What is the Nurse Faculty Loan Program (NFLP)?
The Nurse Faculty Loan Program is a federal program designed to increase the number of nursing students who pursue careers as full-time faculty teaching in schools of nursing.
The program is funded by the Health Resources and Services Administration (HRSA), Bureau of Health Professions, and allows nursing schools to make loans to their students enrolled full-time or part-time in advanced degree nursing programs.
Following graduation and upon full-time employment in a school of nursing within one year of graduation, the borrower can cancel up to 20% per year for a maximum of 85 percent of the total NFLP loan (years 1, 2, and 3: 20%; year 4: 25%).
The NFLP loan bears interest on the unpaid balance at the rate of 3% per annum beginning 3 months after the borrower ceases to be an eligible student in the advanced nurse education program.
Those who fail to become faculty members after graduation, or take a leave from school, must repay the loan at the prevailing market rate.
The NFLP loan goes into repayment 9 months after the borrower ceases to be an eligible student in the advanced nurse education program.
What does the Nurse Faculty Loan Program provide?
Awardees will receive funding up to the cost of full-time tuition and fees. A maximum of $35,500 can be received per academic year for five years.
Awards may be renewable for a maximum of four years but this is contingent upon ongoing federal funding and therefore subject to change.
Who is eligible to apply?
Students are eligible to apply if they are:
- committed to a faculty role,
- in good academic standing,
- enrolled full-time (9 credits) or part-time (6 credits),
- US citizens or permanent residents, and
- not in default on any prior student loans.
Students must maintain enrollment for a minimum of two consecutive semesters (full-time or part-time). Temporary military leave is allowable.
Students must be admitted to either the PhD in Nursing program or the MS in Nursing with a specialization in Nurse Education.
Applicants must submit a Free Application for Federal Student Aid (FAFSA), although need is not a criteria.
Awards are made on a first-come, first-served basis until all funds are expended. Priority will be given to students who have received NFLP funding in the past. Students may receive support from other Federal programs, provided that the funds are not used to cover the same costs.
What are the awardee's responsibilities?
If you are granted a Nursing Faculty Loan you must:
- Remain in good academic standing.
- Accept the NFLP loan on CampusConnection. An e-mail notification will be sent to your UND e-mail account when this is available.
- Sign a promissory note and complete Loan Counseling with Student Account Services.
- Complete the Private Loan Self-Certification Form, which will be sent to your UND e-mail address after you accept the award on CampusConnection.
- Follow the application procedures for each year continued funding is desired (as required by HHS).
What is the process for applying?
1. Submit your FAFSA: www.fafsa.gov. Need is not a criteria but is part of the Federal approval process for this loan program.
2. Complete and submit the NFLP Application form below.