Nursing Faculty Loan Services

General Information

The Nursing Faculty Loan Program (NFLP) is a new loan program funded by the Health Resources and Services Administration (HRSA) Bureau of Health Professions which allows nursing schools to make loans to their students enrolled full time in advanced degree nursing programs. This is not a need-based loan program; however, students must complete a FAFSA.

To obtain an NFLP loan, the student must contact the School of Nursing and complete an application. You may write or call the School of Nursing directly.

Margaret Hill
Assistant Dean for Administration
The University of Texas
School of Nursing
1700 Red River
Austin, Texas 78701

Phone: 512-471-9906

Fax: 512-471-4910

Campus Mail: D0100

We have included the NFLP Guidelines* (PDF) for your convenience.

The Loan Services Section of Student Accounts Receivable is responsible for the collection of NFLP loans. Repayment begins shortly after leaving school. Our office will contact you before the end of the semester and will stay in contact until the loan is paid in full.

Grace Period

This loan has a nine-month grace period which will begin when the student graduates or when enrollment status drops below full time. Full-time status is nine or more class hours.

The first three months of the grace period are interest free. Interest will accrue monthly at three percent Annual Percentage Rate (APR) for the remaining six months and must be paid monthly. You will be mailed a monthly statement for the interest due each month.

During the grace period, two notices will be mailed to remind you of this loan. One notice will be mailed at 90 days into the grace period, and the second notice will be mailed at 150 days.

Before the end of the grace period, you must submit certification of employment to our office. The certification will determine the interest rate applicable to your loan at the end of the grace period.

Interest Rate

The NFLP accrues interest at the rate of three percent annually during repayment. Interest begins to accrue three months into the grace period and is due monthly.

If a borrower fails to complete an advanced nursing education program, the interest rate will change to the prevailing market rate.

If a borrower fails to obtain employment as nurse faculty, the interest rate will change to the prevailing market rate.

If loan repayment is postponed due to employment as nurse faculty, interest will continue to accrue monthly but is not due. Upon successful completion of a year’s employment, the accrued interest for that year and a percentage of the loan principal are canceled.

Name / Address Changes

You, as the borrower, are responsible for keeping the university current on any address changes. Loan Services uses the “local address” maintained by the Registrar’s office for your mailing address. Failure to receive correspondence or your monthly statement does not remove your responsibility for providing required documentation or from making your payment on time.

Name Changes:

• If your last name changes, let us know the new name. We can add the new name to your loan for mailing purposes only without changing your official name with the university. Your academic records will remain unchanged.

• Call, write, e-mail, or fax us with your request.

Address Changes :

• Indicate your new address on your payment coupon.
• Go online and change your address using ROSE: http://www.utexas.edu/student/registrar/rose/
• Call our office!
• When moving, be sure to complete a “Change of Address” form with the U.S. Post Office.

Communication

You may designate another individual to handle the affairs of your Nursing Faculty loan, but you must provide us with written authorization.

Please complete our authorization form* and return it to our office.

Additional Information

If you dispute the terms of your loan in writing, and the institution does not resolve the dispute, you may contact the following for assistance:

U.S. Department of Health and Human Services (HHS)
Public Health Service
Health Resources and Services Administration
Bureau of Health Professions
Division of Nursing

Program Officer: Ms. Denise Thompson

Phone: 301-443-1399

Fax: 301-443-0791

E-mail: dthompson@hrsa.gov

http://www.hrsa.gov/grants/06guidance/nflp.htm

* NOTE: Best viewed with Adobe Acrobat Reader 6.0 or later. Earlier versions may result in incomplete rendering of information. A free update of Adobe Acrobat Reader may be obtained from Adobe.