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 Resources and Services Administration (HRSA), Bureau of Health Professions, and allows nursing schools to make loans to their students enrolled in advanced degree nursing programs.

Following graduation and upon full-time employment in a school of nursing within six months of graduation, the borrower can cancel up to 20% per year for a maximum of 85 percent of the total NFLP loan (years 1, 2, 3: 20%; year 4: 25%). Those who fail to become full-time faculty members, at a single institution, within six 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 the Student Loan Office 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 for the cost of tuition, 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?

Georgia Baptist College of Nursing 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. MSN, DNP and PhD students who meet these qualifications are eligible. Top priority will be given to students who do not have full funding from other sources.

What are the awardees’ 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 Loan Office in Macon, Ga. every semester.
• Complete the nurse educator cognate series concentration, which includes 9 semester hours.
• Follow the application procedures for each year continued funding is desired (as required by HHS)

What is the process for applying?

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. Complete a Mercer Application for Financial Assistance. Complete an application specific to the NFLP program and return to Dr. Linda Streit. After acceptance and when award money is available, you will be notified by the Office of Student Financial Planning with an Award Letter. You must accept this aid in writing.

When and where do I submit my application?

Applications must be submitted through the Dean’s Office.

We offer the loan to all qualified students. You must actively accept the aid, and then it will be credited to your bill after signing a promissory note each semester.

*General information is believed to be correct but the applicant is responsible for understanding the financial commitment and obligations of the loan agreement. Please read it carefully for more detailed information.