Nurse Faculty Loan Program (NFLP)

Yes! It is a requirement that students who have used funding from our Nursing Faculty Loan Program complete the exit counseling once they have separated from Herzing.

Once you have separated from Herzing either by dropping below half-time status, withdrawing, or graduating, you will receive an email from UAS, Herzing’s loan servicer, prompting you to complete the required exit counseling. If you did not receive this email or are having any difficulties completing the exit counseling, please reach out to our Alumni Support Team at alumnisupport@herzing.edu, 1-866-508-0748, Option 7 so that we can assist you. Important links are also available in the checklist above.

“Nurse Faculty” is defined as an academic educator (faculty) or a clinical educator/instructor role at an accredited school of nursing, or a clinical educator/preceptor role at an accredited health facility. For NFLP graduates, “Full-time” nurse faculty employment is designated by the Herzing University as working an average of at least 30 hours per week. “Part-time” is designated as working an average of less than 30 hours per week. Full time employment status may include:

1. Employment as a full-time faculty member in an accredited school of nursing
2. Employment as a part-time faculty member (including adjunct positions) at an accredited school of nursing with another part-time faculty position (including adjunct positions) that equates to full-time employment.
3. Employment as a part-time faculty member (including adjunct positions) at an accredited school of nursing in combination with a part-time clinical educator/preceptor position (including adjunct positions) at an accredited health facility, affiliated with an accredited school of nursing that together equates to full-time employment.

Examples:

1. Full-time Faculty position (tenure or non-tenure track) = 1 Full-time employment status
2. Part-time faculty position (adjunct faculty/clinical instructor/part-time faculty) + 1 Part-time faculty position = 1 Full-time employment status
3. Part-time faculty position + 1 Clinical educator position (clinical educator, clinical preceptor) = 1 Full-time employment status

NFLP loans for all students will enter repayment after the 9-month grace period ends. However, students have up to 12 months after graduation from the program to secure full-time employment as a nurse faculty member and complete/submit the NFLP Employment Certification Form to the Program Director – Brandy Ebert - in Academics.

Once you have attained full-time employment as a nursing faculty member, you should reach out to the NFLP Program Director, Brandy Ebert, at bebert@herzing.edu to request the NFLP Employment Certification and Request for Postponement of Payment forms.

You are welcome to contact Herzing University’s Career Development team by phone at (866) 208-3344 or email at careerdevelopment@herzing.edu.

You will lose the 3% interest rate and eligibility to cancel or postpone the loan. However, you will still have the option to consolidate this loan with your federal direct loans (if applicable).

Yes, students have a 9-month grace period before the loans enter repayment. Students should also submit any requests for postponement of repayment before their 9-month grace period ends.

The NFLP loan is considered past-due 30 days beyond the repayment terms. If the loan becomes 180 days past due, the missed payments will be negatively reported to the credit bureau. This will also start acceleration – the full amount of the loan will be due and will go through the process of litigation. For more information, please contact our Alumni Support Team at alumnisupport@herzing.edu, 1-866-508-0748, Option 7, so that we can assist you.

A deferment form must be submitted to our Alumni Support –Financial Services team at least 30 days before an eligible activity. Activities eligible for a deferment include active duty in the military, volunteering in the Peace Corps, full-time or half-time enrollment in a nursing program leading to an additional graduate degree in nursing or an advanced professional training in nursing (e.g. fellowship and/or post-doctorate program). For more information, please contact our Alumni Support Team at alumnisupport@herzing.edu, 1-866-508-0748, Option 7, so that we can assist you.

If you switch your job, you must fill out a new NFLP Employment Verification within six months of starting your new position.

It varies based on enrollment status. Once a student graduates from HU, the interest rate will be 3% through the grace period and the additional three months while searching for qualified employment. However, you must secure full-time employment as a nurse faculty member for at least one full academic year to guarantee the 3% interest rate or it will increase to the prevailing market rate. If you withdraw from the university, the interest rate will coincide with the prevailing market rate of 11.5% - as of October 2023.

To receive loan cancellation, you must graduate from the program during the enrollment in which you used the NFLP loan and secure full-time employment as a nurse faculty member. Once you graduate, you are responsible for submitting the partial cancellation request form annually during the first four years of verification of qualifying full-time employment. You may qualify for partial cancellation after each complete year (or complete academic year) for up to four years of full-time nurse faculty employment in an accredited school of nursing.

The Nursing Faculty Loan Program is on a 10-year repayment term. Deferment and forbearance periods do not apply to the 10-year repayment period.

Taking advantage of this opportunity can be beneficial, especially for those who are unable to graduate or obtain full-time employment as nurse faculty within the first year of graduation. However, consolidating the loan may change the terms and result in the loss of partial cancellation benefits for graduates. For more information, please contact our Alumni Support Team at alumnisupport@herzing.edu, 1-866-508-0748, Option 7, so that we can assist you.

There’s a special process for adding an NFLP to a direct loan consolidation, here are instructions for that process.

University Accounting Services (UAS) is the servicer for your Nursing Faculty Loan. UAS will email you notifications throughout your enrollment, grace period, and repayment.