Nurse Faculty Loan Program (NFLP)

Post Date

December 30th 2013

Application Due Date

February 3rd 2014

Funding Opportunity Number

HRSA-14-072

CFDA Number(s)

93.264

Funding Instrument Type(s)

Grant

Funding Activity Categories

Health

https://grants.hrsa.gov/webExternal/SFO.asp?ID=ec558bff-7ffc-41ee-9e4b-1038ad066cca

Number of Awards

110

Eligibility Categories

Other

Eligible applicants are accredited schools of nursing or a department within the institutionФthat offers an eligible advanced nursing education program yielding a graduate degree in nursing.

Funding

• Estimated Total Funding:

  $22500000

• Award Range:

  $0 - $0

Grant Description

This announcement solicits applications for the Nurse Faculty Loan Program (NFLP) to increase the number of qualified nursing faculty. ФThe NFLP provides funding to schools of nursing to support the establishment and operation of a distinct, interest-bearing NFLP loan fund. ФParticipating schools of nursing make loans from the fund to assist registered nurses in completing their graduate education to become qualified nurse faculty. ФThe program offers loan cancellation of up to 85 percent for borrowers that graduate and serve as full-time nursing faculty for the prescribed period of time. Accredited schools of nursing are eligible to apply for funding. ФEligible schools must offer educator coursework within an advanced education nursing degree program(s) that will prepare the graduate student to teach. The United States Department of Health and Human Services (HHS), acting through the Health Resources and Services Administration (HRSA) is authorized to enter into an agreement with the school and make an award to the school in the form of a Federal Capital Contribution (FCC). ФThe school must use the FCC to establish a distinct account called the NFLP fund. ФThe school is required to deposit an Institutional Capital Contribution (ICC) that is equal to no less than one-ninth of the FCC. Participating schools make NFLP loans from the loan fund to eligible students pursuing a full-time course of study, or at the discretion of the Secretary, a part-time course of study in an advanced degree program as specified under Part III of this announcement.Ф Students may receive NFLP loans up to $35,500 per academic year for a maximum of five years to support the cost of tuition, fees, books, laboratory expenses and other reasonable education expenses. Funding Priority:Ф A funding priority is applied for applicants if the school of nursing student loan supports doctoral nursing students. Following graduation from the nursing program, the nursing school will cancel up to 85 percent of the loan principal and interest in exchange for the loan recipientкs service as a full-time nursing faculty at a school of nursing, with a certain percentage cancelled each year for up to four years. ФThe loan cancellation over the four-year period is as follows: Ф20 percent of the principal and interest may be canceled upon completion of each of the first, second, and third years of full time employment, which, after the three year period, totals 60 percent, followed by the cancellation of 25 percent of the principal and interest upon completion of the fourth year of full-time employment as a faculty member in an accredited school of nursing. ФRepayment on the remaining 15 percent of the loan balance is postponed during the cancellation period. ФNFLP loans accrue interest at a rate of three percent per annum (per PHS Act Section 846A (c)(6)(A)) for loan recipients who establish employment as nurse faculty.

Contact Information

• Agency

  Department of Health and Human Services

• Office:

  Health Resources and Services Administration

• Agency Contact:

  Department of Health and Human Services, Health Resources and Services Administration, HRSA Grants Application Center, 910 Clopper Road, Suite 155 South, Gaithersburg, MD, 20878
  CallCenter@HRSA.GOV
  

• Agency Mailing Address:

  Contact HRSA Call Center at 877-Go4-HRSA/877-464-4772 or email CallCenter@HRSA.GOV

• Agency Email Address:

  CallCenter@HRSA.GOV