The Nurse Faculty Loan Program (NFLP) provides funding for accredited schools of nursing to establish and/or operate a student loan fund. Grantees will loan money to students, and up to 85% of each loan may be forgiven upon completion of up to 4 years of full-time employment as a faculty member in an accredited school of nursing.
The ultimate goal of the program is to improve the health of underserved and vulnerable populations by strengthening the health workforce and connecting skilled professionals to communities in need.
Eligible applicants are public or private nonprofit accredited schools of nursing offering educator coursework as part of an advanced education nursing degree program that prepares students to serve as nurse faculty.
Multiple applications from an organization are allowable; however, applicants can submit only one application per campus.
Award amount: Formula-based
Project period: 1 year
Estimated Number of Awards: 90
Total Funding Available: $28,500,000
Cost sharing is mandatory for this program. Institutions are required to provide an Institutional Capital Contribution (ICC) that is equal to at least one-ninth of the award amount.