0006

The Veterans’ Home Medical Provider Repayment Program is intended to pay eligible educational loans as an incentive for medical providers (qualified physicians, certified nurse practitioners, registered professional nurses, certified nursing assistants and licensed practical nurses) to pursue and continue their careers at State of Illinois Veterans’ Homes.

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110 ILCS 972 and 110 ILCS 947/20(f)

23 ILLINOIS ADMINISTRATIVE CODE CH. XIX, SEC. 2757

The program is intended to reward medical providers for choosing a career in a veterans' home by assisting them with repayment of student loans.

Yes

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Individuals;

A qualified applicant must be: a) a resident of Illinois; b) a United States citizen or eligible noncitizen; c) a medical provider who, for each year during which a grant is received, fulfills a separate 12 month period as a physician, certified nurse practitioner, registered professional nurse, certified nursing assistant or licensed practical nurse in a State of Illinois Veterans’ Home (approved veterans' homes for purposes of this program are located in Anna, Chicago, LaSalle, Manteno and Quincy, Illinois); d) a borrower with an outstanding balance due on an eligible Federal education loan; e) an individual who is not in default on a federally guaranteed educational loan and does not owe a refund on a grant or scholarship program administered by ISAC; f) a medical provider who meets licensing requirements of the Department of Financial and Professional Regulation or a certified nursing assistant who passed the State-specified examinations to be fully certified; and g) a medical provider who has completed the prescribed employment probationary period and whose employment is in good standing as determined by the Department of Veterans’ Affairs.

Individuals

Direct Payments for Specific Use

Education

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N/A

Submit a Veterans' Home Medical Providers' Loan Repayment Program Application (https://www.isac.org/students/during-college/documents/2425-VHMPLRP-App.pdf) Allow at least four weeks for the processing of the application. If your application is incomplete, ISAC will notify you and you will have the opportunity to furnish missing information. Your application will be considered for processing as of the date it is complete and all required information has been received at ISAC's Deerfield office.

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Recipients are selected from among qualified new applicants, as well as those who file timely renewal applications. The total number of awards each year is contingent upon available funding. If funding in any given year is insufficient to pay all eligible applicants, awarding will be based on the date the complete application (with all required documentation) is received at ISAC's Deerfield office. Preference may be given to renewal applicants provided that the recipient continues to meet the eligibility requirements.

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There is a minimum of 4-5 weeks turnaround from the date approved recipients are notified by ISAC to when funds are disbursed. Depending on the volume of payment vouchers being processed by the State of Illinois Comptroller’s Office, this timeframe may increase. Proceeds will be remitted in multiple disbursements directly to the holder of the loan(s) to be repaid.

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Renewal applicants must submit an application each year, and may also be required to submit a history of prior awards in order to demonstrate that program proceeds were used for eligible educational loans.

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Recipients must be a U.S. citizen or eligible non-citizen, an Illinois resident, and meet licensing requirements. They must have completed the prescribed employment probationary period and be employed in good standing at an approved Illinois veterans' home.

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N/A

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N/A

N/A

Up to $5,000

The program is intended to reward medical providers for choosing a career in a veterans' home by assisting them with repayment of student loans.

The Veterans' Home Nurse Loan Repayment Program is exempt from the Uniform Guidance (2 CFR 200) and the Grant Accountability and Transparency Act (30 ILCS 708) because loans are repaid on behalf of an individual beneficiary.

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1755 Lake Cook Road Deerfield, IL 60015-5209

https://www.isac.org/students/after-college/forgiveness-programs/veterans-home-nurse-loan-repayment-program.html

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N/A

12/27/2021

FY 2015 : $29,300
FY 2017 : $29,300
FY 2018 : $26,400
FY 2019 : $26,400
FY 2020 : $26,400
FY 2021 : $26,400
FY 2022 : $26,400
FY 2023 : $26,400
FY 2024 : $26,400
FY 2025 : $26,400