Nurse Faculty Loan Program (NFLP) - (NFLP) - #93.264
Uses and Use Restrictions
The school must establish an NFLP fund to be used only for making NFLP loans to eligible students and for the costs associated with collection of these loans. Institutions may award a maximum loan amount of $35,500 per student for an academic year to support the cost of tuition, fees, books, and other reasonable education expenses. Upon completion of the program, an amount up to 85 percent of the loan may be cancelled by the institution as follows: upon completion of the first, second, and third year of full-time faculty employment in an accredited school of nursing, 20 percent of the principal and interest of the unpaid loan shall be cancelled for each year; upon completion of the fourth year of full-time employment as faculty in an accredited school of nursing, 25 percent of the principal and interest of the unpaid loan shall be cancelled for the fourth year. The school will establish an NFLP fund to be used only for making NFLP loans to eligible students and for the costs associated with collection of these loans. (See above for additional information.). Institutions may award a maximum loan amount of $30,000 per student for an academic year to support the cost of tuition, fees, books, laboratory expenses and other reasonable education expenses. Upon completion of the program, an amount up to 85 percent of the loan may be cancelled by the institution as follows: upon completion of the first, second, and third year of full-time faculty employment in a school of nursing, 20 percent of the principal and interest of the unpaid loan shall be cancelled for each year; upon completion of the fourth year of full-time employment as faculty in a school of nursing, 25 percent of the principal and interest of the unpaid loan shall be made be given for the fourth year.
Credentials/Documentation
Applicants should review the individual HRSA funding opportunity announcement issued under this CFDA program for any required proof or certifications which must be submitted prior to or simultaneous with submission of an application package. This program is excluded from coverage under OMB Circular No. A-87.
Criteria for Selecting Proposals
Applications will be reviewed for completeness and accuracy, and to determine if applicant schools meet minimum program requirements. All eligible applicants are considered in a formula for determining awards. Eligible applicants must meet all applicable Federal guidelines and/or graduates must be eligible for national nursing organization certification, and/or programs must meet other national organizational guidelines, as appropriate, in the nursing field of study.
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