Graduate Nursing Loan Forgiveness Program
Those who accept the award must sign a promissory note and in doing so incur an obligation to enter a faculty or administrative position at a college or university in Tennessee in a nursing education program. The obligation is equivalent to four (4) years of full-time employment to have the loan forgiven, immediately upon completion of the education program.
If recipients do not meet this obligation the award must be repaid. Repayment will begin if the recipient does not complete the plan of student or is not employed in a faculty or administrative position. Interest accrues at 9% from the date of each disbursement.
Awards are made in equal installments each term throughout the academic year. The award may be renewed three times for a total of four (4) years or for the length of the program of study, whichever is less.
To be eligible, the applicant must:
- be a Tennessee resident and a U.S. citizen, and
- have an unencumbered Tennessee nursing license, and
- be enrolled in an eligible master’s degree or a post master’s degree in a nursing educational program at an eligible institution.
This loan forgiveness program does not apply to any other loan forgiveness program and cannot be applied to existing student loans that the applicant may have received.
Award recipients must attend an eligible Tennessee college or university and be enrolled in a graduate program accredited by the National League for Nursing Accrediting Commission (NLNAC) and/or by the Commission on Collegiate Nursing Education (CCNE). Also, the program must be approved by the Tennessee Board of Nursing and lead to a master’s or post-master’s degree in a field of study which will qualify the graduate to become a teacher or administrator in a college or university nursing education program in Tennessee. For a list of eligible institutions, please click here to a view a listing on the TN Dept. of Health's website.