Applications are open! We’re accepting additional applications for the Nurse Faculty Loan Program (NFLP).
What is the NFLP?
The NFLP is a loan designed for graduate students who plan to become faculty members, instructors, or preceptors after they graduate. You can use it for educational expenses, but not living expenses. Loans can’t exceed $50,000 per student per academic year.
Why It’s Different: Loan Forgiveness
Unlike most loans, the NFLP forgives part of what you borrow if you go into nursing education.
- Up to 85% of your loan, including interest, can be forgiven if you work in an eligible full-time nurse faculty role after graduating. 20% is forgiven after each of your first three years, and 25% after your fourth.
- The remaining balance has a 3% interest rate, beginning 3 months after graduation.
- Repayment lasts 10 years. It begins 9 months after you finish your program, leave your program, or stop full-time faculty employment.
- You have 12 months after graduation to find eligible employment.
Heads up: If you don’t finish your degree, or you don’t find eligible faculty employment within 12 months of graduating, your interest rate switches to the current market rate.
What Counts as Eligible Employment?
Any of these paths qualify:
- Full-time faculty at an accredited school of nursing.
- Two part-time roles that add up to full-time. This means a part-time faculty appointment at an accredited school of nursing, plus another part-time faculty or clinical preceptor/educator role connected to an accredited school of nursing.
- A joint appointment as a full-time APRN preceptor within a formal academic-practice partnership. This option is for APRNs whose primary staff appointment is at a health care organization.
Who Can Apply?
To be considered, you must:
- Be a U.S. citizen, U.S. national, or lawful permanent resident
- Be a matriculated graduate student
- Be enrolled at least half-time (6 credits or equivalent)
- Submit a complete FAFSA every year
- Not be in default on a federal loan
Good to Know
- Applying doesn’t guarantee an award. Selection is based on your demonstrated commitment and on how much NFLP funding is available this academic year.
- Funds can’t be applied retroactively.
- Applications are reviewed on a rolling basis until the money runs out, so don’t wait.
- Continuing borrowers get first priority, followed by doctoral students.
Ready to Apply?
Apply for the Nurse Faculty Loan Program through the designated application process.
Questions, or want to talk it through? Email sonscholarships@uw.edu.
