Forgiveness Process Timeline And Amounts
- Obtain full-time employment as a nurse faculty at an accredited school of nursing and submit the NFLP Employment Certification Form within 12 months of graduation
- Full-time employment is defined as:
- A full-time faculty appointment at an accredited school of nursing or
- A part-time faculty appointment at an accredited school of nursing in combination with another part-time faculty position or part-time clinical preceptor/educator position working with nursing students and affiliated with an accredited school of nursing that together equates to full-time employment.
What Are The Eligibility Requirements For Nclrp
According to the website, in order to be eligible for loan forgiveness, individuals must:
- Be a U.S. citizen, U.S. National or Lawful Permanent Resident and provide supporting documents
- Have earned a baccalaureate or associate degree in nursing , a diploma in nursing, or graduate or doctorate degree in nursing
- Have employment as a full-time RN or APRN working at least 32 hours per week at a public or private nonprofit CSF or be employed as a full-time nurse faculty member at a public or private nonprofit, eligible school of nursing
- Have outstanding qualifying educational loans leading to a diploma or degree in nursing
- Have completed a nursing degree program for which the loan balance applies
- Have a current, full, permanent, unencumbered, unrestricted license to practice as an RN, or an APRN if applicable, in the state in which they intend to practice, or be authorized to practice in that state pursuant to the Enhanced Nursing Licensure Compact
National Health Service Corps Loan Repayment Program
The NHSC loan forgiveness program is available to APRNs who are Medicare, Medicaid, and the Children’s Health Insurance Program providers in an NHSC-approved health professional shortage area. Full-time practitioners can receive up to $50,000 for two years, and part-time practitioners can receive $25,000.
Who is Eligible: Nurse practitioners in adult, family, geriatric, pediatric, or women’s health specialties, psychiatric nurse specialists, or certified nurse midwives
Learn More About/Apply to National Health Service Corps.
Don’t Miss: Masters In Nursing Women’s Health
A Proven Path To Professional Success
The Lourdes University College of Nursing has a 95% graduation rate as of 2019. Students graduate with the knowledge, clinical skills, leadership qualities, and compassionate nature needed for excellence in the nursing profession.
Prepare to become more than a nurse with a masters degreeprepare to become a nurse with a Lourdes University masters degree.
Federal Loan Forgiveness Program For Nursing Phd Students
UCF College of Nursing is pleased to offer the federal Nurse Faculty Loan Program to qualified nursing PhD students.
Currently, there is a nationwide shortage of doctorally prepared nursing faculty to meet demand and educate the future generations of nurses. The goal of the program is to encourage nursing doctoral students to pursue a full- or part-time career in higher education.
The program is offeredthanks to a grant from the Health Resources and Services Administration ,a division of the U.S. Department of Health and Human Services.
Recommended Reading: Rn To Bsn Nursing Schools
Common Questions About The Nurse Faculty Loan Program
What is the Nurse Faculty Loan Program?
The Nurse Faculty Loan Program is a loan forgiveness program that prepares and trains qualified nurse educators to fill faculty vacancies and increase the number of nurses entering the workforce. Students awarded NFLP funding may cancel up to 85% of their loan in return for serving four consecutive years full-time as faculty in any accredited school of nursing or as a preceptor in an academic partnership.
How is 85% of the loan canceled?
Upon completion of years 1, 2, and 3 as a full-time nursing faculty, NFLP borrowers will have 20% of their loan canceled after each year. After the fourth year 25% of the loan will be canceled. NFLP borrowers must work for four consecutive years as full-time nursing faculty or preceptor in an academic partnership to receive the 85% cancellation.
What happens to the other 15% that isnt canceled?
The remaining 15% of the loan that is not canceled is paid back by the NFLP borrower over a 10-year period which begins 9 months after the course of study ends at an interest rate of 3%. However, NFLP borrowers may, at their option and without penalty, prepay all or any part of the loan at any time.
How long after graduation do I have to obtain employment as a full-time nurse faculty member or preceptor?
NFLP borrowers must obtain full-time employment as a nurse faculty member or preceptor within 12 months of graduation.
Do I need to be a registered nurse to apply for NFLP funding?
Nurs 5012 Nursing Science And Patterns Of Knowing 3
An historical, contemporary and futuristic exploration of the art and science of nursing praxis including patterns of knowing: empirical, ethical, aesthetic, existential and emancipatory. Theories and models derived from nursing and the social sciences are synthesized for their usefulness in advanced practice nursing care for individuals, families, and communities to promote health and manage a variety of problems such as health threats, acute and chronic illnesses, and transitions. Opportunities are provided for students to synthesize family health concepts for use in clinical practice, scholarship, and research.
Don’t Miss: South College Nurse Practitioner Program
Tuition For The Demsn
Tuition for the Direct Entry MSN is $680 per credit hour. The program is 66 credits.
Fees cover the administrative costs of delivering your program. Fees for the DEMSN include:
- Books and Resources: $6,415
- Scrubs, Background Checks, Drug Screen, and End of Program Fees: $1,341
- DEMSN Tuition for 2022-2023 Academic Year : $680 x 66 credits: $44,880
Total Program Cost: $52,636
Courses For The Direct Entry Msn
- NUR 501 Foundations of Professional Nursing and Theories Guiding Practice
- NUR 502 Health and Physical Assessment
- NUR 509 Pathophysiology and Pharmacology Concepts
- NUR 520 Clinical Practice, Clinical Judgement, and Role Development I: Care of Adults with Common Health Problems
- NUR 530 Advanced Nursing Inquiry for Evidence-Based Practice
- NUR 575 Clinical Practice, Clinical Judgement, and Role Development II: Mental Health Nursing
- NUR 580 Clinical Practice, Clinical Judgement, and Role Development III: Care of Adults with Complex Health Problems
- NUR 609 Advanced Pathophysiology and Pharmacology Across the Lifespan
- NUR 618 Clinical Practice, Clinical Judgement, and Role Development IV: Nursing Care of Women, Children, and Families
- NUR 623 Clinical Practice, Clinical Judgement, and Role Development V: Population-Focused Nursing
- NUR 624 Healthcare Systems Management and Policy in a Diverse Community
- NUR 626 Nursing Informatics
- NUR 627 Health Promotion and Disease Prevention Across the Globe
- NUR 628 Clinical Practice, Clinical Judgement, and Role Development VI: Synthesis of Concept-Based Practicum
- NUR 639 Clinical Practice, Clinical Judgement, and Role Development VII: Contemporary Nursing Leadership/Management
- NUR 641 Knowledge Integration and Transition into Practice
Read Also: 2nd Degree Nursing Programs In Michigan
Other Options For Student Loan Forgiveness
If you dont qualify for any of the options above, you might still be able to receive forgiveness. Some hospitals and healthcare networks offer tuition assistance and loan forgiveness as a way to attract top talent, so be sure to check with the HR department to see what they offer.You might also consider a nursing career with the military. Many branches offer loan repayment programs on top of sign-on bonuses. Each branch has its own requirements and benefits, but in some cases you could receive more than $100,000 to apply to your student loans.
For Schools: Apply For A Loan Program
These loan programs are for schools and educational institutions only. Individuals, such as students, cannot apply for these loan programs.
We offer four loan programs to schools. Schools then offer loans to students in need who pursue a health professions degree. Each loan is long-term and low interest.
Students then deliver health care to people who lack access to primary health care services.
Read Also: Nurse Educators And Health Care Administration
What Is Student Loan Forgiveness For Nurses
Student loan forgiveness for nurses is when nurses get their college student loan debt forgiven by the federal government or state-based programs. These programs often require that a nurse hold a specific loan type, place of employment, or other requirements, so not all nurses will qualify. But for those that are lucky enough, they are definitely worth applying for.
The top 6 student loan forgiveness programs for nurses are:
What Is The Nurse Faculty Loan Program
The Nurse Faculty Loan Program is a federal program designed to increase the number of graduate nursing students who pursue careers as faculty in schools of nursing.
The program is funded by the U.S. Department of Health and Human Services , Health Resources and Services Administration , Bureau of Health Workforce Division of Nursing and Public Health, and allows nursing schools to make loans to their students enrolled full-time or part-time in advanced degree nursing programs.
Recipients of the NFLP loan may receive up to 85% of loan cancellation upon meeting the full-time employment requirement.
Don’t Miss: Pediatric Nurse Practitioner Programs Nyc
Service Requirements And Cancellation
The borrower has 12 months after graduating to begin working full-time as a faculty member in a U.S. school of nursing. At that time, the school will cancel an amount up to 85% of the principle and interest of an NFLP loan as follows:
- Upon completion by the borrower of each of the first, second and third year of full-time employment as a faculty member in a school of nursing, the school will cancel 20% of the principle of and interest on the NFLP loan, as determined on the first day of employment.
- Upon completion by the borrower of the fourth year of full-time employment as a faculty member in a school of nursing, cancel 25% of the principle of and interest on the NFLP loan, as determined on the first day of employment.
Army Nurse Corps Benefits/health Professions Loan Repayment Program
If you enlist in active duty or the Army Reserve, you can receive up to $250,000 in student loan forgiveness for nurses, paid directly to your lender. You may also be eligible for a signing bonus of up to $30,000 and other benefits, including a salary and housing allowance. The Army also offers several scholarships to attend school.
Who is Eligible: Nurses or other medical professionals
Learn More About/Apply to Army Nurse Corps.
Recommended Reading: Can Psychiatric Nurse Prescribe Medication
Apply To The Nurse Corps Loan Repayment Program
We pay up to 85% of unpaid nursing education debt for
- registered nurses
- advanced practice registered nurses and
- nurse faculty .
Review these Nurse Corps Loan Repayment Program requirements to find out.
Note: We give funding preference to those who need the most help financially.
Nurs 5710 Health Professions Education: Planning 3
This course will introduce students to important principles of educational planning, reflecting the literatures of adult learning, curriculum and instruction, diffusion of innovations research, and health professions education. The course will help students apply these principles to the practice of planning educational activities for health care professionals in various stages of education and training.
Don’t Miss: Private Nursing Schools In Houston
Nurse Faculty Loan Program Details
- Loan covers 100% of tuition, plus a semester-based allotment for books and related educational expenses
- After graduation, 85% of the loan will be forgiven if the student obtains a full-time educator position in an accredited nursing program within 12 months and maintains the position for at least four years
- Funding cannot be used toward general living expenses, health insurance, transportation costs or expenses specifically covered by another funding source
Nurs 5870 Health Policy & Populations
The role of collaborative health care teams in health promotion and risk reduction and illness prevention for population health. Educational strategies necessary for transformation of clinical education to decrease preventable deaths will be incorporated.
*A minimum of 2,080 hours of clinical experience as a Registered Nurse providing direct patient care is required prior to application in NURS 5062.
Note: No student may take more than 12 credits in the masters degree as a non-matriculated student. No student may transfer in more than 25% of course credits required for the masters degree plan of study.
The M.S. program requires a cumulative grade point average of 3.0 or above to earn the Master of Science degree in Nursing. Students must earn a B or better in all graduate courses with a NURS prefix in order to earn credit toward graduation. A student may only repeat one course with a NURS prefix throughout their graduate study. If a student does not earn a C+ or better on the first try, a collaborative decision between the advisor and the student will determine if a repeat of the course is appropriate.
Read Also: Lincoln Hills Nursing Home New Albany
Who Is Eligible To Apply
School of Nursing full-time or part-time DNP, PhD or MS Nurse Educator 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.
Service Obligation For Loan Forgiveness
- An NFLP borrower must, within 12 months of graduation, obtain full-time employment as a nurse faculty at an accredited school of nursing
- After each year of full-time employment, a portion of the NFLP loan will be forgiven
- Maximum forgiveness is 20% of the first three years and 25% of the fourth year of the remaining balance borrowed as determined on the first date of employment
- A service requirement/obligation incurred under another federal program for educational support must remain separate and distinct from the service requirement/obligation for the NFLP program
Read Also: How Many Years In School To Be A Nurse Practitioner
How Much Debt Do Nurses Have
The amount of debt students take on to earn their nursing degree varies widely from the school they choose to which degree they pursue. For instance, NerdWallet found that, on average, ADN-prepared nurses take on close to $20,000 in debt, BSN nurses, $23,711, and MSN-prepared nurses, over $47K.
Thankfully, there are lots of loan forgiveness programs available to nurses.
Students In Advanced Nursing Programs Eligible For Up To 85% Loan Forgiveness
Students accepted into the Edson College MS Nursing , DNP, PhD or the concurrent DNP/PhD programs are eligible to apply for the Nurse Faculty Loan Program to help complete their degree. After successfully completing their advanced nursing degree program, graduates who commit to work full-time for 4 consecutive years in a nurse faculty or clinical preceptor position, starting within a year after graduation, can receive up to 85% forgiveness of their loan.
The NFLP is a loan forgiveness program designed to increase the number of nursing students who pursue careers as full-time faculty teaching in accredited schools of nursing. NFLP is administered by the Health Resources and Services Administration, an agency of the U.S. Department of Health and Human Services. Award of NFLP funding does not guarantee a faculty or preceptor position post-graduation.
You May Like: Psychiatric Nurse Practitioner Salary North Carolina
Why The Name Hippo’
With a subtle nod to the Hippocratic Oath, Hippo Lending represents the convergence of medicine and finance. While we may not be saving lives, the underlying principles of the Hippocratic Oath closely align with our values: a commitment to service and treating our customers as people, not just a loan. We ensure privacy and always act from a position of unity and humility.
What Is The Commitment After Accepting
Within 12 months of graduation, recipients must meet the full-time employment requirement and the borrower can cancel up to 20% per year for the first, second and third years of full time employment, and 25% for the fourth year of employment for a maximum of 85% of the total NFLP loan.
Those who fail to meet one of the full-time employment definitions, within 12 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.
Please note, NFLP borrowers are allowed up to 12 months to gain employment following graduation from their course of study. The allowance period goes beyond the grace period for repayment , and provides the borrowers additional time to meet their service obligation and receive loan cancellation.
Recommended Reading: Christ College Of Nursing And Health Sciences
Will 2021 Student Loan Relief Be Extended
As of April 2022, students are eligible for a no-interest payment freeze through August 31, 2022. If you have a traditional repayment plan, your payment period will be extended. However, if you have an income-based plan, your loan repayment period will remain the same. If your payments are too high, you may be eligible to change to income-based repayment.
What Is Loan Forgiveness And How Does It Work
Nursing graduates can turn to student loan forgiveness programs and cancellation programs to help eliminate their student debt. Programs may offer full or partial financial help when nurses commit to working in underserved areas.
Dr. Karen Crowley, associate professor at the School of Nursing at Regis College, explains that student loan forgiveness programs offer the chance to eliminate student loan debt and gain continued job security. However, nurses should understand program specifications before accepting funds.
“It is essential that nursing students and nurses understand what will be required of them, for how long, and decide if these requirements are something they see as feasible,” she says.
Student loan forgiveness programs come with strings attached. Many require students to fulfill work commitments for at least two years. Crowley reminds nurses that, “because of the requirements set by these programs, nurses won’t have the flexibility of where they work or switching employers without loss of the forgiveness benefits.”
You May Like: Nursing Homes Toledo Ohio Area