Nurse Educators Loan Forgiveness Program
The Nurse Educators Loan Forgiveness Program is funded by the Rhode Island Student Loan Authority (RISLA). RISLA will make loan repayment awards in exchange for service commitments by Nurse Educators newly recruited to the position. Loan repayment applicants must have unpaid educational debt from an accredited college or university that equals or exceeds the amount of the loan repayment award.
How do I qualify?
Nurse Educators hired on or after April 1, 2012 to teach at a degree granting accredited institution in Rhode Island licensed by the Rhode Island Board of Nursing Registration are eligible to apply.
What is the maximum benefit?
The Nurse Educators Loan Forgiveness Program provides awards of up to $5,000 annually for a maximum of four years.
What is my commitment?
Eligible Nurse Educators must teach full or part time as a member of the nursing faculty at any Rhode Island educational institution licensed by the Rhode Island Board of Nursing Registration. Loan forgiveness benefits for part time nurse educators shall be awarded on a pro rata basis depending on the normal full time teaching requirement at an institution. Awards go directly to pay educational loans. Annual student loan forgiveness will be granted after fulfilling the normal annual teaching requirement at an institution. RISLA will fund eligible recipients until it has reached its proposed cap of $240,000 in total loan forgiveness funded by RISLA.
Must I have a loan from the Authority?
Nurse educators are not required to have a loan from RISLA to benefit from this program. However, if a nurse educator does have an educational loan from RISLA as specified above such loan shall be the first loan against which the annual award is applied.
How do I apply?
Complete the nurse educator loan forgiveness application. Once you have completed the form, please return it to Rhode Island Student Loan Authority, 560 Jefferson Blvd. Suite 200, Warwick, RI 02886-1371.
THIS PROGRAM IS SUBJECT TO THE AVAILABILTY OF FUNDS.