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 be eligible to receive loan repayment assistance, a nurse must
- 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; and
- 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.
How to Apply
The application period for the 2017-2018 academic year is July 1, 2018 through August 31, 2018.
To download the fillable application form, go to the Nursing Faculty Loan Repayment Program Application. Applications must be received in our office or postmarked no later than August 31, 2018 to be considered.
Nurses may qualify for up to $7,000 in student loan repayment for a period of up to 5 years.
Repayment under this program will be reported as taxable income to the Internal Revenue Service by the Texas Higher Education Coordinating Board..
- 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; and
- 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.
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.
What is the service period?
The service period is a period of service equal to a minimum of nine months of a 12-month academic year. The standard is September through May of each year.
When will I receive my award?
The award will be forwarded to your lender(s) once the application has been reviewed and approved.