About the Program
The Nursing Education Loan Repayment Program provides student loan repayment assistance to registered nurses working in Maine as nurse educators or relocating to work in Maine in a position as a nurse educator at a nursing education program.
The program was established for the purpose of increasing the number of nursing faculty in nursing education programs in the State of Maine.
Program recipients may receive awards totaling up to $40,000 depending on highest degree attained and work status. Full-time and part-time nurse educators are eligible to apply.
Loan repayment awards are disbursed over a three-year period. Awards are paid directly to a recipient’s loan servicer and cannot be paid for an amount more than that which is outstanding at the time of payment.
Eligibility
- Be a nurse registered in the state of Maine;
- Have completed a master’s or doctoral degree in nursing, or currently enrolled in a master’s or doctoral degree program in nursing;
- Possess outstanding education loans relating to a master’s or doctoral nursing degree. Undergraduate loans cannot be considered for this program;
- Teach in a nursing education program at an eligible Title IV institution in Maine;
- Sign a statement of intent in a form acceptable to FAME to work as nursing faculty in a nursing education program in Maine for a minimum of 3 years after acceptance into the Nursing Education Loan Repayment Program;
Program Awards
Full-Time Faculty:
- Up to $6,667 annually, $20,000 total over 3 years for faculty with a master’s degree in nursing.
- Up to $13,334 annually, $40,000 total over 3 years for faculty with a doctoral degree in nursing.
Part-Time Faculty:
- Up to $3,334 annually, $10,000 total over 3 years for faculty with a master’s degree in nursing.
- Up to $6,667 annually, $20,000 total over 3 years for faculty with a doctoral degree in nursing.
Prior to each disbursement, recipients must supply evidence of continued employment in an eligible position, proof of continued professional qualification, and evidence of outstanding loan balances.
Renewals
There are no renewals. This is a one-time selection, awards to be disbursed over three years, and subject to employer certification.
How to Apply
The application cycle for the Nursing Education Loan Repayment Program closed on March 31, 2024. The next application cycle will open on February 1, 2025.
Selection
Each application completed by the deadline will be reviewed by FAME for program eligibility. All applicants will be notified by mail of the selection decision.
This program is governed by Maine law as set forth in 10 M.R.S.A. §1019
Additional Questions?
If you have additional questions, please contact a FAME education program specialist Monday through Friday, 8:00 a.m. to 4:00 p.m.
207-623-3263 | Toll-free: 800-228-3734 | TTY: 207-626-2717
