Nurse Faculty Loan Program (NFLP)
- Who is eligible to apply for the NFLP?
- How does NFLP loan support work?
- How do I apply for NFLP funds?
- If I’m a distance learning student, do I need to get my signatures notarized?
- How many people will be eligible for the loan program?
- Can I still apply for federal aid if I’m also applying for the NFLP?
- Who do I contact if I have questions about financial aid, or how much I may be eligible for?
- How long do I have to find a faculty position after I graduate?
- What constitutes a full-time faculty position?
- Does the type of nursing program I work for matter (i.e. ADN, BSN, MSN)?
- How do I document that I’ve received a full-time faculty position?
- How long is the grace period before I need to start repaying the loan?
- What will happen if I do not teach for the full four years?
- What is the interest rate for this loan?
- What are the additional courses I have to take if I receive the NFLP?
- If I receive the NFLP, how do I add the nursing education courses to my schedule/program of study?
Students who are admitted to or enrolled in one of our Master of Science in Nursing programs, or in our PhD program in Nursing Research, are eligible to apply. They must also meet the following criteria: 1) be a US citizen or national of the US, or a lawful permanent resident of the US and its territories; 2) be enrolled full-time or part-time in an eligible program at the time the NFLP loan is established and must complete the education component(s) to prepare qualified nurse faculty; 3) be in good academic standing in an advanced nurse education program at the school; and 4) have no judgment liens entered against them based on the default on a federal debt, 28 U.S.C. 3201(e). Borrowers should maintain full or part time enrollment status for a minimum of 2 terms/semesters during an academic year while receiving the NFLP loan.
The NFLP is a loan cancellation program with a service obligation for recipients of the loans. To be eligible for the 85% cancellation, the Borrower must agree to serve as full-time nurse faculty at an accredited school of nursing for a consecutive four-year period following graduation from the program. The granting institution will make NFLP loans to eligible students for the cost of tuition, fees, books, lab expenses, and other reasonable education expenses. The loan amount may not exceed $35,500 per year and is not to exceed 5 years per student.
To receive loan cancellation, the borrower must be employed full-time as a nurse faculty at an accredited school of nursing for a complete year, as is defined by the employing school of nursing or 12 consecutive months. The school will cancel an amount of up to 85% of the loan (plus interest) as follows:
- Upon completion by the Borrower of each of the first, second and third year of full-time employment as a faculty member in an accredited school of nursing, the school will cancel 20% of the principal of, and the interest on, the amount of the unpaid loan on the first day of employment.
- Upon completion by the individual of the fourth year of full time employment as a faculty member in an accredited school of nursing, the school will cancel 25% of the principal of, and the interest on, the amount of the unpaid loan on the first day of employment.
To receive loan cancellation, the Borrower must submit the Request for Partial Cancellation of Loan form to the lending school at the end of each complete year of full-time employment as faculty at a school of nursing. The Request for Partial Cancellation of Loan form is obtained from the University’s billing service, ECSI, Inc.
Visit the Scholarship & Financial Aid page to download the application packet under the NFLP section. You can submit your application per the instructions listed. The application is ultimately submitted to our financial aid office for final authorization and approval; they are responsible for notifying you if you are awarded funds.
Yes – distance learning students must ensure that all signatures are notarized prior to submitting their applications. You can often find notaries at banks, post offices, administrative offices, etc.
The UC College of Nursing has been awarded a maximum dollar amount to disperse. Awards will cover as many students as possible until funding is depleted.
In addition to NFLP support, students may receive support from other federal programs, provided that the funds are not used to cover the same costs during the academic year. The student may already receive other federal support that does not cover all costs (tuition, fees and other expenses) for the academic period; in this case, the student may receive NFLP support to cover the remaining costs, excluding stipend support. To apply for Title IV federal grants, loans and work-study, submit a Free Application for Federal Student Aid (FAFSA) available at www.fafsa.ed.gov, or by calling 1-800-4-FED-AID, or from the school’s financial aid office.
If you have submitted an NFLP application and have questions about how much you may be eligible for specifically related to this program, we have a designated representative in the financial aid office who can assist you:
- Lisa Burke: 513-556-3514
Following graduation from the program, NFLP borrowers who fail to establish employment as full-time nurse faculty at a school of nursing must begin repayment of the NFLP loan following the 9-month grace period at the prevailing market rate.
“Full-time” has the meaning used by the employing accredited school of nursing, for its faculty.
Any nursing program should qualify, so long as your position is full-time faculty at an accredited school of nursing. If you are current full-time faculty, you do qualify to request NFLP funding presuming that you will continue in that position after graduation, per the terms of the loan.
It is the responsibility of each borrower to document their employment upon graduation to request the loan cancellation each year. The Employment Certification Form is housed on the University’s billing service, ECSI’s web page (made available when you complete the exit interview process). Several of the required NFLP program forms are housed on ECSI’s web page.
The grace period begins immediately following completion of the program or voluntary termination as a student for a period of nine (9) consecutive months. During the grace period repayment of the loan is not required. The loan is repayable in equal or graduated periodic installments (with the right of the borrower to accelerate payment) over a 10-year period that begins 9 months after the Borrower either a) completes the program; b) ceases to be enrolled as a student in the advanced nurse education program; or c) ceases to be employed as full-time nurse faculty.
Failure to become or maintain employment as a full-time faculty member at an accredited school of nursing will constitute being placed into a repayment status. Repayment of the NFLP loan will be at the prevailing market rate.
The NFLP loan will bear interest on the unpaid balance of the loan at a) the rate of 3 percent per annum beginning 3 months after the borrower graduates from the program, or b) bear interest on the unpaid balance of the loan at the prevailing market rate if the borrower fails to complete the advanced nursing education program or when the borrower fails to establish employment as a full-time nurse faculty at an accredited school of nursing. Borrowers employed as full-time nurse faculty at a school of nursing for a consecutive four year period will bear interest at the rate of 3 percent for the four year period and the remaining six years of the “repayment period.” If the borrower ceases full-time employment as nurse faculty at a school of nursing, the NFLP loan will bear interest at the prevailing market rate.
Students who receive the NFLP must take the four nursing education courses required for our Nursing Education Graduate Certificate, in addition to the curriculum required by their MSN or PhD program. Information about the four courses can be found here. We strongly encourage all recipients of the loan to apply to the Graduate Certificate in Nursing Education. Because you will be completing all four required courses, it is your advantage to earn the certificate at the end. Click here to apply.
As part of the NFLP application, each student will develop a plan indicating which terms they will take the required nursing education courses, in order to add those courses to their curriculum. This plan will be signed by the faculty advisor for their specialty area, and ultimately forwarded as part of their application packet. If a student is awarded NFLP funds, their name will be provided to the director of the Nursing Education Graduate Certificate. The director will ensure that the plan students developed in conjunction with their advisor works for the course offerings and program, and will include NFLP students in their communications concerning coursework and registration. Again, we do encourage NFLP recipients to apply to the certificate program.
Recipients are responsible for registering for the four nurse educator courses required by the NFLP, in accordance with their program plan, prior to graduation. The college is not responsible if students neglect to complete these required courses. If they do not do so, they would bear interest on the unpaid balance of the loan at the prevailing market rate. The same is true if the borrower fails to complete the advanced nursing education program or if the borrower fails to establish employment as a full-time nurse faculty at an accredited school of nursing.