The purpose of NFLP is to increase the number of qualified nursing faculty to facilitate education of the nurses needed to address the nursing workforce shortage. The NFLP seeks to achieve this purpose by providing funding to schools of nursing to support the establishment and operation of a NFLP loan fund.
Participating schools of nursing make loans from the fund to assist registered nurses in completing their graduate education to become qualified nurse faculty. The program offers partial loan forgiveness for borrowers that graduate and serve as full-time nursing faculty for the prescribed period of time. The loan recipients may cancel 85 percent of the loan over four years in return for serving full time as faculty in any accredited school of nursing.
Eligible entities are accredited collegiate schools of nursing and other qualified academic departments offering eligible advanced master's and/or doctoral degree nursing education programs that will prepare students to teach.
NFLP funds are awarded to institutions.