Education Loan Repayment Program for RHCs
Nurse Corps Loan Repayment Program Now Open to For-Profit and Not-For-Profit RHCs
Joe Lampard, VP, HPSA Acumen
The Nurse Corps Loan Repayment Program has in the past only been open to non-profit RHCs. As of 2021 they now are accepting for-profit RHC applicants. The program forgives 60% of the nurse’s education debt over a two-year period with the option to renew for a third year for a total of 85% of the nurse’s education debt forgiven.
Eligible providers are RN’s and PRN’s including NP’s, CNM’s, CNS’s, CRNA’s, and nurse faculty. They ask that the nurse work 32 hours per week or 128 hours per month. Keep in mind that your debt-to-income ratio is strongly considered. The higher your debt-to-income ratio the greater your chances for receiving the funds.
In 2020, the lowest HSPA score of RHC’s that received an award was 16. The higher your HPSA score the greater your chances for receiving funding. For Critical Access Hospitals the lowest score funded was 14, for public hospitals 8, and for private hospitals 12. To find your facilities score go to: https://data.hrsa.gov/tools/shortage-area/by-address.
As for 2021, the scoring threshold will depend on how many people apply, how many applicants reapply for year three, and of course the amount the program is funded. We strongly recommend applying since the amount of the award is potentially so high. This program window will close on February 25th, 2021. Find more information here: https://bhw.hrsa.gov/funding/apply-scholarship/nurse-corps.
Other sites that are considered eligible are hospitals, hospital-based outpatient clinics, FQHCs, urgent care centers, free and charitable clinics, ESRD dialysis centers, home health agencies, hospice, residential nursing homes, and ambulatory surgical centers.
Joseph Lampard, VP
HPSA Acumen, Inc.