Nurse Faculty Loan Program
Future nurse educators! (MSN & PhD) Apply for federal funding!
The federal Nurse Faculty Loan Program requires completion of a simple application. Don’t miss this opportunity!
· Provides support for students in the MSN Nursing Education track and the PhD program.
· Citizens of the United States are eligible.
· Full-time and part-time students pursuing coursework in nursing education leading to a master’s or doctoral degree in nursing can borrow money to cover tuition, fees, books and supplies.
· Borrow up to $35,000 per year for a maximum of five years.
· If upon graduation the student works full-time as a nursing faculty member in an accredited school of nursing (RN or higher) in the US or its territories, beginning within 12 months of completion of the degree, for up to four years, up to 85% of the total NFLP loan balance is forgiven, and the remainder can be paid within 10 years of graduation at an interest rate of 3%. For each of the first three years, 20% is forgiven, and for the fourth year, 25% is forgiven.
· Repayment is deferred as long as the student is employed as a full-time faculty member for the first four years after degree completion.
· If the student ceases studies or does not become employed as a nursing school faculty member within 12 months of degree completion, then the balance of the loan is paid over 10 years at the market interest rate.
Dr. Nancy Sharts-Hopko