Nurse Educators of Tomorrow Program (NET) – Inactive Program

The NET Program provided forgivable loans to North Carolina students pursuing masters and doctoral degrees to become nursing instructors at North Carolina public and private colleges. You must complete loan forgiveness within seven years of graduation, excluding periods of approved deferments.

You must repay your loan through loan forgiveness or cash payments.

Option 1: Loan Forgiveness

Requirements

You must meet the following requirements to qualify for loan forgiveness:

• Graduate from the program for which you received financial assistance
• Work full-time or part-time as a nurse educator in North Carolina in a nursing program approved by the North Carolina Board of Nursing*

*If you signed a promissory note that restricts loan forgiveness to working as a nurse educator in a North Carolina community college, you must fulfill your loan obligation by working at a community college or repay the loan in cash. If you signed a nonrestrictive promissory note, you may work in any public or private nurse education position in North Carolina in a nursing program approved by the North Carolina Board of Nursing.

How to Apply for Loan Forgiveness

1. Submit verification of graduation to NCSEAA.
2. Notify NCSEAA of your intent to repay through loan forgiveness within 90 days of graduation.
3. Secure a qualified position.
4. Complete a Loan Forgiveness Application form and return it to NCSEAA for approval.

For additional information see Frequently Asked Questions about Loan Forgiveness.

Option 2: Repay the Loan in Cash

If you cannot repay your loan through loan forgiveness, then you must repay it in cash within ten years of graduation or withdrawal from the NET program. You may either repay the loan in one lump sum or monthly installment payments.

For additional information and instructions on how to repay in cash, visit Frequently Asked Questions: NET Cash Repayment.

Deferment

A deferment is a period in which service or cash repayment of a loan is postponed or delayed. Although payments are not due during a deferment period, interest at the rate of ten percent each year will continue to accrue on the outstanding principal balance of your loan. You may apply for deferment by completing and returning a Postponement/Deferment Form to NCSEAA for approval.

For additional information visit Frequently Asked Questions: NET Deferment.