Debt and Loans

[MUSCDMD]

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Has anyone looked into the NHSC loan repayment program? Looks like a pretty good deal to me. I know the scholarship is very competitive, but the loan repayment program looks like a good deal as well. Personally, I'd rather do that and have a say as to where I commit/ re-pay part of my loans than commit several years to the military. Is there something I'm missing?

 

[dentalWorks]

Has anyone looked into the NHSC loan repayment program? Looks like a pretty good deal to me. I know the scholarship is very competitive, but the loan repayment program looks like a good deal as well. Personally, I'd rather do that and have a say as to where I commit/ re-pay part of my loans than commit several years to the military. Is there something I'm missing?

Its a little early in the game for me (DS1), but the 2 year repayment option is sweet if you can find an office that will start you off at a decent pay (anything above 100k = decent).

So for 2 years worth of work, you've made 200k + 60k bonus = 260k.... not a bad deal. On top of that, the 60k is tax free.

the only thing you have to do tho is...... you need to start paying off loans from first month, I believe the 60k is only attained after 2 years of service (duh). So you need to payoff loans from salary ASAP or that interest rate won't balloon the principle to make the 60k-bonus seem like nothing.

 

[MrAvicii]

Its a little early in the game for me (DS1), but the 2 year repayment option is sweet if you can find an office that will start you off at a decent pay (anything above 100k = decent).

So for 2 years worth of work, you've made 200k + 60k bonus = 260k.... not a bad deal. On top of that, the 60k is tax free.

the only thing you have to do tho is...... you need to start paying off loans from first month, I believe the 60k is only attained after 2 years of service (duh). So you need to payoff loans from salary ASAP or that interest rate won't balloon the principle to make the 60k-bonus seem like nothing.

good advice as always DW 👍