The Conway School of Nursing receives funding from the Health Resources and Services Administration (HRSA) for the Nurse Faculty Loan Program (NFLP) to fund graduate students who plan to become nursing faculty members upon graduation. The NFLP is a federally funded loan program administered by the Bureau of Health Professions, HRSA. The purpose is to increase the number of qualified nursing faculty. The primary goals of the program are:
- Recruitment of graduate nursing students to become nurse faculty
- Financial support to students enrolled in nursing degree programs that include educator coursework, and
- Retaining loan recipients as nurse faculty at accredited schools of nursing
The NFLP offers significant loan forgiveness to graduate students in nursing programs who:
- undergo specified educational coursework relevant to the nurse faculty role, and
- commit to work full-time as faculty in nursing programs upon graduation.
Eligibility
The NFLP guidelines specify that in making funding decisions, priority is granted to those who had received NFLP support in the previous academic year. The eligibility criteria for new applicants and continuing applicants are:
- A U.S. citizen or have permanent resident status. (A student who is in the United States on a student or visitor’s visa is not eligible for
a NFLP loan) - Maintain a minimum cumulative G.P.A of 3.00 in all attempted courses.
- Intend to maintain continuous enrollment for two consecutive terms during the academic year. (i.e. fall/spring, spring/summer)
- Enrollment at least part-time in D.N.P., or Ph.D. (
nursing ) program - Agreement to complete two 3-credit prescribed non-program specific educational courses while enrolled in the program.
- Have a completed appropriate year Free Application for Federal Student Aid (FAFSA) on file with the Office of Student Financial Assistance.
- Recipients must not have any judgment liens entered against him/her based on the default of a federal debt. By applying for this loan, you are giving Catholic University permission to check your records on Federal Student Aid's National Student Loan Data System and the General Service Administration's Excluded Party List websites.
- Have a commitment to assuming a full-time faculty position in a nursing program.
Details
- You may only borrow up to the amount of tuition and mandatory fees for the year. The actual amount recipients may be authorized to receive will depend upon their other sources of funding. NFLP loans do not include stipend support (i.e., living expenses, student transportation cost, room/board, personal expenses).
- For Ph.D. students, you must have prior participation in the NFLP to receive support during the dissertation phase
- You cannot use the NFLP to cover the same charges that are being covered by other federal grants (NRSA, Federal Nurse Traineeship, etc.).
- Loan recipients have a 9-month ‘grace’ period after graduation before loan payment begins.
- If you become a full-time faculty member, up to 85% of the NFLP loan may be
canceled (a cancellation of 20% per year for Years 1-3, and 25% for Year 4; 15% is postponed while you are employed and receive loan cancellation). You would pay an interest rate of 3% for theloan, and would have 10 years to repay. - Repayment begins following a 9-month grace period:
When the borrower ceases to be employed
When the borrower graduates and fails to establish employment as full-time nursing faculty
When the borrower ceases to be employed as full-time nurse faculty over the 4-year period
When the borrower fulfills the 4-year period as full-time nurse faculty - If you do not become a full-time faculty member, you would repay the loan to the University over 10 years at the general market rate.
- The NFLP is not need-based.
- Service requirements/obligations incurred under another federal program for educational support must remain separate and distinct and cannot be combined.