a shortage of health care providers, especially nurses. There are many factors that impact the supply of and demand for nurses, such as population growth, an aging population, overall economic conditions, and the aging of the nursing workforce.

The Nurse Corps Loan Repayment Program helps address the health care needs of those in underserved communities and supports the ongoing development of the nursing workforce in our country by offering funding to registered nurses and advanced practice registered nurses towards payment of their qualifying educational loans.

In exchange for the payment of these qualifying educational loans:

  • Nurses serve a two-year service commitment at a health care facility facing a critical shortage of nurses.
  • Nurse faculty serve a two-year service commitment at an eligible school of nursing.

Additional loan repayment is available for both groups with a third year of service commitment.

Learn more about this opportunity.

The application cycle closes on January 13, 2022.

Benefits Of The Nhsc Lrp

  • Service

    You have an opportunity to increase access to primary care services to communities in need.

  • Flexible Service Options

    You have a choice of service options:

  • Two year full-time clinical practice at an NHSC-approved site.
  • Two year half-time clinical practice at an NHSC-approved site.
  • Loan Repayment

    You will receive funds to repay your outstanding, qualifying, educational loans.

    NHSC loan repayment funds are exempt from federal income and employment taxes.

    Full-time service: Up to $50,000 for a two-year initial term

    Half-time service: Up to $25,000 for a two-year initial term

    Note: If you serve in a private practice, you aren’t eligible to practice half-time.

  • Complete Repayment of Qualifying Loans

    Once you complete the initial two-year service contract, you may be eligible to apply for additional loan repayment funds to pay any remaining educational loans through one-year continuation service contracts.

  • There is no guarantee that you will receive a continuation contract.
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    Watch The Nurse Corps Loan Repayment Program Webinar

    If all applicant requirements are met, your trainees may have an interest in participating

    Watch the Nurse Corps Loan Repayment Program Webinar HERE

    In this recording, program staff members:

    • Review eligibility requirements
    • Provide information about the application process
    • Review timelines of the application review process
    • Provide answers to frequently asked questions

    For additional information, visit the Nurse Corps Loan Repayment Program website and read the Application and Program Guidance . These two resources provide answers to many of your questions!

    Remember, the deadline to apply to the Nurse Corps Loan Repayment Program is Thursday, January 13, 2022. Theres still time to start your application today!

    Who Is Eligible For The Nurse Corps Loan Repayment Program

    National Health Service Corps Loan Repayment Program Now Accepting Applications …

    The Nurse Corps LRP will pay off a large chunk of your student loans if you meet eligibility requirements.

    To be eligible, you must first:

    • Be a U.S. Citizen, U.S. National or Lawful Permanent Resident, and provide documentation of your status
    • Earn a bachelors or associate degree in nursing, a diploma in nursing, or graduate or doctorate degree in nursing
    • Have outstanding qualifying student loans for your nursing degree
    • Hold a current and unrestricted license to practice as a Registered Nurse or Advanced Practice Registered Nurse . Your license should be in the state you are working.

    You must also be employed to be eligible for the Nurse Corps LRP. You can be employed as either:

  • An RN or APRN at a public or private nonprofit Critical Shortage Facility or
  • A nurse faculty member at a public or private nonprofit eligible school of nursing
  • With both of these options, you have to be working full time, at least 32 hours per week. Its important to note that you cant take part in this program if youre already under obligation or contract with another loan forgiveness program.

    If you meet all these eligibility requirements, you then apply and agree to a contract.

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    Health Centers: Share These Opportunities With Your Clinicians

    With $1 billion in additional funding through the American Rescue Plan, HRSA will be able to make a record-breaking number of awards this year. In 2021, the NHSC was able to award all eligible applicants, regardless of their sites HPSA score, making the largest numbers of awards in our history last year.

    ACU invites health centers to help HRSA reach their goal of awarding a record number of clinicians again this year while supporting your workforce:

    • Encourage your eligible clinicians to apply! Theres still time to begin your application.
    • Learn more by visiting the NHSC and Nurse Corps websites.

    How Much Debt Do Nurses Have

    The amount of debt students take on to earn their nursing degree varies widely from the school they choose to which degree they pursue. For instance, NerdWallet found that, on average, ADN-prepared nurses take on close to $20,000 in debt, BSN nurses, $23,711, and MSN-prepared nurses, over $47K.

    Thankfully, there are lots of loan forgiveness programs available to nurses.

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    Is This The Best Loan Repayment Option For Nurses

    This is an exceptionally fast forgiveness program for nurses who agree to work in a CSF. Programs like Public Service Loan Forgiveness take 10 years before you can earn forgiveness, making the Nurse Corps Loan Repayment Program worth it based on time alone.

    Location is a huge factor to consider as well but the options for work locations may be more plentiful than you think. To find approved Nurse Corps LRP job sites and current job openings, use the Health Workforce Connector tool. You may find some not too far from home.

    There are, of course, many more loan repayment options for nurses. Youll want to look into all of them, including those that are state-specific, before making your decision. If you need help reviewing your options for paying back your student loan debt, schedule a consultation with one of the professionals here at Student Loan Planner®.

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    Take our 11 question quiz to get a personalized recommendation of whether you should pursue PSLF, IDR forgiveness, or refinancing .

    Filed Under: Nurse / Nurse Practitioner

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    Student Loan Planner Disclosures

    NURSE Corps Loan Repayment Program

    Upon disbursement of a qualifying loan, the borrower must notify Student Loan Planner® that a qualifying loan was refinanced through the site, as the lender does not share the names or contact information of borrowers. Borrowers must complete the Refinance Bonus Request form to claim a bonus offer. Student Loan Planner® will confirm loan eligibility and, upon confirmation of a qualifying refinance, will send via email a $500 e-gift card within 14 business days following the last day of the month in which the qualifying loan was confirmed eligible by Student Loan Planner®. If a borrower does not claim the Student Loan Planner® bonus within six months of the loan disbursement, the borrower forfeits their right to claim said bonus. The bonus amount will depend on the total loan amount disbursed. This offer is not valid for borrowers who have previously received a bonus from Student Loan Planner®.

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    Apply to the NurseCorpsLoanRepayment Program. We pay up to 85% of unpaid nursing education debt for. registered nurses advanced practice registered nurses and. nurse faculty . If you receive an award, you must work two years in either: A Critical Shortage Facility An eligible nursing school, as nurse faculty .

    Navy Nurse Candidate Program According to the Navy, if you are a nursing student wishing to serve full-time in the Navy, you can receive up to $34,000 aid to pay for nursing school through the Nurse Candidate Program . Accepted candidates receive an initial grant in the amount of $10,000 and a monthly stipend of $1,000 for up to 24.

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    The application for the 2022 HRSA National Health Service CorpsLoanRepayment Programs is now available until February 3, 2022, at 7:30 pm ET. A historic $800 million in American Rescue Plan funding will allow HRSA to award more applicants than ever before. In exchange for a service commitment, eligible clinicians providing primary medical.

    For more information or questions please: Refer to the Portal FAQ Contact the BHW Customer Care Center at 1-800-221-9393 Use TTY for hearing impaired: 1-877-897-9910 Monday-Friday , 8:00 am to 8:00 pm ET or Contact Us..

    Other Ways To Pay Off Nursing Student Loans

    If you decide that the student loan forgiveness program is not right for you, or if youd like to explore other options, some of the other ways to pay off nursing student loan debt include:

    • Income-driven repayment plans: These plans are most appropriate for nurses whose debt is higher in comparison to their income, because their loan payments will be lower and based on their income. Using this plan, if you make payments on your federal IDR loans for 20 to 25 years, your remaining debt can be forgiven.
    • Travel nursing: Travel nursing can also be an option to help you pay back your student loan debt faster. Although travel nursing agencies may not offer specific student loan forgiveness, many offer different types of bonuses, as well as stipends that can help boost your pay. You could even work part-time travel nursing jobs in your local area in addition to a regular RN job to get additional income, if needed.
    • Refinancing your student loans: In some situations, it may also make financial sense to refinance your student loans to consolidate or lock in a lower interest rate from a private lender. Keep in mind that if you choose to refinance any federal student loans, however, they will become private loans, so you wont be eligible for any federal loan forgiveness programs on the balance.

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    Nhsc Substance Use Disorder Workforce Loan Repayment Program

    The NHSC SUD Workforce LRP combats the nations opioid crisis.

    Trained and licensed providers in eligible disciplines can receive loan repayment. You must use evidence-based treatment models to treat substance use disorders.

    In exchange, you serve at least two years at an NHSC-approved SUD treatment facility.

    What Are The Eligibility Requirements For Nclrp

    Enhancing Behavioral Workforce through the HRSA Nurse Corp Program

    According to the website, in order to be eligible for loan forgiveness, individuals must:

    • Be a U.S. citizen, U.S. National or Lawful Permanent Resident and provide supporting documents
    • Have earned a baccalaureate or associate degree in nursing , a diploma in nursing, or graduate or doctorate degree in nursing
    • Have employment as a full-time RN or APRN working at least 32 hours per week at a public or private nonprofit CSF or be employed as a full-time nurse faculty member at a public or private nonprofit, eligible school of nursing
    • Have outstanding qualifying educational loans leading to a diploma or degree in nursing
    • Have completed a nursing degree program for which the loan balance applies
    • Have a current, full, permanent, unencumbered, unrestricted license to practice as an RN, or an APRN if applicable, in the state in which they intend to practice, or be authorized to practice in that state pursuant to the Enhanced Nursing Licensure Compact

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    What Is The Public Service Loan Forgiveness Program

    The Public Service Loan Forgiveness Program forgives the remaining balance of all federal loans after the borrower has made a minimum of 120 qualifying monthly payments while working full-time for a qualifying employer. So, after ten years of loan payments, you could get the rest of your student loans paid off.

    The two caveats are:

  • You must not default on your loans
  • You must be using a qualifying repayment plan while working for a qualifying employer
  • Additional Loan Forgiveness Programs For Aprns

    Beyond the options we’ve listed here, there are loan forgiveness programs that are specific for advanced practice nurses only, including nurse practitioners, certified midwives, certified registered nurse anesthetists, and nurse educators.

    If you are interested in becoming an APRN, it is worthwhile to both check with your school as well as your current and prospective employers to see what kind of loan forgiveness may be available.

    And for nurses who don’t qualify for loan forgiveness, refinancing your student loans to a lower interest rate may be an option. The new loan replaces your old one, leaving you with a lower payment and/or a shorter payoff time frame. You can learn more about refinancing in our guide to refinancing nursing school student loan debt.

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    Nurse Corps Loan Repayment Program

    This funding record is inactive. Please see the program website or contact the program sponsor to determine if this program is currently accepting applications or will open again in the future.

    Nurse Corps Loan Repayment Program offers loan repayment assistance to registered nurses, nurse practitioners, advanced practice nurses, and nursing school faculty who agree to work at a Critical Shortage Facility or an eligible school of nursing.

    The program repays 60% of a qualifying educational loan balance in exchange for 2 years of service. Participants may be eligible to work a third year and receive an additional 25% of the qualifying loan balance.

    Applicants must:

    • Be a U.S. citizen, U.S. National, or Lawful Permanent Resident
    • Have earned a baccalaureate or associate degree in nursing , a diploma in nursing, or graduate or doctorate degree in nursing
    • Be employed as a full-time RN or APRN, defined as at least 32 hours per week, at a public or private Critical Shortage Facility or be employed as a full-time nurse faculty member at a public or private eligible school of nursing
    • Have outstanding qualifying educational loans leading to a diploma or degree in nursing
    • Have a current, unencumbered license to practice

    Repays 60% of a qualifying educational loan balance, with the option to work a third year and receive an additional 25%.

    Up to 20% of the funding allocated for nurse practitioners is available for psychiatric NPs.

    Nurse Corps Loan Repayment Program: Preparing Your Loan Information

    WEBINAR â 2021 Nurse Corps: Special Funding for Nurses Specializing in ...

    Date: December 15, 2021

    The Nurse Corps Loan Repayment Program application deadline is .

    Your application must include information on your unpaid student loans to support undergraduate or graduate education and training for your nursing degree. Loan information is covered on pages 13-14 of the Application and Program Guidance.

    Acceptable loans include those:

    • Obtained by the applicant to cover school tuition and reasonable educational and living expenses associated with prerequisite and in-program course completion of their nursing degree.

    Unacceptable loans include those which are:

    • Obtained for non-nursing degrees or obtained for training in vocational or practical nursing.
    • Not obtained from a government entity or private commercial student lending institution.
    • Primary Care Loans
    • Parent PLUS Loans, which are under a parents name.
    • Obtained from entities not subject to federal of state examination as lenders
    • Subject to cancellation

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