Today, United States Senators Charles E. Schumer and Kirsten Gillibrand announced that a total of $65,428 from the American Recovery and Reinvestment Act (ARRA) has been awarded to Excelsior College through the Nurse Faculty Loan Program (NFLP). The funding will be used to support the training of masters and doctoral nursing students who plan to become nurse faculty after completing their education at each institution.
“This is a win-win for Albany,” said Schumer. “In the midst of a nursing shortage, this investment will provide critical workforce training for those about to enter the nursing profession as well as provide better healthcare for our communities in the long-term.”
“We cannot fix health care if we do not address the nursing shortage,” Senator Gillibrand said. “These federal dollars will help provide the resources we need to deliver care to Albany families who need more nurses the most. I will continue working with Senator Schumer to make sure New York gets its fair share from the federal government.”
NFLP funds go to schools of nursing to support the training of 500 masters and doctoral nursing students who plan to become nurse faculty after completing their education. Following graduation, loan recipients may cancel up to 85 percent of the loan principal and interest in exchange for four years of service as a full-time nursing faculty at a school of nursing.