Nurse Faculty Loan Program FAQ
Admitted or enrolled students in a Master of Science in Nursing, Doctor of Nursing Practice or PhD program can apply. In addition, applicants must be:
- A U.S. citizen, U.S. national or lawful permanent resident of the U.S. and its territories;
- Enrolled full time or part time in an eligible program at the time the loan is established and complete the education component(s) to prepare qualified nurse faculty;
- In good standing in an advanced nurse education program at the school; and
- Have no judgment liens entered against them, based on the default on a federal debt, 28 U.S.C. 3201 (e).
The Nurse Faculty Loan Program 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 loans to eligible students for the cost of tuition, fees, books, lab expenses and other reasonable education expenses. The loan amount cannot exceed $35,500 per year and cannot extend more than 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 Admissions & Financial Aid page to download the application packet. Students should submit their application per the instructions listed. Applications ultimately go to the Office of Financial Aid for final authorization and approval. The office is responsible for notifying applicants as to whether they will receive funds.
Yes, students in online-only programs must have all signatures notarized prior to submitting an application. Notaries often are available at banks, post offices, administrative offices, etc.
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.
Yes, in addition to Nurse Faculty Loan Program support, students can receive support from other federal programs, as long as the funds are not used to cover the same costs during the academic year. Students could have received 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 fafsa.ed.gov.
For those who have submitted an application and have questions specifically related to the Nurse Faculty Loan Program, the college has designated a representative in the Office of Financial Aid.
- Contact Connie Fears at firstname.lastname@example.org or 513-558-6905.
Following graduation from the program, borrowers who fail to establish employment as full-time nurse faculty at a school of nursing must begin repayment of the loan after a 9-month grace period at the prevailing market rate.
“Full time” is defined by the employing accredited school of nursing for its faculty.
Any nursing program should qualify, as long as the position is a full-time faculty position at an accredited school of nursing. Those who are current full-time faculty members qualify for NFLP funds, presuming they will continue in that role after graduation, per the terms of the loan.
Borrowers are responsible for documenting their employment upon graduation to request the loan cancellation each year. The Employment Certification Form is available on the university's billing service's webpage (made available when you complete the exit interview process). Several required NFLP forms are available on ECSI's webpage.
The grace period begins immediately after completion of the program, or voluntary termination as a student, and lasts for nine months. During this period, students are not required to repay the loan. 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 nine months after the borrower:
- Completes the program;
- Ceases to be enrolled as a student in an advanced nurse education program; or
- Ceases to be employed as a full-time nursing faculty member.
The loan will bear interest on the unpaid balance:
- At a rate of 3% per year beginning 3 months after the borrower graduates from the program; or
- At the prevailing market rate, if the borrower fails to complete the advanced nursing education program or establish employment as a full-time nurse faculty at an accredited school of nursing.
Loans of borrowers employed as full-time nurse faculty members at a school of nursing for a consecutive 4-year period will bear interest at the rate of 3 percent for the four-year period and the remaining 6 years of the “repayment period.”
If the borrower ceases full-time employment as nurse faculty at a school of nursing, the loan will bear interest at the prevailing market rate.
Students who receive the loan must complete the four courses required for the post-baccalaureate Nurse Educator Certificate, along with their MSN, DNP or PhD courses. We encourage recipients to apply to the certificate program so that they receive the Nurse Educator Certificate after completing the courses.
As part of the application, each student will develop a plan indicating in which terms they plan to take the additional courses. The appropriate faculty advisor will approve the plan and include it as part of the student's application packet. Students awarded funds will work with the director of the Nurse Educator Certificate program to ensure the plan fits within the time frame courses are offered and will include these students in communications related to coursework and course registration.
Loan recipients (not the college) are responsible for registering for the four required courses in accordance with their program plan prior to graduation. Students who fail to complete these required courses will incur interest on the unpaid balance of the loan at the prevailing market rate. The same is true for borrowers who fail to complete the advanced nursing education program or establish employment as a full-time nurse faculty at an accredited nursing school.