Nurse Faculty Loan Program

The NFLP is a service cancelable loan available to DNP and Ph.D. students who plan to teach after graduation. Students apply annually for a loan to cover tuition costs, books, fees, and software. Students who apply annually will have all expenses covered for their doctoral degrees, including the project and dissertation credit hours. However, this loan does not fund costs for living expenses and travel.

Application

To apply for the NFLP, students must:

• Be enrolled full-time or part-time in the DNP or Ph.D. program;
• Agree to take at least three nurse education classes as electives or in addition to the established program of study
• Be in good academic standing;
• Meet citizenship requirements;
• Must NOT be in default on other Federal loans; and
• Complete the ONLINE NFLP Application.
• Candidates must also complete FAFSA online to be considered for funds.

Funds are awarded through the UAH Office of Financial Aid, and students must accept the award and sign promissory notes before funds are placed in student accounts by the Bursar’s Office.

Enrollment

Students who take courses according to their programs of study are eligible to apply annually for the NFLP. Students who request a leave of absence are not eligible to receive the NFLP during that period but can restart the NFLP when they return. Students who received the NFLP but become inactive in the program must start repayment of the NFLP at the prevailing interest rate.

Graduation

The NFLP is 85% cancelable under the following conditions:

• Students complete the doctoral program and the required education courses.
• Alumni take full-time nurse faculty employment in one of three ways:
  • Employment as a full-time faculty position in an accredited school of nursing;
  • Employment as a part-time faculty member at an accredited school of nursing in combination with another part-time faculty position or part-time clinical preceptor/educator position affiliated with an accredited school of nursing that together equates to full-time employment; or
  • Designation of nurse faculty in a joint nurse faculty appointment serving as full-time advanced practice registered nurse (APRN) preceptor for an accredited school of nursing, within an academic-practice partnership contract.
• The loan is canceled over a 4-year-period is as follows: 20% of the principal and interest may be canceled upon completion of each of the first, second, and third years of full-time employment, which, after three years, totals 60%, followed by the cancellation of 25% of the principal and interest upon completion of the fourth year of full-time employment.
• Repayment of the remaining 15% of the loan balance and interest is postponed during the cancellation period. NFLP loans accrue interest at a rate of 3% per annum beginning 3 months after graduation (per PHS Act Section 846A (c)(6)(A)) for loan recipients who establish employment as nurse faculty.