paquar Posted June 15, 2013 Share Posted June 15, 2013 Im trying to track down information about how loan forgiveness works. Does anyone have any resources on how this works? Which agencies do this ? How do you find out if a site qualifies ? The information on the web doesn't seem clear Thanks Link to comment Share on other sites More sharing options...
Jengirl81 Posted June 15, 2013 Share Posted June 15, 2013 It's called NHSC- National Health Scholarship Corp. Loan Repayment Program. You basically go to the website and search for a position and apply for the job. Your benefits are independent of the loan repayment and must be negotiated by the employer. For 2 years of service, you will receive 60,000 dollars to pay off loans... And can continue to work there until all are payed off. I worked at a site for 5 years (3 were under the program). When you get the job and then get accepted to the program, you literally get a check in the bank for 60 grand that you then deposit to loan account. Some NHSC sites you are generally in the trenches. Mine was just in an underserved area and we saw a certain amount of Medicaid....but also had a higher clientele with commercial insurance. You must work in primary care or mental health to get this. Link to comment Share on other sites More sharing options...
Guest JMPA Posted June 15, 2013 Share Posted June 15, 2013 loans are a sin Link to comment Share on other sites More sharing options...
Moderator True Anomaly Posted June 15, 2013 Moderator Share Posted June 15, 2013 loans are a sin Did your "Give an F" meter run out? You're on a little roll today Link to comment Share on other sites More sharing options...
david89 Posted June 21, 2013 Share Posted June 21, 2013 hi so it's the salary from the job usually lower than national average since they know you got the NHSC repayment program? thank you It's called NHSC- National Health Scholarship Corp. Loan Repayment Program. You basically go to the website and search for a position and apply for the job. Your benefits are independent of the loan repayment and must be negotiated by the employer. For 2 years of service, you will receive 60,000 dollars to pay off loans... And can continue to work there until all are payed off. I worked at a site for 5 years (3 were under the program). When you get the job and then get accepted to the program, you literally get a check in the bank for 60 grand that you then deposit to loan account. Some NHSC sites you are generally in the trenches. Mine was just in an underserved area and we saw a certain amount of Medicaid....but also had a higher clientele with commercial insurance. You must work in primary care or mental health to get this. Link to comment Share on other sites More sharing options...
NAP1986 Posted June 21, 2013 Share Posted June 21, 2013 National Health Service Corps is the most obvious (http://nhsc.hrsa.gov/loanrepayment/), but I think they only go up to $60,000 and most people I know graduate with more debt than that, and it comes with a service requirement. You can also do the Public Service Student Loan Forgiveness (http://studentaid.ed.gov/sites/default/files/public-service-loan-forgiveness.pdf). As long as you work at a "nonprofit" or government agency, it qualifies. Many major hospitals are technically non-profits because they give out a certain percentage of charity care. You make 120 income-based repayments and then it's forgiven. An income-based repayment is usually substantially lower than the minimum payment of a ten-year loan term, depending on the size of your loan. Also if you don't work at a non-profit, there is a federal income-based repayment option, but there is no point after which it is all forgiven (Income Based Repayment http://www.whitehouse.gov/blog/2012/06/07/income-based-repayment-everything-you-need-know) Hope that helps! Link to comment Share on other sites More sharing options...
ssiegelpa Posted June 21, 2013 Share Posted June 21, 2013 For the Loan Forgiveness, do you happen to know if the 120 payments have to made while working at the "non-profit" agency? I ask because I have been out of PA school for about 6 yrs now, meaning I have definitely made over 120 payments to my loans. However, I have only been working at my current job which would be considered a "non-profit" agency for the past year. National Health Service Corps is the most obvious (http://nhsc.hrsa.gov/loanrepayment/), but I think they only go up to $60,000 and most people I know graduate with more debt than that, and it comes with a service requirement. You can also do the Public Service Student Loan Forgiveness (http://studentaid.ed.gov/sites/default/files/public-service-loan-forgiveness.pdf). As long as you work at a "nonprofit" or government agency, it qualifies. Many major hospitals are technically non-profits because they give out a certain percentage of charity care. You make 120 income-based repayments and then it's forgiven. An income-based repayment is usually substantially lower than the minimum payment of a ten-year loan term, depending on the size of your loan. Also if you don't work at a non-profit, there is a federal income-based repayment option, but there is no point after which it is all forgiven (Income Based Repayment http://www.whitehouse.gov/blog/2012/06/07/income-based-repayment-everything-you-need-know) Hope that helps! Link to comment Share on other sites More sharing options...
NAP1986 Posted June 21, 2013 Share Posted June 21, 2013 For the Loan Forgiveness, do you happen to know if the 120 payments have to made while working at the "non-profit" agency? I ask because I have been out of PA school for about 6 yrs now, meaning I have definitely made over 120 payments to my loans. However, I have only been working at my current job which would be considered a "non-profit" agency for the past year. I am afraid I don't know the answer to that. I would call a representative from a program to get the facts, then call your lending company. Link to comment Share on other sites More sharing options...
UpRegulated Posted June 21, 2013 Share Posted June 21, 2013 For the Loan Forgiveness, do you happen to know if the 120 payments have to made while working at the "non-profit" agency? I ask because I have been out of PA school for about 6 yrs now, meaning I have definitely made over 120 payments to my loans. Unless you are making more than one payment a month, you have a ways to go. 120 payments = 10 years if you make one payment per month. However, I have only been working at my current job which would be considered a "non-profit" agency for the past year. You have to be at a qualified government or non-profit for the full 120 payments (10 years). Link to comment Share on other sites More sharing options...
Moderator LT_Oneal_PAC Posted June 22, 2013 Moderator Share Posted June 22, 2013 And it can only be loans that you have consolidated with the federal gov't. So you can't consolidated all your loans with them for 6 years, then go to PA school and just pay those for 4 years. And yeah, 120 payments is 10 years. Link to comment Share on other sites More sharing options...
cinntsp Posted June 22, 2013 Share Posted June 22, 2013 IHS and various states also offer loan repayment options. Link to comment Share on other sites More sharing options...
68W2PA Posted June 22, 2013 Share Posted June 22, 2013 With a 6 year commitment, the Army National Guard pays $75k in loan repayment (paid over 3 years) and then gives $20k a year for three years. Several of our PAs went this route. Then if you work for the VA or a non-profit, you can double up on repayment benefits or forgiveness programs. Link to comment Share on other sites More sharing options...
orielee Posted August 1, 2013 Share Posted August 1, 2013 In Pittsburgh, PA and like most need help with debt. How do I find medical underserved community jobs? Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.