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Institutions may award a maximum loan amount of $30,000 per student for an academic year. Upon completion of the program, an amount up to 85 percent of the loan may be cancelled by the institution as follows: upon completion of the first, second, and third year of full-time employment as faculty in a school of nursing, 20 percent of the principal of, and interest on, the amount of the unpaid loan shall be cancelled; upon completion of the fourth year of full-time employment as faculty in a school of nursing, 25 percent of the principal of, and interest on, the amount of the unpaid loan shall be cancelled. |
See AidPage for more information on: Nurse Faculty Loan Program (NFLP)
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