Nurse Faculty Loan Repayment Program
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).
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.