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OSFA - The Federal Family Education Loan Program



FREQUENTLY ASKED QUESTIONS


- How much of my loan will the NSLFP forgive?

- How long am I eligible to participate in the NSLFP?

- How do I know if I am eligible for enrollment in the NSLFP?

- When can I apply for enrollment into the NSLFP?

- What determines who is enrolled?

- When do I receive a payment?

- Are payments retroactive to when I first started employment at a site?

- Will I be reimbursed for payments I have already made to my lender toward my nursing student loans?

- May I add a loan after I am enrolled in the program?

- I have more than one student loan for my nursing education. Will the NSLFP pay off the outstanding principal balances of each these loans?

- Where does the funding for the NSLFP come from?

- Are loans from parents, spouse, relatives, friends, or cash advances on credit cards, eligible to be paid through the NSLFP?

- What happens if I cease employment at a designated site and subsequently become employed at another designated site?

- Am I eligible to continue in the program if I go on maternity or medical leave?

- Are Federal Veteran’s Administration (VA) Hospitals designated as eligible sites for enrollment into the NSLFP?

How much of my loan will the NSLFP forgive?

The NSLFP will pay up to $4,000 for each year you are a participant in the program for a maximum of four (4) years.         Top

How long am I eligible to participate in the NSLFP?

You may participate in the NSLFP a maximum of four years, or until the outstanding principal balance of your nursing student loan is paid in full, whichever occurs first. No program participant will be continued in the program once 100% of the verified outstanding principal balance of student loan, incurred toward a nursing education, has/have been resolved.         Top

How do I know if I am eligible for enrollment in the NSLFP?

In order to be eligible for enrollment into the NSLFP, a nurse must:

  • Be currently licensed by the Florida Board of Nursing as a Licensed Practical Nurse (LPN), a Registered Nurse (RN), or an Advanced Registered Nurse Practitioner (ARNP);
  • Have an outstanding current student loan incurred toward a nursing education;
  • Not be or have been in default status on the nursing student loan;
  • Be employed full-time as a nurse at a designated site.         Top

When can I apply for enrollment into the NSLFP?

Enrollment into the NSLFP is quarterly. Complete Applications must be received during any of the following application periods:

November 1 - December 1
February 1 - March 1
May 1 - June 1
August 1 - September 1         Top

What determines who is enrolled?

Enrollment is based on available funds and awarded in order of the following criteria:
  1. Complete application packet;
  2. Designated Site priority;
  3. Date application received;         Top

- When do I receive a payment?

You do not receive a check. Payments are made at the end of each 12-month enrollment period.   The payments are made directly to the lender or holder of your loan, to be applied to the outstanding principal balance only, of your nursing student loan(s).         Top

- Are payments retroactive to when I first started employment at a site?

No.   The participation/employment year begins on the date you are actually enrolled into the program and concludes 365 days afterward.         Top

- Will I be reimbursed for payments I have already made to my lender toward my nursing student loans?

No.   The program assists you in paying off the outstanding principal balance only, of student loan(s) incurred toward your nursing education. A condition of the program is that you must continue to make your monthly payment or whatever arrangement you have with your lender.         Top

- May I add a loan after I am enrolled in the program?

No.   You may not add additional loans after you are enrolled in program. It is very important that you supply an original of the required Attachment 2, Loan Principal Certification Form, preferably completed in blue ink for each of your nursing student loans with your application.         Top

- I have more than one student loan for my nursing education. Will the NSLFP pay off the outstanding principal balances of each these loans?

Payment is made to the lender with the largest outstanding loan principal balance, first.   If the largest principal balance is paid and eligibility remains, the remaining payments will be made toward the next largest outstanding loan principal balance.         Top

- Where does the funding for the NSLFP come from?

The NSLFP is contingent upon available funds in the Nursing Student Loan Forgiveness Trust Fund.   This trust fund derives all its monies from a fee of $5 that is paid by nurses in Florida at initial licensure and renewal.         Top

- Are loans from parents, spouse, relatives, friends, or cash advances on credit cards, eligible to be paid through the NSLFP?

No.   Only the outstanding principal balance of those loans incurred from state or federal programs or commercial lending institutions, for your nursing education, which you are personally responsible for, are eligible.         Top

What happens if I cease employment at a designated site and subsequently become employed at another designated site?

Participants are required to maintain full-time employment at a designated site for each enrollment year, with no break in service (i.e. greater than 31 days).         Top

Am I eligible to continue in the program if I go on maternity or medical leave?

Yes, provided the leave is an approved maternity or medical leave and does not result in a change of employment status.         Top

Are Federal Veteran’s Administration (VA) Hospitals designated as eligible sites for enrollment into the NSLFP?

No.  Federal Veteran’s Administration (VA) Hospitals do not qualify as eligible employment sites for enrollment into the NSLFP. However, VA Nursing Homes operated by the State of Florida are eligible.         Top

Contact Us

1-800-366-3475
Toll-Free

850-410-5200
Local Metro Area
Tallahassee, Fl

Email to:
OSFAStudentLoans@fldoe.org

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