Faculty Loan Repayment FAQs
Eligibility
Are international faculty eligible to receive funds?
Answer: No, individuals must be U.S. citizens.
I am participating in another faculty loan repayment program. Am I still eligible?
Answer: No, faculty enrolled in a federal loan forgiveness program are not eligible.
I am an educator, but my official title is not “faculty.” Am I still eligible?
Answer: Yes, individuals who are in a full-time academic teaching role (e.g., faculty, instructional academic staff, clinical associate professor, teaching assistant professor, lecturer) are eligible.
I am currently a full-time educator in a school/college of nursing. Can I receive loan repayment support as a new faculty member if I move to another school?
Answer: No, only individuals who are new to or returning to a full-time academic teaching role (after at least 1 one year in a non-academic position) are eligible.
– If you are a part-time instructor and you transition to a full-time faculty position, you are eligible for repayment support at your current institution (if this institution is on the list of approved schools/colleges of nursing).
Process
Is financial need a consideration?
Answer: No. Financial need is not a requirement.
What if I cannot teach full-time anymore due to personal circumstances?
Answer: Recipients will receive repayment support at the end of each of the three years of the teaching commitment. If you cannot fulfill the teaching commitment, the payment will not be made. Inability to fulfill the (3-year) teaching requirement may result in financial payback (prorated to account for years taught). Recipients are strongly encouraged to discuss this with their school administrator and HEAB.
Are there any limits to how much I can receive repayment assistance?
Answer: Depending on the loan amount, recipients will receive repayment assistance up to the maximum of $50,000 for PhD/DNP and $30,000 for MSN prepared faculty, while the fund lasts.
How are allocations awarded?
Answer: Funds will be allocated on a first come, first serve basis as applications are submitted to HEAB. https://heab.state.wi.us/.
When will the funds be dispersed?
Answer: 1/3 of the loan will be dispersed at the end of each of the three years during the 3-year teaching commitment.
How does the faculty access funds?
Answer: Funds will be disbursed to the faculty directly by HEAB
How soon after an application will the faculty be notified?
Answer: Approximately one month after the completed and approved application is submitted
Teaching Commitment Requirement
Where can I find the list of eligible schools for fulfilling the teaching requirement?
Answer: Teaching requirement must be completed at an eligible WI nursing
school/college. Individuals can verify eligibility with the school/college or with HEAB.
What is the definition of full-time when considering the payback requirements?
Answer: Full-time is defined as at least 1.0 FTE at the college/school where the faculty is employed.