What is NHSC Loan Repayment Program?

The National Health Service Corps (NHSC) Loan Repayment Program (LRP) offers primary medical, dental, and mental and behavioral health care clinicians the opportunity to have their student loans repaid, while earning a competitive salary, in exchange for providing health care in urban, rural, or tribal communities with …

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Besides, what happens if you never pay your student loans?

Let your lender know if you may have problems repaying your student loan. Failing to pay your student loan within 90 days classifies the debt as delinquent, which means your credit rating will take a hit. After 270 days, the student loan is in default and may then be transferred to a collection agency to recover.

Subsequently, what is a loan repayment? Repayment is the act of paying back money borrowed from a lender. Repayment terms on a loan are detailed in the loan’s agreement which also includes the contracted interest rate. Federal student loans and mortgages are among the most common types of loans individuals end up repaying.

Furthermore, how much is the NHSC Loan Repayment?

1) Full-Time Clinical Practice. The NHSC will pay up to $20,000 ($25,000 with DATA 2000 waiver) for the first additional year of full-time clinical practice defined as no less than 40 hours per week, for a minimum of 45 weeks a year. 2) Half-Time Clinical Practice.

Can I do NHSC and PSLF?

If you qualified for both programs simultaneously, after two years of NHSC, you could potentially get $50,000 in assistance. This only counts as one payment, so you need another 119 payments to be eligible for PSLF.

When are NHSC scholarships awarded?

The scholarship program application opens in spring of each year and applications are usually due by late-April each year. Sign up to receive an email from the NHSC when the application program opens. Applicants chosen to receive the scholarship are notified no later than September 30.

When does the NHSC loan Repayment application open?

November 2, 2021

What specialty qualifies for NHSC?

Primary Care Medical

Disciplines Specialties
Physicians Allopathic (MD) Osteopathic (DO) Family Medicine General Internal Medicine General Pediatrics Obstetrics/Gynecology Geriatrics
Physician Assistants (PA) Nurse Practitioners (NP) Adult Family Pediatric Women’s Health Geriatrics
Certified Nurse-Midwives (CNM) N/A

What is HRSA loan repayment?

The NHSC Loan Repayment Program (NHSC LRP) awards up to $50,000 in exchange for a two-year commitment to provide primary medical, dental or mental/behavioral health care at approved sites in high-need, underserved areas.

What is an NHSC site?

NHSC-approved sites provide outpatient, primary health care services to people in Health Professional Shortage Areas (HPSAs) Sites must contact their State Primary Care Office (PCO) when applying for, or inquiring about, a HPSA designation.

What is Sud workforce?

To combat the nation’s opioid crisis, HRSA launched the NHSC Substance Use Disorder Workforce Loan Repayment Program (SUD Workforce LRP). The most effective treatment for opioid addiction is a comprehensive approach that incorporates medication and behavioral health counseling.

Is NHSC taxable?

The stipend payment portion of an NHSC scholarship award is subject to federal income tax and the Federal Insurance Contributions Act (FICA) tax. … The tuition, eligible fees, and other reasonable costs’ portions of the scholarship award are not subject to federal taxes.

How can I get out of NHSC?

If eligible for a transfer, we will give you a certain timeframe in which to obtain employment at an NHSC-approved site. Note: Approval of a transfer or reassignment is at our discretion, and available service opportunities may not be in your preferred geographic area.

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