Nurse Scholars Program (NSP/MNSP)

The NSP/MNSP Program provided merit-based loans to North Carolina students who commit to work as registered nurses or nurse educators in North Carolina. You must complete your loan forgiveness obligation within seven years of graduation from the program, excluding periods of approved deferment.

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 on the degree level for which you received financial assistance
• Obtain licensure from the North Carolina Board of Nursing
• Secure employment in a qualified position

How to Apply for Loan Forgiveness

1. Notify NCSEAA of your intent to repay through loan forgiveness within 90 days of graduation or completion of your approved education program, even though you may not have secured a qualifying position. You may complete this process during the exit interview process on the Student Portal or through Repayment Services at (919) 549-8614, ext. 4654 or (800) 700-1775, ext. 4654.
2. Obtain licensure from the North Carolina Board of Nursing.
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 NSP/MNSP 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: NSP/MNSP 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 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: NSP/MNSP Deferment.