Federal Nurse Faculty Loan

Eligibility

Doctor of Nursing Practice (DNP) students committed to becoming Nurse Faculty. You must be a U.S. citizen or permanent resident, be enrolled for at least five (5) or more credits, maintain a minimum cumulative GPA of 3.0, and maintain enrollment for a minimum of two (2) consecutive terms/ semesters during an academic year while receiving a Nurse Faculty Loan program support. You must also complete two (2) nursing education courses and not be in default on any federal debt. To verify default status, Georgetown requires the completion of the Free Application for Federal Student Aid (FAFSA). Eligibility does not guarantee funding. Students enrolled in the master's, post master’s certificate program, or in the clinical nurse leader (CNL) program are not eligible.

Commitment
  • You must commit to stay in the Nurse Faculty Loan program for the duration of your academic program and graduate
  • You are expected to find and obtain full-time employment as a nurse educator in a school/college of nursing within one (1) year of graduation (Georgetown does not offer job placement for nurse educators nor is there any guarantees that you will find full-time employment as a nurse educator)
  • You have twelve (12) months from your graduation date to find employment as a full-time nursing faculty and to submit employment verification, or you will not be eligible for loan forgiveness 
Best Features
  • 85% loan forgiveness after four (4) years of serving as a full-time faculty member at an accredited school of nursing
  • Loan forgiveness: 20% for years one (1), two (2), and three (3); 25% for year four (4)
  • No interest accrual while enrolled at least half-time
  • Nine month grace period and ten year repayment period
  • You may not exceed $35,500 per academic year or five (5) years of support
In-School Rate Formula Fees In-School Rate
0% 0% 0%
Repayment Rate Formula Fees Repayment Rate
Simple interest at a fixed rate of 3% begins  three (3) months after you cease to be a student in the advance nurse education program or fall below the minimum eligibility requirement; or 0% 3%
Interest will accrue at the prevailing market rate if you fail to complete the advance nurse education program or to serve as full-time faculty member upon graduation 0% Prevailing Market Rate
PROMISSORY NOTE, TRUTH IN LENDING (TILA) Disclosures, AND Entrance counseling

Recipients of the Nurse Faculty Loan are required to complete Entrance Counseling, Truth in Lending Disclosures, and a Promissory Note before the funds are disbursed.  You will receive an unique PIN number, via email, to authenticate your identity when your promissory note, TILA documents, and Entrance Counseling are available.

EXIT COUNSELING 

Students must complete exit counseling upon dropping below half time status, taking a leave of absence, withdrawing or graduating.

For information regarding the Nurse Faculty Loan program, please contact Ella Heitzler at ella.heitzler@georgetown.edu or 202-687-1509.

For information regarding the Doctor of Nursing Practice program, please contact Peggy Slota at ms3909@georgetown.edu or 413-952-3317

For information regarding your Nurse Faculty Loan award, please contact John Mutarelli at jam334@georgetown.edu or 202-687-4547.

For information regarding the disbursement or repayment of the Nurse Faculty Loan, please contact University Student Services at finuloan@georgetown.edu or 202-687-3678.