Nurse Faculty Loan Program (NFLP)
St. Thomas University was awarded a grant to help address the national nursing faculty shortage. The grant is from the Nurse Faculty Loan Program (NFLP) – a federal government-sponsored loan program from the Health Resources and Services Administration created to address the nation’s need for qualified nurse faculty.
Each academic year qualify participants in the loan program can “borrow” up to $12,000 per year in exchange for the promise to teach four years upon graduation. In return for full-time, post-graduation employment as nurse faculty at an institution, the program cancels up to 85 percent of the loan taken (plus interest thereon). Each of the four years of teaching cancels a percentage of the loan leaving graduates with the repayment of only 15 percent of the total loan funds borrowed. Additional funds are secured annually as needed to support all interested students.
Doctor of Nursing Practice (online) program qualifies for this loan program.
Click here for more information on the Nurse Faculty Loan Program.