Empowerment for Student Success Broward College ALERT “OCCUPATIONAL FORGIVENESS” ADVISORY NURSE CORPS LOAN REPAYMENT PROGRAM

Can my student loans be forgiven…? Empowerment for Student Success Can my student loans be forgiven…?

Empowerment for Student Success THERE ARE CIRCUMSTANCES IN WHICH STUDENT LOANS MAY BE ‘DISCHARGED’…  DEATH  DISABILITY  SCHOOL CLOSURE  OCCUPATIONAL CHOICES  IDENTITY THEFT  FALSE LOAN CERTIFICATION  BANKRUPTCY (ONLY VERY RARE EXCEPTIONS)

OCCUPATIONAL FORGIVENESS NURSE CORPS LOAN REPAYMENT PROGRAM Empowerment for Student Success OCCUPATIONAL FORGIVENESS NURSE CORPS LOAN REPAYMENT PROGRAM 85% repayment of your educational loans (leading to eligible degrees in nursing); Registered nurses (including nurse practitioners); …and/or Nurse Faculty. MUST AGREE TO…maximum…3 YEARS of service. ELIGIBILITY: A U.S. Citizen, U.S. national or lawful permanent resident. Have a nursing degree. Have current full, permanent, unencumbered, unrestricted RN license valid in the state in which the applicant is employed. Has outstanding “qualified” nursing loans.

TYPES OF AWARDS: OCCUPATIONAL FORGIVENESS Empowerment for Student Success OCCUPATIONAL FORGIVENESS NURSE CORPS LOAN REPAYMENT PROGRAM TYPES OF AWARDS: INITIAL 2-YEAR AWARD…Equal to 60% of current loan balance in return for a 2-year service commitment at a “Critical Shortage Facility” CONTINUATION AWARD…25% additional of the original loan balance for a 3rd year of service. AWARDS SUBJECT TO…Federal taxes.

Empowerment for Student Success OCCUPATIONAL FORGIVENESS NURSE CORPS LOAN REPAYMENT PROGRAM TYPES OF: “CRITICAL SHORTAGE FACILITIES” (CSF) Critical Access Hospital Disproportionate Share Hospital Federally-Qualified Health Center and “Look-Alikes” Indian Health Service Health Center Native Hawaiian Health Center Public Hospital Rural Health Clinic Skilled Nursing Facility State/Local Public Health and/or Human Services Department Home Health Agency Hospice Program Non-Profit, Non-Disproportionate Share Hospital Nursing Home Ambulatory Surgical Center

Empowerment for Student Success OCCUPATIONAL FORGIVENESS NURSE CORPS LOAN REPAYMENT PROGRAM REASONS FOR A “DENIAL” Judgment liens arising from Federal debt. Existing service obligations. Defaulted on any Federal payment or service obligation. Any existing Federal, State or local government debt written off as “uncollectable”. Currently excluded, debarred, suspended, or disqualified by a Federal agency from participating in a covered transaction. Employed by a staffing or travel nurse agency. Working on an ‘as-needed’ (PRN) basis. Have a temporary or inactive nursing license. Licensed as an LPN or vocational nurse. Are self-employed. Work for a for-profit facility or a for-profit school of nursing.

OCCUPATIONAL FORGIVENESS NURSE CORPS LOAN REPAYMENT PROGRAM Empowerment for Student Success OCCUPATIONAL FORGIVENESS NURSE CORPS LOAN REPAYMENT PROGRAM “INELIGIBLE” SITES… Free standing clinics (exception: nurse managed). Renal Dialysis centers. Private practice offices. Assisted living facilities. Clinics in prisons and correctional facilities. Private (for-profit) facilities.   LOAN PAYMENTS…Monthly…via direct deposit. “IN-SERVICE VERIFICATION”…Required every 6 months.

OCCUPATIONAL FORGIVENESS NURSE CORPS LOAN REPAYMENT PROGRAM Empowerment for Student Success OCCUPATIONAL FORGIVENESS NURSE CORPS LOAN REPAYMENT PROGRAM 5 STEPS TO AWARDS: 1. READ APPLICATION and PROGRAM GUIDANCE (APG)…see hyperlink at end of this presentation. 2. GATHER required documents. a. Proof of Citizenship b. Transcripts c. Curriculum/Vitae/Resume d. “Loan Documentation” (Loans “subject to forgiveness” must have proof the loan is not subject to cancellation).

OCCUPATIONAL FORGIVENESS NURSE CORPS LOAN REPAYMENT PROGRAM Empowerment for Student Success OCCUPATIONAL FORGIVENESS NURSE CORPS LOAN REPAYMENT PROGRAM 5 STEPS TO AWARDS: 3. COMPLETE on-line application… Deadline: February 27, 2014 by 7:30 PM. a. All documents must be scanned and uploaded. b. Provide employment verification (may take up to 5 days…so don’t wait until the last minute). c. Upload loan documentation. i. Account Statements ii. NSLDS Disbursement Reports Link: http://www.nslds.ed.gov/nslds_SA/ d. “HRSA Nurse Corps Loan Repayment Program Authorization to Release Form” --- SIGNED, SCANNED & UPLOADED.

OCCUPATIONAL FORGIVENESS NURSE CORPS LOAN REPAYMENT PROGRAM Empowerment for Student Success OCCUPATIONAL FORGIVENESS NURSE CORPS LOAN REPAYMENT PROGRAM 5 STEPS TO AWARDS: 4. Applicant REVIEW… a. Information from other sources also used to determine “ELIGIBILITY”: i. National Practitioner Data Bank, etc. b. Applicants ranked based upon data collected: i. Funding preferences used to determine sequential order in which applicants are considered; ii. Preference given to applicants with the greatest financial need (loan debt to salary ratio – 20% or greater); iii. Applicants grouped into “Funding Performance Tiers”.

OCCUPATIONAL FORGIVENESS NURSE CORPS LOAN REPAYMENT PROGRAM Empowerment for Student Success OCCUPATIONAL FORGIVENESS NURSE CORPS LOAN REPAYMENT PROGRAM 5 STEPS TO AWARDS: 5. SELECTION for Award: a. “Confirmation of Interest” is sent to those recommended for award… i. Confirm the practice site and loan amount; ii. Accept or decline the terms of the Nurse Corps LRP; iii. Provide banking information. b. Documents sent to “Award Recipients”… i. Signed contract; ii. Award Letter; iii. Payment Authorization Worksheet; iv. Receive “Welcome Packet”.

Empowerment for Student Success OCCUPATIONAL FORGIVENESS ADVISORY NURSE CORPS LOAN REPAYMENT PROGRAM THIS INFORMATION PROVIDED BY: BROWARD COLLEGE STUDENT FINANCIAL SERVICES OBTAIN THE FEDERAL APPLICATION (AND MORE DETAILS) BY CLICKING ON: http://www.hrsa.gov/loanscholarships/repayment/nursing/