The types of qualifying employment considered to meet the criteria for loan cancellation follows:

  1. A full-time faculty member at an accredited school of nursing;
  2. A part-time faculty member at an accredited school of nursing in combination with another part-time faculty position or part-time clinical preceptor/educator position affiliated with an accredited school of nursing that together equates to full-time employment;
  3. *Designation of nurse faculty in a joint nurse faculty appointment, serving as full-time advanced practice registered nurse (APRN) preceptor (volunteer or paid position) for at least 30 hours monthly in an accredited school of nursing, within an academic-practice partnership framework.

The loan cancellation over the four-year period 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, totaling 60%, followed by the cancellation of 25% of the principal and interest upon completion of the fourth year of full-time nurse faculty employment.

Repayment on the remaining 15% of the loan balance is postponed during the cancellation period. This loan accrues 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.

*For joint nursing faculty appointment designation, recipients are encouraged to negotiate a contract/position with an accredited school of nursing prior to precepting students.

Application Requirements

To apply for the Nurse Faculty Loan Program, students must:
  • Be enrolled full-time or part-time in an advanced education nursing degree program
  • Agree to take three nurse educator courses in addition to an established program of study
  • Be in good academic standing
  • Meet citizenship requirements

Plans of Study

This program is supported by the Health Resources and Services Administration (HRSA) of the U.S. Department of Health and Human Services (HHS) as part of an award totaling $2,931,104 with one-ninth financed with non-governmental sources. This information or content and conclusions are those of the author and do not necessarily represent the official views of, nor an endorsement, by HRSA, HHS or the U.S. Government. For more information, please visit