E. BENEFITS
1. Loan Repayments
The NHSC LRP will provide funds to program participants
to repay their outstanding qualifying educational loans
(See Section F).
- The NHSC LRP will pay up to $50,000 for two years of
service, based on the participant’s outstanding balance
of qualifying educational loans. If the total amount
of the participant’s qualifying educational loans is less
than $50,000, the NHSC LRP will pay the remaining
balance of the total qualifying educational loans
(as quoted in a pay off balance provided by the lender/holder)
for two years of service.
- All loan repayments paid to the participant must be
used by the participant to repay the approved qualifying
educational loans during his/her contract period and
must be applied within 30 days of receipt of funds.
2. Method of Disbursing Payment
To assist NHSC LRP participants in reducing their educational
debts in a shorter period of time and reduce the cost of
these loans to the Federal government, the NHSC LRP will
disburse payments to participants in the form of a lump
sum payment. The lump sum payment will be electronically
issued to the participants approximately 90 days after their
contract start date.
Applicants should be aware that most lenders will expect
you to continue to make monthly payments after you have
applied the lump sum loan repayment award.
Note: Under the Treasury Offset Program, the
Treasury Department is authorized to offset NHSC LRP payments
for delinquent Federal and State debts, including delinquent
child support payments.
3. Salary
The NHSC LRP participant will receive a salary and benefits
from the employing approved NHSC community site. Employment
compensation packages are negotiated between the clinician
and the approved NSHC community site. Agreed-upon
terms of employment are typically reduced to an employment
contract. The terms of the employment contract should
be carefully reviewed and fully understood by the clinician
before the contract is signed. Applicants may want
to seek legal guidance from private counsel before entering
into an employment contract. Employment contract negotiations
are solely the responsibility of the NHSC LRP applicant.
Please Note: A community site cannot
guarantee that an employee will receive an NHSC LRP contract
award. Therefore, NHSC loan repayments must
not be part of employment and salary negotiations between
clinicians and community sites.
next page: Qualifying
Educational Loans
Questions? nhsc@discoverylogic.com
or 1-800-638-0824 Monday through Friday (except Federal
holidays) 8:30 am to 5 pm ET.
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