School Gets Loan Forgiveness Grant
Vanderbilt University School of Nursing has received a $427,499 award from the Nurse Faculty Loan Program (NFLP) grants for 2013-14. This is the 10th consecutive year that VUSN has received the grant from the U.S. Department of Health and Human Services, Health Resources and Services Administration (HRSA).
The grants are designed to help ease a national shortage of nursing educators. The American Colleges of Nursing’s 2012 report concluded that 66 percent of surveyed nursing schools pointed to faculty shortages as a reason for not accepting qualified applicants into baccalaureate programs.
Students who receive loans for master’s or doctoral degree programs can have up to 85 percent of the loan forgiven in exchange for service as full-time nursing faculty members at an accredited school of nursing. Students continue to receive funds for the duration of their degree program as long as they maintain good academic standing. The NFLP was approved by Congress in 2002. VUSN’s NFLP grants now total more than $4.6 million.