Nurse Faculty Loan Repayment Program

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The next application cycle will be open July 1, 2020 to September 30, 2020.

Eligibility for nursing programs to participate

  • Colorado based public or private non-profit nursing programs.
  • A Colorado Board of Nursing approved nursing program.
  • Accredited by the Commission of Collegiate Nursing Education (CCNE) or the Accreditation Commission for Education and Nursing (ACEN).

Colorado Board of Nursing approved nursing programs

Eligibility for nurse faculty applicants

  • Be a U.S. citizen (United States born or naturalized) or be a U.S. national or lawful permanent resident.
  • Have at least a master's degree in nursing.
  • Be employed as a full-time or part-time nurse faculty member of an eligible school of nursing.
  • Have outstanding qualifying educational loans leading to a degree in nursing.
  • Have completed the nursing program for which the loan balance applies.
  • Have a current, full, permanent, unencumbered, unrestricted license to practice as an RN in the state of Colorado or be authorized to practice in Colorado pursuant to the Nurse Licensure Compact.

Educational loans eligible for repayment

  • Federal and/or private commercial loans that were taken out for education and expenses directly related to the discipline in which you're currently practicing.

Educational loans not eligible for loan repayment

  • Loans that were consolidated with any other type of debt or another person's debt.
  • HRSA Primary Care Loans.
  • Parent PLUS Loans.
  • Loans from a friend or family member.

Loan repayment awards & service obligation

  • Maximum $40,000 loan repayment for two consecutive academic years or their equivalent in a qualified faculty position. Qualified faculty position means full-time teaching position at the accredited nursing training program, which position required an advanced degree that meets national accreditation standards and is approved by the Colorado Board of Nursing.
  • Maximum $20,000 loan repayment for two consecutive academic years or their equivalent in a qualified faculty position. Qualified faculty position means part-time teaching position at the accredited nursing training program which position required an advanced degree that meets national accreditation standards and is approved by the Colorado Board of Nursing.
  • Nurse faculty member responsibilities must include classroom or clinical teaching or both.

Additional eligibility details

  • You cannot have a competing loan repayment service obligation, i.e., Nurse Corps, employer-offered loan repayment that obligates you to that nursing program for a specific time period.

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