Nursing Faculty Loan Program (NFLP)

The Nursing Faculty Loan Program (NFLP) is for master’s program nursing students seeking a career as a nursing faculty member.  

Students enrolled in Mount Mercy’s Master of Science in Nursing program earning a Nurse Education emphasis are eligible to receive a low interest loan, with up to 85 percent forgiven after four years of teaching at a post-secondary institution. 

Once admitted to the MSN program, students interested in NFLP funding should contact the MSN program director.

Nursing Faculty Loan Program (NFLP)  - Frequently Asked Questions


Who is eligible to apply? 
 
  Students enrolled in the master’s program earning a Nurse Education emphasis, and who intend to teach fulltime at a post-secondary institution with an LPN or RN education.  
 

How does the NFLP loan support work?
 
  Eligible students may borrow up to the cost of tuition and books per semester. Upon graduation, to be eligible for the 85% cancellation, the borrower must agree to serve as a full-time nurse faculty member at an accredited school of nursing for a period of four (4) consecutive years. To receive the cancellation, paperwork must be completed and submitted on an annual basis after each year of service.
 

Am I required to apply for FASFA before I request NFLP? 

  Yes, you must apply for FASFA before requesting the NFLP.
 

Can I also apply for federal aid if I’m also applying for the NFLP?  
 
 
Yes, you can apply for for both federal aid and for the NFLP.
 

How long do I have to find a faculty position after I graduate? 
 
  After graduation from Mount Mercy’s Master of Science in Nursing program, in order to qualify for the FNLP cancellation, a borrower must gain full-time employment within 12 months. The loan will go into repayment after the nine (9) month grace period. 
 

What happens if I fail to secure full-time employment or do not teach the full four (4) years? 
 

 

Failure to maintain employment as a full-time faculty member at an accredited school of nursing results in the loan being placed into repayment status. Repayment of the loan will be at the prevailing market rate. 
 

How do I apply for the NFLP? 
 
   To apply for the Nursing Faculty Loan Program, contact Student Financial Services at (319) 368-6467 or studentfinancialservices@mtmercy.edu.
 
   
For more information
:
Dr. Sharon Guthrie, PhD, ARNP, CPNP, NCSN, RN-BC
Director of Master of Science in Nursing
sguthrie@mtmercy.edu | 319-363-1323 ext. 1538