Description
The Nurse Faculty Loan Program (NFLP) seeks to increase the number of qualified nursing faculty nationwide by providing low-interest loans for students studying to be nurse faculty and loan cancelation for graduates who go on to work as faculty. The program aims to support accredited schools of nursing in their efforts to educate and train future nurse faculty. Key aspects of the program include:
• Low-interest loans for students studying to be nurse faculty
• Loan cancelation for graduates who go on to work as faculty
• Eligibility requirements for accredited schools of nursing and their affiliated programs
• Application and submission process for schools and students
• Repayment and loan servicing requirements
• Default and non-compliance procedures
The NFLP will provide funding to support the establishment or continuation of loan funds at participating institutions, with the goal of increasing the number of qualified nursing faculty in the United States.
• Eligible applicants include accredited schools of nursing
• Eligible students include those enrolled in master's or doctoral nursing degree programs
• Loan amounts and repayment terms will be determined by the institution
• Institutions must establish and maintain borrower records and track employment and repayment statuses