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. Selected nurse educators may qualify for loan repayment. This new program awards up to $20,000 over three years for individuals who have completed their master’s degree in nursing or up to $40,000 over three years to individuals who have completed their doctoral degree in nursing.
- Be a nurse registered in the state of Maine;
- Be currently enrolled in a master’s or doctoral degree program in nursing or have completed a master’s or doctoral degree in nursing;
- Possess an outstanding education loan relating to a master’s or doctoral nursing degree;
- Sign a statement of intent in a form acceptable to FAME to work as full-time nursing faculty in a nursing education program in Maine for a minimum of three years after acceptance into the nursing education loan repayment program;
- Teach in a nursing education program at an eligible Title IV institution in Maine;
- Submit evidence of outstanding educational loans attributable to education for master’s or doctoral degree; and
- Submit proof of full-time employment in a form acceptable to FAME such as a contract or employment letter.
Loan Repayment Amounts
Up to $6,667 annually, $20,000 total over three years for individuals who have completed their master’s degree in nursing.
Up to $13,334 annually, $40,000 total over three years to individuals who have completed their doctoral degree in nursing.
Prior to each disbursement, recipient must supply evidence of continued employment in an eligible position, proof of payment posting, proof of professional registration, and evidence of outstanding loan balances.
There are no renewals. This is a one-time selection, disbursed over three years.
How to Apply
The application cycle for the Nursing Education Loan Repayment Program closed on September 1, 2022. Applications received and completed by September 1, 2022 midnight are currently under review. All applicants will receive written notification of their selection status by the end of October 2022.
Each application will be reviewed by FAME for program eligibility. All applicants will be contacted by mail of the selection decision.
This program is governed by Maine law as set forth in 10 M.R.S.A. §1019
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