The Nurse Faculty Loan Program (NFLP) is a loan cancellation program with a service obligation for recipients of the loan.
To be eligible to receive an NFLP loan, a borrower must:
- Be a citizen or national of the United States.
- Be enrolled (full-time or part-time) in an eligible nursing program at the time the NFLP loan is established and must complete the education components to prepare qualified nurse faculty. Master's students enrolled in Nursing Education, PhD and DNP nursing students are eligible.
- Maintain enrollment for a minimum of two terms/semesters during an academic year while receiving the NFLP loan.
- Be in good academic standing at NYU Meyers.
- Have no judgment liens entered against him/her based on default on a Federal debt, 28 U S C 3201.
- Loan recipients must complete the education program and, following graduation, may cancel up to 85% of the NFLP loan over a consecutive 4-year period while serving as full-time nurse faculty at a school of nursing (i.e., baccalaureate or higher degree, associate degree or diploma schools of nursing). NFLP loans are available to eligible students for the cost of tuition, books, fees, and lab expenses.
- Loan recipients who are not in the MS Nursing Education Program, must enroll and successfully pass 6 credits of NYU Meyers Nursing Education Master's courses. For example:
a. Nursing Education Theory II (NURSE-GN 2172, offered in fall, 3 credits) and Nursing Education Theory III (NURSE-GN 2174, offered in spring, 3 credits) OR; b. Nursing Education I (NURSE-GN 2170, offered in spring, 3 credits) and Nursing Education Theory II (NURSE-GN 2172, offered in fall, 3 credits) OR; c. Nursing Education I (NURSE-GN 2170, offered in spring, 3 credits) and Nursing Education Theory III (NURSE-GN 2174, offered in spring, 3 credits)
Additionally, recipients who are non-Nursing Education majors must complete a minimum of 75 hours teaching residency in one of NYU Meyers' programs supervised by a nurse faculty member of his/her respective program. Loan recipients must complete these requirements before graduating from their respective programs.
NFLP borrowers are limited to a 12-month time frame to establish employment as full-time nurse faculty at a 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.
Grantees agree to serve on the faculty of an accredited health professions school for a minimum of two years. Individuals selected to participate are granted cancellation of 20% of the principal and interest on the amount of the unpaid loan balance upon completion of each of the first, second and third year of full-time nursing faculty employment, and 25% of the principal of and the interest on the amount of the unpaid loan balance upon the completion of the fourth year of full-time employment. Therefore, a maximum potential of 85% of the outstanding principal and interest can be canceled and paid by the Federal government. If the participant ceases employment after two years, the repayment schedule will be established for the remainder of the unpaid loan.
To apply for the HRSA Nurse Faculty Loan Program, please contact the Scholarship Officer, Jennifer Vega, at firstname.lastname@example.org.