GRADUATE NURSING STUDENT LOAN FORGIVENESS

Through the Nurse Faculty Loan Program, graduate nursing students are eligible for up to 85% loan forgiveness.

The Nurse Faculty Loan Program provides cancellation of up to 85% of the student's original loans for up to 4 consecutive years of post-graduation nursing education employment.

Criteria for cancellation:
  1. Employment as a full-time faculty member at an accredited school of nursing.
  2. Employment as a part-time faculty member at an accredited school of nursing in combination with another part-time faculty position or part-time clinical preceptor/educator position affiliated with an accredited school of nursing that together equates to full-time employment.
  3. *Designation of nurse faculty in a joint nurse faculty appointment serving as full-time advanced practice registered nurse preceptor for an accredited school of nursing, within an academic-practice partnership framework

    *Students are encouraged to negotiate faculty status/designation with an accredited school of nursing prior to precepting students to ensure requirements are met for loan cancellation.

Loan cancellation occurs over four years with repayment of 20% of the total principal and interest repaid following years one, two, and three, and 25% being repaid following year four.
Repayment of the additional balance is postponed during the cancellation period. This loan accrues interest at a rate of 3% per annum, beginning 3 months after graduation; and after obtaining employment as a nurse faculty within 12 months following graduation.

Application Requirements:

  • Enrolled in a graduate nursing program at the University of Mobile.
  • Agree to complete all courses in the Nurse Educator Certificate program while completing your primary graduate program (12 credit hours). Nurse Educator Certificate
  • Meet all requirements of your primary graduate program.
  • Remain in good academic standing.

To Learn More, Contact Dr. Jessica Garner at jgarner@umobile.edu