Q34: When will I be notified if I am accepted into the program?
A34: You will be notified of your acceptance status once the review and selection process is complete. Be sure to monitor your email and check your application status online through the HESAA website for updates.
Q35: How is the student loan redemption amount applied to my student loans?
A35: HESAA will send the loan redemption payments directly to your student loan servicer(s). The payments will be applied toward your outstanding student loan balance. You will receive confirmation once the payments are processed. Please check your student loan account to verify that the payment was received, but allow time for the lender to post the payment to your account. You must continue to make your regular student loan payments while participating in the BHP-LRP.
Q36: I returned the signed service agreement, when will my student loans be redeemed?
A36: You will receive an “Employment Certification” form to be completed by your employer(s) every two years to receive the loan redemption and every year to receive the incentive grant. Once HESAA receives the completed form(s) and an updated billing statement(s) for all of your eligible student loans being redeemed, a check will be sent. HESAA will issue a payment directly to your lender(s).
Q37: How long is my service obligation?
A37: Your service obligation for the program is at least two years. After completing two years of qualifying service at an approved site, you may be eligible for loan redemption of up to $50,000, which will be applied to your student loan balance(s). Participants may qualify for an additional $50,000 in student loan redemption after each subsequent two-year period of qualifying service, for up to two additional periods of qualifying service. The maximum possible total of student loan redemption (excluding the incentive grant) is $150,000 over a service period of up to six years.
Q38: Can I receive funding from both the student loan redemption program and the incentive grant at the same time?
A38: Yes, participants who qualify for the incentive grant receive the annual $5,000 incentive, in addition to the loan redemption amounts, provided they meet the eligibility criteria for both.
Q39: How do I receive the annual $5,000 incentive grant for working primarily with children or adolescents?
A39: To receive the annual $5,000 incentive grant for working primarily with children or adolescents, you and your employer must complete an employer certification each year. The certification verifies that at least 51% of your clinical practice in the preceding year was with individuals under the age of 18. Once certified, the $5,000 incentive will be paid directly to you. Participants may receive up to $30,000 in incentive grants over a six-year period, provided they meet the eligibility criteria each year.
Q40: What happens if I take a leave of absence during my service obligation?
A40: If you take a leave of absence during your service obligation, you must submit written notification to HESAA detailing your last day of work, the type of leave time used (e.g., family or medical leave), and the date you plan to return to work. You are required to follow the leave of absence policy of your approved site. HESAA will adjust contract dates to account for approved leave. If your employer requires you to make up the time you missed, you must inform HESAA and request an extension of your approved service contract time to cover the additional time.
Q41: What happens if I do not complete my service obligation?
A41: If you do not fulfill your service obligation, you will not be eligible for student loan redemption or incentive benefits for that service period and will be withdrawn from the program.