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In an effort to address the shortage of nurses and the lack of instructors to staff courses teaching nursing in Illinois, the Nurse Educator Loan Repayment Program encourages longevity and career change opportunities. The program is intended to pay eligible loans to add an incentive to nurse educators in maintaining their teaching careers within the State of Illinois. The annual awards to qualified nurse educators may be up to $5,000 to repay their student loan debt, and may be received for up to a maximum of four years.
To be eligible, you must:
Each year you wish to apply for this program, you must submit a Nurse Educator Loan Repayment Application to ISAC. You may download and print an application here at collegezone.com. Applications are also available at all Illinois approved institutions that have practical or professional nursing programs, and at ISAC's Deerfield, Springfield and Chicago offices. You must submit your application to ISAC's Deerfield office as indicated on the application.
If your application is incomplete, ISAC will notify you and you will have the opportunity to furnish missing information. Your application will be considered for processing as of the date it is complete and all required information has been received at ISAC's Deerfield office.
Renewal applicants must submit an application each year, and may also be required to submit a history of prior awards in order to demonstrate that program proceeds were used for eligible educational loans.
Award amounts are based on the applicant's remaining balance on eligible education loans, not to exceed $5,000 per year. Proceeds will be remitted directly to the holder/servicer/lender of the loan(s) to be repaid.
Note that ISAC routinely updates this section as new information becomes available. Be sure to check back periodically for the current processing status.
For the 2011-12 Academic Year
ISAC is currently accepting Nurse Educator Loan Repayment Program applications for the 2011-12 academic year. There is a minimum 4-5 week turnaround from the date ISAC receives an application to when funds are disbursed for approved recipients. Depending on the volume of payment vouchers being processed by the State of Illinois Comptroller's Office, this timeframe may increase.
In order to qualify for this program, an applicant must have worked as a nurse educator instructing practical or professional nurses in an approved Illinois institution for at least the past 12 consecutive months prior to the date of each application. Click here to view a listing of approved Illinois institutions for this program.
© 2003-2012 Illinois Student Assistance Commission