Seal on the oval

Loans

There are a variety of loan programs available to nursing students. Please keep in mind that loans accrue interest and must be repaid either while attending school, after you graduate or after withdrawing from the university. Visit the Student Financial Aid website for more information on loans. If you would like to contact a financial aid counselor for assistance, you can do so through Buckeyelink.

During Spring Semester there may be students whose financial aid goes into repayment because the projected graduation date is automatically calculated by the system based on a student’s rank. Graduate students are given one full year to graduate, so the system expects students to graduate after a year. When a student does not apply to graduate the semester the system expects them to, the system will automatically give them another year once they enroll for the upcoming term and pay their fees. Electronic notification of the new projected graduation date is sent to the lender, which corrects the date in their system as well. In most cases the students have already received a letter from the lender saying they are going into repayment, however. As long as the student has enrolled for the upcoming term and paid his or her fees the situation will automatically be resolved.

To manually resolve the situation, an Enrollment Verification Form, which has the corrected projected graduation verification date, can be downloaded from Buckeyelink to send to the lender. To print the form log into Buckeyelink, select Records and Enrollment, then select Enrollment Verification.

 

Satisfactory Academic Progress (SAP) Notification and Appeal Process

Satisfactory Academic Progress is monitored by the Office of Student Financial Aid and regulated by the federal government to ensure students obtain their graduate degrees within 90 credit hours, that they successfully complete 67% of their attempted hours, and they maintain a 3.0 GPA to receive financial aid.

Upon receiving the SAP warning, the next steps are based upon whether this is your first warning for credit hours or a warning for GPA. If this is your first warning for credit hours, please follow the steps outlined below. If you received multiple SAP warnings or a warning for GPA, please file the SAP appeal form.

For those receiving their first SAP appeal for credit hours, email your Graduate Program Manager (GPM) the following information. The GPM will submit the information to financial aid on your behalf. Please send the answers to the following questions: 

  • Is this your first SAP warning for maximum time frame?
  • What is your program?
  • What is your specialty track?
  • How many credit hours do you have left to take?  Include any minors, specializations, or elective classes.

 

Nursing Faculty Loan Program (NFLP)

The NFLP is designed to address the growing shortage of nursing faculty across the country. This shortage has broad-reaching implications; it has created a large number of open faculty opportunities at colleges and universities, which can influence the number of nursing students admitted and educated in nursing programs. The number of graduates being educated in academic institutions is not able to adequately address the growing need for qualified nurses to provide quality healthcare to our nation’s population. The NFLP provides funding to eligible doctoral students enrolled in the College of Nursing who have an interest in becoming a full-time faculty member upon completion of their terminal degree. The program has a cancellation provision for up to 85 percent of the loan for recipients working full-time as nursing faculty for a period of four years after graduation. Twenty percent of the loan may be canceled for each of the first, second and third years, and 25 percent may be canceled for the fourth year of full-time employment as nursing faculty.

The application for the 2024-2025 academic year is now open! If you are interested in applying, you must complete the following:

  1. Submit an online application through Qualtrics. The online application must be completed in one sitting, as you are not able to start and save your work. Please budget at least 30 minutes for this portion of the process.
  2. Submit a statement describing your professional goals in relationship to an academic faculty position. This statement should be 1-2 pages in length and can be uploaded to your application or you can email it to Gina Clark (clark.2829@osu.edu) separately by the deadline.
  3. Submit your 2024-2025 FAFSA. The application and all materials are due by July 31 for consideration of funds.

An NFLP information session was held on Tuesday, July 9. The recording can be accessed here.

FAQs
How do I know if I am eligible for the NFLP?

Students must meet the criteria listed below to be eligible for the NFLP:

  • US citizen or foreign national with a visa for permanent US residence
  • Enrollment as a doctoral student in the College of Nursing, with satisfactory progress towards your degree (DNE, DNP, or PhD)
  • Have no judgement liens entered based on the default on a federal debt
  • Must have a FAFSA on file
How do I apply for the NFLP loan?

Step 1: To apply for the NFLP, students must submit an online application and personal statement. More specific instructions will be sent to your name.# and buckeyemail accounts prior to the application opening. The application is projected to open in summer 2024.

Step 2: Submit your 2023-2024 FAFSA.

What does the NFLP cover?

The NFLP can be used to cover the cost of tuition, fees, books, lab expenses, and other reasonable education expenses. NFLP funding may not exceed $40,000 per student per academic year. The amount cannot exceed the student’s cost of attendance. Funds awarded through the NFLP are distributed to student accounts every Autumn and Spring semesters. Summer term is not included in the NFLP award.

What classes can I take to gain additional preparation in nursing education?

Although not required, students awarded the NFLP loan may enroll in all or some of the courses below:

  • DNE 8115 Wellness and resilience in nursing education and professional development
  • DNE 8480 Quality improvement for the DNE-prepared nurse
  • DNE 8537 Assessment and evaluation in nursing education and professional development
  • DNE 8538 Curriculum design for nurse educators
  • DNE 8780 Evidence-based practice nursing education and professional development
  • DNE 8781 Evidence-based teaching and interprofessional education in nursing
Are schools required to make loans available to previous NFLP recipients ahead of new students?

NFLP grantees are expected to award loans to new and continuing students in accordance with the disbursement plan described on the application.

Are new admits eligible to receive the NFLP loan?

Yes, new admits are eligible to receive the NFLP loan.

Will I have to pay interest on the NFLP loan if I am unable to find employment as an educator following graduation?

Yes, if borrowers do not complete the program or do not obtain full-time faculty employment at an accredited school of nursing within 24 months of graduation, borrowers will begin accruing interest at the prevailing market rate.