Nurse Faculty Loan Program
Jacksonville University Keigwin School of Nursing is a recipient of HRSA funding for the Nurse Faculty Loan Program (NFLP); a program designed to increase the number of qualified nursing faculty.
At this time we are not starting any new students in the NFLP program.
According to the US Health Resources & Services Administration (HRSA):
The purpose of this funding opportunity is to increase the number of qualified nursing faculty by providing funding to accredited schools of nursing to offer loans to students in advanced education nursing degree programs who are committed to become nurse faculty. In exchange for full-time, post-graduation employment as nurse faculty, the program authorizes cancellation of up to 85 percent of any such loan (plus interest thereon).
Additional information regarding funding benefits and requirements can be referenced here on the HRSA NFLP page.
Frequently Asked Questions
What is the Nurse Faculty Loan Program (NFLP)?
- The Nurse Faculty Loan Program is designed to increase the number of nursing students who pursue careers as full-time faculty teaching in schools of nursing upon graduation. The program is funded by the Health Resources and Services Administration (HRSA), Bureau of Health Professions, and allows nursing schools to make loans from the fund to assist registered nurses in completing their graduate education to become qualified nurse faculty.
- The program offers partial loan forgiveness to borrowers that graduate and serve as full-time nursing faculty for the prescribed period of time. The loan recipients may cancel up to 85 percent of the loan over four years in return for serving full-time as faculty at any accredited school of nursing within 12 months of graduating.
- Those who fail to become full-time faculty members, at a single institution, within 12 months of graduation, or take a leave from school, must repay the loan at the prevailing interest rate. Awardees will sign a promissory note with their Financial Aid Officer each semester. The federal approval mechanism for NFLP is submission of a FAFSA, although need is not a criteria.
What does the Nurse Faculty Loan Program provide?
- The school will make NFLP loans to eligible students toward the cost of tuition. In some cases the program will cover fees, books, lab expenses and other reasonable education expenses, not including living expenses. Awards may be renewable for a maximum of three years but this is contingent upon ongoing federal funding and therefore subject to change. Previous recipients have first priority each semester.
Who is eligible to apply?
- Jacksonville University post-master's DNP students are eligible to apply if they are committed to a faculty role, in good academic standing, are US citizens or permanent residents, and not in default on any prior student loans. Doctor of Nursing Practice students who meet these qualifications are eligible.
What are the loan recipients’ responsibilities?
- If you are granted a Nursing Faculty Loan you must:
- Maintain a GPA of 3.0 or higher
- Sign a promissory note with the Student Financial Aid Office every semester.
- Complete the post-master's DNP - Leadership or Advance Practice cognate following the prescribed curriculum and residency requirements. The total degree requirements for this cohort includes 40 semester hours.
- What is the process for applying?
- Submit your FAFSA: https://studentaid.ed.gov/sa/fafsa. Need is not a criteria but is part of the federal approval process for this loan program.
The applicant is responsible for understanding the financial commitment and obligations of the loan agreement. Please read the promissory note carefully for more detailed information.