The Nurse Faculty Loan Program (NFLP) is a federal loan cancellation program through the Health Resources and Service Administration (HRSA) with a service obligation for recipients of the loans. Advanced nursing students may receive up to 85% of loan cancellation for awards through the NFLP in return for working a minimum of 4 years as full-time nursing faculty upon graduation.
Eligible students for the NFLP must be either enrolled in the Doctor of Nursing Practice (DNP) program or the Post Professional Certificate in Nursing Education. All NFLP students must complete the Certificate in Nursing Education as part of their faculty training program. Applicants will be awarded on a first-come, first-served basis.
Eligible students who are awarded NFLP funds will sign a promissory note for a low interest rate loan for the granted amount. To be eligible for the maximum 85 percent cancellation, the Borrower must agree to serve as full-time nurse faculty at an accredited school of nursing for up to four-years following graduation from the program.
To qualify for loan cancellation for Nurse Faculty full-time employment, the Borrower must meet one of the following criteria: (1) employment as a full-time faculty member at an accredited school of nursing; (2) employment as a part-time faculty member at an accredited school of nursing in combination with another parttime faculty position or part-time clinical preceptor/educator position affiliated with an accredited school of nursing that together equates to full-time employment; or 3) employment as designated joint-appointment nurse faculty serving as full-time advanced practice registered nurse (APRN) preceptor within an academic-practice partnership framework affiliated with an accredited school of nursing.
Following graduation, NFLP borrowers are limited to a 12-month timeframe to establish employment as full-time nurse faculty at an accredited school of nursing following graduation from the program. If employment verification is not submitted within the 12-month period, the borrower will NOT be eligible for the loan cancellation provision.
Borrowers with certified employment will have loan cancellation in the following manner:
The remaining 15% of the loan is repaid over a 10-year repayment period at a fixed interest rate starting three months after program completion.