I am a current NHSC participant and my contract service ends in September. I am wanting to apply for a continuation contract but had a few questions.
I understand I need to pay the entirety of my original award- do I need to do that by the time the continuation contract has to be submitted (mid-May) even though my contract runs through September? I am making monthly payments and trying to pay the least amount out of pocket as possible. I wasn‘t sure if there was a way to pre-pay or show I would have paid the full 50k by September. Or if I should go ahead and pay the total 50k in the award and make out of pocket payments on my own from June-September. I don’t want to miss out on getting another award by mistakingly not “following the rules.”
Any help or insight is appreciated!
Posted by jag1836
2 Comments
So you’ve already completed 2 years, and still have 50K remaining? Was that not the complete award amount?
Not sure if you’re going for PSLF but if so, you can pre apply 12 months worth of payments to count or until your next income recertification date- whichever comes first.
If you’re not planning for PSLF, then what is the concern with submitting the full amount to your loan prior to application? If desired, you could pre pay some months to get you through the app period until the next installment comes from the continuation ( with this you will likely need to lump sum pay the remainder so that proof of payment of all prior funds are in prior to application deadline).
I personally wouldn’t want to risk not having proof of all funds paid prior to application submission- though I don’t know the requirement 100%.
I am also a participant at the end of my 2nd year this fall. But I’d rather re apply when all my funds are gone from paying the minimum amount each month and making it last for a longer period of time. Even if that means foregoing the continuation year option.
This is specific enough that you really need to call your NHSC program officer directly not because the answer is complicated but because getting it wrong costs you the continuation award and no Reddit answer is worth that risk. That said, from what others have shared: you typically need to show you’re on track to fulfill the original obligation by contract end, not that you’ve prepaid the full amount. But confirm that directly. Your program officer exists for exactly this question and they’re usually very responsive.