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This document outlines the terms and conditions of a loan provided to eligible nurse faculty borrowers under the Nurse Faculty Loan Program, including eligibility criteria, loan amount, repayment,
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How to fill out nurse faculty loan program
How to fill out NURSE FACULTY LOAN PROGRAM (NFLP) PROMISSORY NOTE
01
Obtain the NURSE FACULTY LOAN PROGRAM (NFLP) promissory note form from your educational institution's financial aid office.
02
Read the instructions carefully to understand the terms and conditions of the loan.
03
Enter your personal information in the specified sections, including your name, address, and Social Security number.
04
Indicate the total loan amount you are requesting.
05
Review the interest rate, repayment period, and deferment options provided in the document.
06
Sign and date the promissory note to indicate your agreement to the terms.
07
Provide any required supporting documentation as instructed by the financial aid office.
08
Submit the completed promissory note to the designated office for processing.
Who needs NURSE FACULTY LOAN PROGRAM (NFLP) PROMISSORY NOTE?
01
Individuals who are enrolled or accepted for enrollment in a nurse faculty program at an eligible institution.
02
Students who require financial assistance to support their education while pursuing a career as a nurse educator.
03
Borrowers looking for favorable loan terms to help alleviate the costs of their nursing faculty education.
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Who is eligible for the Nflp?
Any nursing program should qualify, so long as your position is full-time faculty at an accredited school of nursing. If you are current full-time faculty, you do qualify to request NFLP funding presuming that you will continue in that position after graduation, per the terms of the loan.
Do nursing professors get loan forgiveness?
Faculty Loan Repayment Program (FLRP) for Nurses Similar to the NURSE Corps LRP, the Faculty Loan Repayment Program (FLRP) offers nurses the chance to receive debt relief for securing a full- or part-time teaching role at a public or private nursing school for a minimum of 2 years.
What is the nurse faculty repayment loan program?
About the program The NFLP seeks to increase the number of qualified nursing faculty nationwide by providing low interest loans for individuals studying to be nurse faculty and loan cancellation for those who then go on to work as faculty.
What is the average interest rate on a FAFSA loan?
The interest rate for undergraduate Stafford loans, both subsidized and unsubsidized, is 6.53%. Rates are fixed for the life of the loan. (For more, see How Interest Rates are Determined.) The interest rate for unsubsidized Stafford loans made to graduate students is 8.08%.
Who qualifies for the nurse corps loan repayment program?
Program Description Loan repayment is available to Registered Nurses (RN) and Advanced Practice Registered Nurses (APRN) working in a public or private eligible Critical Shortage Facility (CSF) OR Nurse Faculty employed at an eligible school of nursing.
What is the interest rate for the direct unsubsidized Stafford loan?
For undergraduate students, the interest rate for Federal Direct Unsubsidized loans disbursed between July 1, 2024 - June 30, 2025 is 6.53%.
What is the national fixed interest rate?
Today's national mortgage interest rate trends For today, Friday, May 09, 2025, the current average 30-year fixed mortgage interest rate is 6.83%, rising 7 basis points from a week ago.
What is the current student loan interest rate?
If you got your loan after July 1, 2024, and before July 1, 2025: For undergraduate students, the interest rate for Direct Subsidized Loans and Direct Unsubsidized Loans is 6.53%. For graduate or professional students, the interest rate for Direct Unsubsidized loans is 8.08%.
What is the interest rate for the Nflp?
While the NFLP loan bears interest on the unpaid balance at the rate of 3% per annum beginning 3 months after graduation from the program, neither interest nor principal is required to be paid during the nine month grace period. During the grace period, NFLP borrowers may repay the loan but are not required to do so.
What is NFLP?
Nurse Faculty Loan Program (NFLP)
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What is NURSE FACULTY LOAN PROGRAM (NFLP) PROMISSORY NOTE?
The Nurse Faculty Loan Program (NFLP) Promissory Note is a legal document that binds the borrower to repay loans received under the NFLP. It outlines the terms of the loan, including interest rates, repayment schedules, and obligations of the borrower.
Who is required to file NURSE FACULTY LOAN PROGRAM (NFLP) PROMISSORY NOTE?
Individuals who receive loans under the Nurse Faculty Loan Program are required to file the NFLP Promissory Note. This typically includes nursing faculty and students enrolled in nursing education programs.
How to fill out NURSE FACULTY LOAN PROGRAM (NFLP) PROMISSORY NOTE?
To fill out the NFLP Promissory Note, the borrower must provide personal information such as name, address, and Social Security number, as well as details about the loan amount, interest rate, and repayment terms. It is important to read the document carefully and ensure all information is accurate before signing.
What is the purpose of NURSE FACULTY LOAN PROGRAM (NFLP) PROMISSORY NOTE?
The purpose of the NFLP Promissory Note is to establish a legally binding agreement between the borrower and the lender regarding the terms of the loan, including repayment obligations, in order to support the borrower’s education and career in nursing education.
What information must be reported on NURSE FACULTY LOAN PROGRAM (NFLP) PROMISSORY NOTE?
The NFLP Promissory Note must report information such as the borrower's name and personal details, the loan amount, the interest rate, repayment schedule, and any conditions or provisions related to the loan and repayment process.
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