PA Student Loans Forgiveness and Hazard Pay Questions

[PolakPA]

1. There has been increasing media attention in regard to student loan forgiveness for health care professionals. However, every time the media addresses this they always spin it as "doctors, nurses, and other healthcare professionals may receive". An example of this can be found in the article https://www.nbcnews.com/news/us-news/these-medical-workers-are-tackling-coronavirus-they-re-also-saddled-n1182211. This begs the question, If these benefits were possibly included in another stim bill how likely are we to be forgotten? 

2. Also I see hazard pay is becoming a hot topic that some regions have adopted, while others not so much. Do ya'll think this will become more of a universal benefit for PAs during the remainder of this crisis?

Edited April 16, 2020 by PolakPA
wording

[Mayamom]

In my opinion for what that's worth the government is offering too many things at once.  There is no way to sustain it.  If your a student or a new graduate plan to get a job hopefully one that you will enjoy & get out of debt as fast as possible.  Don't plan to rely on anything the govt offers.    Again just my opinion and I have been out of debt for years.  

[rev ronin]

Student loan forgiveness is a bailout for the banks, not the practitioners.  It actively discriminates against those of us who paid off our loans aggressively and/or never took out any to begin with.

Loan forgiveness programs are taxed as income, so why not just give the people money?  Oh, right, because it's the banks pushing for it.

[mgriffiths]

20 hours ago, rev ronin said:

Loan forgiveness programs are taxed as income, so why not just give the people money?

Exactly...

[DarwinStarwin]

Regarding hazard pay. The local hospital union is lodging a complaints with the hospital system because hazard pay isn't being considered during times of cv19 negotiations (amongst other things.)

Also some rifts in the md and nursing world due to increased utilization of locums which pays far higher than the OT and no hazard pay of the real heroes who stick around during the tough times. Everyone doing the same thing.

Its all a trip.

[LT_Oneal_PAC]

On 4/16/2020 at 1:19 PM, rev ronin said:

Student loan forgiveness is a bailout for the banks, not the practitioners.  It actively discriminates against those of us who paid off our loans aggressively and/or never took out any to begin with.

Loan forgiveness programs are taxed as income, so why not just give the people money?  Oh, right, because it's the banks pushing for it.

Public service loan forgiveness is tax free.

[mgriffiths]

10 hours ago, LT_Oneal_PAC said:

Public service loan forgiveness is tax free.

If you are successful getting it...the track record hasn't been great.

[rev ronin]

12 hours ago, LT_Oneal_PAC said:

Public service loan forgiveness is tax free.

Yep, but it also is restricted to what you're doing.  Much like the GI bill, it comes with a LOT of strings and conditions.  Know a guy in Alaska who's getting it; he has to track how many days he's actually in clinic, to document his eligibility, so no extra time off when a locums comes to town to help...

[LT_Oneal_PAC]

1 hour ago, rev ronin said:

Yep, but it also is restricted to what you're doing.  Much like the GI bill, it comes with a LOT of strings and conditions.  Know a guy in Alaska who's getting it; he has to track how many days he's actually in clinic, to document his eligibility, so no extra time off when a locums comes to town to help...

That’s weird. Not saying it isn’t true, but I just send a form yearly from my employer confirming I worked full time (at least 32 hours per week on average) and they confirm my number of qualifying payments. You’re right though. Lots of strings attached. Can’t work for a private EM group that contracts with the hospital, which limits my job options. 

 

3 hours ago, mgriffiths said:

If you are successful getting it...the track record hasn't been great.

Reddit PSLF subgroup actually has more success stories than complaints. Most people who were denied didn’t fully understand the rules and either didn’t consolidate loans, didn’t realize their paycheck came from a contractor and not the non-profit employer, or weren’t in a qualifying payment plan. Initially there was a lot of confusion by even loan servicers and a lot of misinformation was given out. I recertify every year and currently have 64 qualifying payments out of 120 and on track for 1/2025 forgiveness.

[mgriffiths]

23 minutes ago, LT_Oneal_PAC said:

That’s weird. Not saying it isn’t true, but I just send a form yearly from my employer confirming I worked full time (at least 32 hours per week on average) and they confirm my number of qualifying payments. You’re right though. Lots of strings attached. Can’t work for a private EM group that contracts with the hospital, which limits my job options. 

 

Reddit PSLF subgroup actually has more success stories than complaints. Most people who were denied didn’t fully understand the rules and either didn’t consolidate loans, didn’t realize their paycheck came from a contractor and not the non-profit employer, or weren’t in a qualifying payment plan. Initially there was a lot of confusion by even loan servicers and a lot of misinformation was given out. I recertify every year and currently have 64 qualifying payments out of 120 and on track for 1/2025 forgiveness.

Honestly hope it works for you!

[Cideous]

I used every dime of my GI bill back I the day.  Could not of been easier.

[CAdamsPAC]

14 hours ago, LT_Oneal_PAC said:

Public service loan forgiveness is tax free.

Making $110K a year in a private employment is far from "public service"!

 

[MusicalPA]

My husband got the NHSC service loan repayment. It is $50,000 for a 2 yr commitment. They gave the money in one lump sum, so you still make your normal payments. Lots of string attached. Track hours, can't miss more than 35 days a year including holidays. You have to fill out a form every 6 months for your hours and days. So far, so good.