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$2 Million of Loan Forgiveness Support On the Way

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Vanderbilt University School of Nursing recently received more than $2 million worth of funding from the nurse faculty loan programs from the U.S. Health Resources and Services Administration (HRSA) fund and the American Recovery and Reinvestment Act (ARRA) for master’s and doctoral students who want to become faculty members after graduation.

Specifically, the HRSA funds of $1.6 million will be used for part-time and full-time students pursuing their master’s degrees in the Science of Nursing or Doctor of Nursing Practice or Ph.D. degrees. They can receive up to $35,000 per year from this loan to cover tuition, fees, books, computers, and associated costs of education.

If students take a faculty role following graduation, 85 percent of the loan is forgiven for working four years as a full-time faculty member. The remaining 15 percent is payable over a 10-year period.

Vanderbilt University School of Nursing recently received more than $2 million worth of funding from the nurse faculty loan programs from the U.S. Health Resources and Services Administration (HRSA) fund and the American Recovery and Reinvestment Act (ARRA) for master’s and doctoral students who want to become faculty members after graduation.Specifically, the HRSA funds of $1.6 million will be used for part-time and full-time students pursuing their master’s degrees in the Science of Nursing or Doctor of Nursing Practice or Ph.D. degrees. They can receive up to $35,000 per year from this loan to cover tuition, fees, books, computers, and associated costs of education. If students take a faculty role following graduation, 85 percent of the loan is forgiven for working four years as a full-time faculty member. The remaining 15 percent is payable over a 10-year period.



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