Nurse Faculty Loan Program
Students enrolled in select Doctor of Nursing Practice concentrations who plan to teach in a nursing program after graduation, or who are currently teaching in a school of nursing, may be eligible for Nurse Faculty Loan Program funding.
The Nurse Faculty Loan Program loan covers costs for tuition, books, fees, and software. The loan is 85% cancelable after working fulltime in the same faculty position for four consecutive years.
The loan cancellation over the four-year period is as follows: 20% of the principal and interest may be canceled upon completion of each of the first, second, and third years of full-time employment, which, after the three-year period, totals 60%, followed by the cancellation of 25% of the principal and interest upon completion of the fourth year of full-time employment as a faculty member in an accredited school of nursing.
Repayment on the remaining 15% of the loan balance is postponed during the cancellation period. NFLP loans accrue interest at a rate of 3% per annum beginning 3 months after graduation (per PHS Act Section 846A (c)(6)(A)) for loan recipients who establish employment as nurse faculty.
To apply for the Nurse Faculty Loan Program, post-master's D.N.P. students must:
- Be enrolled full-time or part-time in the post-master's D.N.P. OR the B.S.N. to D.N.P. Health Systems and Administration
- Agree to take four nurse educator courses in addition to established program of study
- Be in good academic standing
- Meet citizenship requirements