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Loan repayments through NHSC, big money!


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I just received my award from the NHSC and it couldn’t have been easier. I work in a relatively rural area and because of this I received a $100,000 check to pay off my loans, for only a three year commitment to stay at my current location. The application took me 30 minutes and once they approved it I had the money in my bank account two months later. It was such a relief to pay off half my loans so easily so I wanted to put this out there for anyone who doesn’t know. Shoot me any questions.

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I would like to get more details as well.  

You went online, spent 30 minutes, promised to work somewhere for 3 years, and the guvment gave you $100K?

What are the rest of the details?  What is the job, how much are you making, what happens if you leave (fired? parent has a stroke and you have to move home?  Kid needs to live close to tertiary care?) in 2.5 years?  

And that is only HALF of your loans??

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On 12/11/2021 at 12:24 PM, Boatswain2PA said:

I would like to get more details as well.  

You went online, spent 30 minutes, promised to work somewhere for 3 years, and the guvment gave you $100K?

What are the rest of the details?  What is the job, how much are you making, what happens if you leave (fired? parent has a stroke and you have to move home?  Kid needs to live close to tertiary care?) in 2.5 years?  

And that is only HALF of your loans??

My husband's was able to qualify for the 50k/2yr commitment. Application took an hour or so. It's the easiest when you just have fed loans to prove. If you have private loans it takes a little more leg work. Your facility has to have a high enough score(I think atleast 14 to be competitive). They like to see an applicant willing to stay in their area after the contract is up(not sure if that's a make or break thing). They ask such questions on the application. His facility is a CAH. He does clinic and ER call. You have to do 40hrs/week primary care no less than a 4day week(I think some time can be admin time, I forget). You have to track your days and report every 6 months and get verification from employer. You can't go over I believe 35 days/year of vac,sick, and cme time or you have to make up days on your contract. If something crazy unforseen thing happens and you have to miss a bunch of days past your 35, then they can work with you, but you must fulfill the contract. If your job ends up being crappy, then you have to stick it out or find another qualified facility to work at. If you get fired, same scenario. If you want to break the contract after you have received the funds, then it's not pretty. They have a calculator on their portal to figure out payback with interest and penalties. You don't want to break it. They do give you 60 days from the time the contract is signed by both parties to cancel the contract. They have let people out of the contract past the 60 days but before they disburse funds which usually happens at the 90 day mark of contract commencing. You want to make sure you will commit to it. No turning back. My husband's experience was pretty smooth sailing. The only annoyance was his work contract and NHSC contract didn't line up, so calculating days off and when they could be used was a little hassle. If you can get the initial contract doing a renewal on a year to year basis is pretty easy, even if your facility score goes down you can possibly get a renewal.

Edited by JC40
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31 minutes ago, SunniLeah said:

Hi! Did you have to work at your job for a certain amount of time before applying for this program? Also, it 100,000 the max you can receive or will they offer more if you continue to work at your job after the initial commitment? 

No, you don't have to work at your job for a certain time. I would at least get an idea if your work is a good enough environment that you can commit to working that long there. Application deadline varies, but there are months in between deadline, approval, and contract start time. So you can always cancel the contract in the 60day window if you think things won't work out. The tricky thing for us was my husband's employment contract was from Feb-Feb, but the NHSC contract was from Sept-Sept. So you gotta know whether you are going to stay longer. There are a few different programs based on the type of facility. https://nhsc.hrsa.gov/loan-repayment/nhsc-all-loan-repayment-programs-comparison

50k/2yrs was full time for primary care.

100k/3yrs is for a different type of facility. They offer part-time which is half the money.

The 50k/2yr program offers renewal on a yr to yr basis at a reduced amount. I think 20k/yr for year 3 and goes down every year up to 5 yrs.

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On 2/19/2022 at 11:39 PM, JC40 said:

My husband's was able to qualify for the 50k/2yr commitment. Application took an hour or so. It's the easiest when you just have fed loans to prove. If you have private loans it takes a little more leg work. Your facility has to have a high enough score(I think atleast 14 to be competitive). They like to see an applicant willing to stay in their area after the contract is up(not sure if that's a make or break thing). They ask such questions on the application. His facility is a CAH. He does clinic and ER call. You have to do 40hrs/week primary care no less than a 4day week(I think some time can be admin time, I forget). You have to track your days and report every 6 months and get verification from employer. You can't go over I believe 35 days/year of vac,sick, and cme time or you have to make up days on your contract. If something crazy unforseen thing happens and you have to miss a bunch of days past your 35, then they can work with you, but you must fulfill the contract. If your job ends up being crappy, then you have to stick it out or find another qualified facility to work at. If you get fired, same scenario. If you want to break the contract after you have received the funds, then it's not pretty. They have a calculator on their portal to figure out payback with interest and penalties. You don't want to break it. They do give you 60 days from the time the contract is signed by both parties to cancel the contract. They have let people out of the contract past the 60 days but before they disburse funds which usually happens at the 90 day mark of contract commencing. You want to make sure you will commit to it. No turning back. My husband's experience was pretty smooth sailing. The only annoyance was his work contract and NHSC contract didn't line up, so calculating days off and when they could be used was a little hassle. If you can get the initial contract doing a renewal on a year to year basis is pretty easy, even if your facility score goes down you can possibly get a renewal.

This sounds good. Moral of the story,  make sure u find a good place of work with great teamwork

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On 2/19/2022 at 10:39 PM, JC40 said:

My husband's was able to qualify for the 50k/2yr commitment. Application took an hour or so. It's the easiest when you just have fed loans to prove. If you have private loans it takes a little more leg work. Your facility has to have a high enough score(I think atleast 14 to be competitive). They like to see an applicant willing to stay in their area after the contract is up(not sure if that's a make or break thing). They ask such questions on the application. His facility is a CAH. He does clinic and ER call. You have to do 40hrs/week primary care no less than a 4day week(I think some time can be admin time, I forget). You have to track your days and report every 6 months and get verification from employer. You can't go over I believe 35 days/year of vac,sick, and cme time or you have to make up days on your contract. If something crazy unforseen thing happens and you have to miss a bunch of days past your 35, then they can work with you, but you must fulfill the contract. If your job ends up being crappy, then you have to stick it out or find another qualified facility to work at. If you get fired, same scenario. If you want to break the contract after you have received the funds, then it's not pretty. They have a calculator on their portal to figure out payback with interest and penalties. You don't want to break it. They do give you 60 days from the time the contract is signed by both parties to cancel the contract. They have let people out of the contract past the 60 days but before they disburse funds which usually happens at the 90 day mark of contract commencing. You want to make sure you will commit to it. No turning back. My husband's experience was pretty smooth sailing. The only annoyance was his work contract and NHSC contract didn't line up, so calculating days off and when they could be used was a little hassle. If you can get the initial contract doing a renewal on a year to year basis is pretty easy, even if your facility score goes down you can possibly get a renewal.

Sorry for the late response here, I don't come here very often anymore.

So hubby got $50K for a 2 year commitment.  That's a big difference from what the OP inferred.

I believe you have to do a MINIMUM of 40 hrs/week and no less than 4 days/week for the program you describe.  

How much is hubby paid by the CAH for this job?  How much could he be making if he went elsewhere?

Like many things in life, these programs are a risk.  You may get paid well, work at a great place, AND get $100K of loans paid off.

Or you may inadvertently take a job paying $50K/year less than you could have gotten, at a terribly run shop where everyone backstabs you and the management is more worried about patient satisfaction scores than good medicine (there are a LOT of these places), and you feel trapped because you feel like you HAVE to stay.

 

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On 3/13/2022 at 11:24 PM, Boatswain2PA said:

Sorry for the late response here, I don't come here very often anymore.

So hubby got $50K for a 2 year commitment.  That's a big difference from what the OP inferred.

I believe you have to do a MINIMUM of 40 hrs/week and no less than 4 days/week for the program you describe.  

How much is hubby paid by the CAH for this job?  How much could he be making if he went elsewhere?

Like many things in life, these programs are a risk.  You may get paid well, work at a great place, AND get $100K of loans paid off.

Or you may inadvertently take a job paying $50K/year less than you could have gotten, at a terribly run shop where everyone backstabs you and the management is more worried about patient satisfaction scores than good medicine (there are a LOT of these places), and you feel trapped because you feel like you HAVE to stay.

 

Yes,that is correct about the program he was in. He could use 35 days for vacation/cme/sick time.

What the OP described is an accurate program. The OP is at a different type of facility that can be awarded a different amount. 

We didn't go to the CAH job just for the loan repayment. Even though the facility qualified, there isn't a guarantee you will be approved. We looked at all our job offers and felt the job we took was the best fit and if he got approved for the loan repayment it would be icing on the cake. 

He started 3 yrs ago making 125k a year doing clinic and doing ER call(one day a week, one weekend/month) The CAH pays for all our family's medical and dental premiums(about 18k a year) good medical coverage along with other typical benefits. He now makes around 154k. 

Yes, like you mentioned some CAH will low ball your salary thinking you will get loan repayment. People should always think of it as icing in the cake. 

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