How long did it take you to repay your loans? Advice appreciated!!

[stroom]

I just started out in Sept and had just finally finished paying off my undergrad this summer. Being in Canada I think our programs are a fair amount cheaper? But anyhow, living very frugally (my car is parked right now), I am thinking I will come out around 50k in debt, possibly closer to 60? I think the key for all of us to remember is that with loans of 50 to 100 to 150k, the interest you pay when you prolong it is absolutely ridiculous. Keeping a long term view, ie. retirement, you are much much better off keeping a frugal lifestyle and working your butt off for the first couple of years and minimizing the debt so that you dont end up paying it off two or three times over. I plan on paying it off in a max of two years after I finish and then moving on with my life.

 

**removing self from soap box**

[dhageremtp]

What about taxes? 80k means you go home with 50-55k right? Or are there some breaks for paying back loans?

 

There are no taxes, its a direct government program for which federal taxes are not required. Most states also do no require you to pay any taxes, however NHSC recommends you talk with a tax professional to be sure about your state situation.

[dhageremtp]

Well, the day that I made this post there were 17 OPEN (not "approved sites", but sites that actually had openings) spots. Today there are 31. In case you don't believe me:

1. Alaska- 2 jobs

2. Arizona- 1 job

3. California (northern)- 2

4. Connecticut- 1

5. Florida- 2

6. Georgia- 2

7. Hawaii- 1

8. Kentucky- 3

9. Michigan- 1

10. New Mexico- 1

11. New York- 2

12. North Carolina-2

13. Oklahoma- 4

14. South Dakota- 1

15. Texas- 4 (1 in San Antonio, 3 on the border of Mexico, Texas, and New Mexico...SCARY. I'd rather NOT have loan repayment than relocate my family there).

 

So yes, I went state by state and that's the entire market (as far as NHSC) is concerned. It'll be tough as a new grad to get what you currently have (which would be our DREAM option) of $85K plus NHSC. But again, doesn't look good.

 

 

Make sure when you search you are also looking at the Nurse Practitioner or Physician Assistant option, not just the Physician Assistant option, as many positions are open to either and listed as such. For example if you only search PA in Alaska there are 2 jobs that are Loan Repayor, but if you search the Nurse Practitioner or Physician Assistant option there are 10 more openings. North Dakota has 9 openings you didnt even list, so check again.

[Skilltor]

Please keep the reply's coming! I am learning a lot! Thanks, guys!

[joanna.nola]

My understanding, which comes from grads from my program and from research my research of NHSC, is that if you get a job at a qualifying clinic you can THEN apply to NHSC. The clinic has to be a federally qualified clinic. Not every clinic that qualifies lists that job at NHSC. In fact, on grad I shadowed took a rural job without even knowing what NHSC was. Once she was there the doc she worked with said: you should apply for the NHSC. So the loan repayment was a very welcome surprise to her. Look around in your area at clinics that serve uninsured and medicaid patients. They probably qualify.