For More Information
Contact Linda Huether at HuetherL@missouri.edu or call 573.882.0278.
Beginning in the fall of 2010, the MU Sinclair School of Nursing was fortunate to receive federal funding for graduate nursing students via the Nurse Faculty Loan Program. Funding is available for DNP and PhD students. Annual renewals and awards are contingent upon ongoing federal funding.
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 and Human Services (HHS), 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 (or multiple positions adding up to full-time) in a school of nursing within 12 months of graduation, the borrower can cancel up to 20 percent per year for a maximum of 85 percent of the total NFLP loan (years 1, 2, 3: 20 percent; year 4: 25 percent).
The borrower must serve as full-time nurse faculty for a consecutive four-year period at a school of nursing following graduation from the program to cancel the maximum amount of the loan.
Those who fail to become full-time faculty members, at a single institution, within 9 months of graduation, or take a leave from school, must repay the loan with interest. Recipients will sign a promissory note with the Office of Student Financial Services.
What does the Nurse Faculty Loan Program provide?
Recipients can receive financial awards for the academic year to offset a portion of the cost of tuition, books, fees and other reasonable educational expenses.
Awards may be renewable for a maximum of five years but this is contingent upon ongoing federal funding and therefore subject to change.
Who is eligible to apply?
School of Nursing full-time or part-time PhD or 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.
Top priority will be given to students who do not have funding from other sources.
What are the recipient’s responsibilities?
If you are granted a Nursing Faculty Loan you must:
- Maintain a GPA of 3.0 or higher
- Maintain at least part-time (4-6 credits/semester) student status (Note: Once PhD students are post-comps, continuous enrollment of 2 cr in F/Sp meets the part-time enrollment requirements).
- Maintain enrollment for a minimum of two consecutive semesters.
- Complete their educational program (DNP or PhD) within 5 years of initial funding
- Sign a promissory note and a Statement of Rights and Responsibilities online.
- Complete the specified education component(s) for the advanced nurse education program prior to graduating from the program for PhD and DNP students.
- Follow these application procedures for each year continued funding is desired (as required by HHS). Funding is contingent upon ongoing federal funding.
What is the process for applying?
Fill out application and review the application disclosure document listed below (see “Forms” page for your specific graduate nursing program as listed below):
Submit your FAFSA: http://www.fafsa.ed.gov. Need is not a criteria but is part of the federal approval process for this loan program.
When and where do I submit my application?
Application deadline is July 15, 2017.