Nursing Faculty Loan Repayment Assistance Program
The purpose of the Nursing Faculty Loan Repayment Assistance Program is to improve access to nursing education programs by encouraging qualified nurses to serve as faculty at eligible institutions of higher education.
|
To speak to a Customer Service Representative regarding loan repayment programs, call 833-597-0454, Monday through Friday 8 a.m. to 5 p.m. CST. Online Inquiries: CONTACT US (select “Financial Aid Question” as the Contact Reason) |
Funding for State Fiscal Year 2020-2021
Priority for loan repayment assistance is given to prior year recipients who are continuing service in the program. There are not sufficient funds available to enroll new program participants during the state fiscal year beginning September 1, 2020.
Prior year recipients will be notified about the application for renewal awards before the end of the 2020-2021 academic year.
Eligibility Requirements
To be eligible to receive loan repayment assistance, a nurse must meet the following requirements:
- hold a master's or doctoral degree in nursing
- be licensed by the Texas Board of Nursing for the State of Texas
- apply to the Texas Higher Education Coordinating Board by the published application deadline
- at the time of application for repayment assistance, have been employed full time for at least one year, and be currently employed full time, as a faculty member of a nursing program at an eligible institution in a position that requires and advanced degree in professional nursing
For additional details, please review the administrative rules for the program.
Award Amount
- Nurses may qualify for up to $7,000 in student loan repayment for a period of up to 5 years.
- Loan repayment assistance received through this program will be reported to the Internal Revenue Service.
Eligible Loans
The following requirements apply for a loan to be eligible for repayment through this program:
- must be evidenced by a promissory note which required the loan proceeds to be used to pay higher education costs
- may not have an existing service obligation
- may not be in default status at the time of application
Frequently Asked Questions
What is considered full time?
The individual institution determines what is considered full-time employment as a member of the nursing faculty.
Can I receive payment for part time service?
No. A recipient must be a full time faculty member in order to be considered for loan repayment assistance.
What is the service period?
The service period is a minimum of nine months of a 12-month academic year.
When will I receive my award?
The award will be sent to your lender(s) after we have received and reviewed end-of-service period payment application and employment verification forms.
