The NFLP (Nurse Faculty Loan Program) at the NYU Rory Meyers College of Nursing is a federally funded financial assistance program sponsored by HRSA (Health Resources and Services Administration) that aims to achieve two broad goals: to increase the number of qualified nurse faculty nationwide and to reduce the financial barriers for nurse faculty with loan cancellation options.
Purpose: Aims to recruit, train, and support doctoral and advanced nursing students who are committed to becoming nurse educators upon graduation.
Funding & Support: Provides low-interest loans to cover the cost of tuition, fees, books, lab expenses, and other reasonable education expenses (including student nurse educator development activities) for the duration of their course of study.
Loan Cancellation/Forgiveness: The program cancels up to 85% of the loan in exchange for four years of full-time employment as nurse faculty or in qualifying clinical/preceptor educator roles post-graduation.
To be eligible to receive an NFLP loan, a borrower must:
- Be a citizen or national of the United States.
- Be enrolled (full-time or part-time) in one of the following programs:
- Nursing Education (MS)
- The Florence S. Downs PhD Program in Nursing Research and Theory Development
- Doctor of Nursing Practice (DNP)
- Be in good academic standing at NYU Meyers.
- NFLP loan proceeds are available to eligible students to offset the cost of tuition, fees, books, and supplies.
NFLP borrowers are limited to a 12-month time frame to establish employment as full-time nurse faculty at a school of nursing following graduation from the program. If employment verification is not submitted within the 12-month period, the borrower will NOT be eligible for the loan cancellation provision.
Grantees agree to serve on the faculty of an accredited health professions school for a minimum of two years. Individuals selected to participate are granted cancellation of 20% of the principal and interest on the amount of the unpaid loan balance upon completion of each of the first, second, and third year of full-time nursing faculty employment, and 25% of the principal of and the interest on the amount of the unpaid loan balance upon the completion of the fourth year of full-time employment. Therefore, a maximum potential of 85% of the outstanding principal and interest can be canceled and paid by the Federal government. If the participant ceases employment after two years, the repayment schedule will be established for the remainder of the unpaid loan.
To apply for the HRSA Nurse Faculty Loan Program, please contact the Scholarship Officer, Julie Rubio, at jr4917@nyu.edu.