Nurse Faculty Loan Program

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I was just wondering if anyone on this thread has taken advantage of this loan? I took the loan and have worked one year full time as a faculty member. The problem is I was offered this amazing opportunity in the hospital setting as an educator that I have since taken. I can't get ahold of anyone with this loan program to see if it would possibly be still covered under my duties. Anyone have any experience with this?

Thanks.

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Specializes in med/surg/ortho/tele.

is it SNAPLE loan. if yes then i believe its only for colleges and universities.

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Specializes in Emergency Dept, ICU.

Tennessee has a good program if you plan to teach in Tennessee. 60% forgiveness for 2 years, then another 25% after your 3rd year of teaching.

http://www.tn.gov/collegepays/mon_college/sch_app_pdfs/Nursing%20Scholarhsip%20Application%20.pdf

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Read the fine print of this before you make any decisions...it should be spelled out in the agreement. My grant does not cover hospital teaching so be careful...

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Specializes in Occ. Hlth, Education, ICU, Med-Surg.
is it SNAPLE loan. if yes then i believe its only for colleges and universities.

What does SNAPLE stand for?

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I live in NY. I thought it was for all my loans(100,000 for BS and MS) . Only covered 13,000 and had to teach for four years. Have health issues so I had to leave my job(won't get into it, read it under nurses with disabilities on this site)Got a job assisting the faculty in the nursing lab where a used to teach(couldn't find another 4 year college full time position anywhere). I have a YEAR to find one or I am in BIG trouble(credit is shot, was almost homeless, they didn't care). Think long and hard before taking this!

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Specializes in Nephrology/Dialysis.

I would say go back and read your promissary note that you signed when you received the loan. I am currently finishing up my MSN as a recipient of this and mine was quite clear that it is only as a full-time faculty member. I also asked whether each year reduces it by 15% that if I taught for two years and then left teaching would it be reduced by 30%. I was told that it does not and that it would require me to teach for four full years to forgive the majority of the debt. The promissary note has to detail how it is cancelled, and also anything that allows you to defer repayment.

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