The Nurse Faculty Loan Program was created to recruit students enrolled in advanced nursing education programs to teaching positions at nursing schools across the country. Funded by a grant through the Department of Health and Human Services, the Nurse Faculty Loan Program provides loan debt reduction benefits of up to 85% in exchange for fulfilling a four-year service requirement as an instructor in a school of nursing. To participate in the program, recipients must be enrolled in a University of Utah advanced nursing education program and must commit to serving as faculty at a school of nursing following graduation.
The NFLP loan will bear interest on the unpaid balance of the loan at:
The borrower has 12 months after graduating to begin working full-time as a faculty member in a school of nursing. At that time the school will cancel an amount up to 85% of the principle and interest of an NFLP loan as follows: