Nurse Faculty Loan Program
Nebraska Methodist College has been awarded nearly $1,000,000 by the Health Resources and Services Administration (HRSA) for the Nurse Faculty Loan Program (NFLP) for the 2013-2014 academic year.
The NFLP is a nursing school grant program at NMC that will provide up to 85% loan forgiveness to assist nurses working to complete their MSN degree to become qualified nurse educators. Students at NMC who are awarded NFLP assistance receive loans that pay for tuition and fees each semester the students are enrolled in the program, fulltime or part-time.
Nebraska Methodist College will receive $983,853 for the 2013-14 academic year from the U.S. Department of Health and Human Services through the Nurse Faculty Loan Program (NFLP). The college has been receiving this grant since 2003 bringing the total award to more than $3,033,407 to help battle the nurse educator shortage.
The purpose of the NFLP is to make funds available for graduate students pursuing the master of science degree in nursing (MSN) with a concentration in nursing education at NMC. This program addresses the faculty shortage and growing demand for qualified nursing faculty in academic settings. The nurse faculty loan program is available online to students from across the United States, which helps with the nursing shortage at the local, regional, state and national levels.
"Our aging population continues to escalate the demand for more nurses. We need nurse faculty to provide that education," said Linda Foley Ph.D., MSN, RN, director of graduate nursing programs at NMC. "This program provides the incentive and the financial support to recruit the professionals who will be charged with educating that next generation of nurses."
Loan recipients who complete the program can cancel up to 85 percent of the loan principal and interest in exchange for four years of service as a full-time faculty member at a school of nursing in any state. Twenty percent of the debt is cancelled for each of the first three years of service and the additional 25 percent for the fourth year. Payment of the remaining 15 percent of the loan balance is deferred during the cancellation period.
< To see if you qualify, request more information.