PROGRAM OVERVIEW

The Vermont Educational Loan Repayment Program for Nurse Educators/Faculty was established in 2005 by the Vermont General Assembly with the goal of ensuring an adequate supply of nurse educators/faculty to educate the number of nurses needed to provide quality health care for all Vermonters. This program is funded by the State of Vermont, through the Department of Health, and is administered by the University of Vermont College of Medicine Area Health Education Centers (AHEC) Program.

Applications are available in August at:
www.med.uvm.edu/ahec

Description
Funded by state funds. AHEC shall make loan repayment awards in exchange for service commitments by health care educators/faculty. Recipient must have outstanding educational debt acquired in pursuit of an undergraduate or graduate degree from an accredited college or university that exceeds the amount of the loan repayment award.

State of Residence
Must be a Vermont resident.

Award Amount
Up to $20,000 in state funds per year. Grants go directly to pay educational loans.

Tax Liability
Vermont Educational Loan Repayment is taxable income, reported on tax form 1099.

Reapplication & Lifetime
Maximum Must reapply annually. May receive loan repayment funds for maximum of six years.

Service Obligation
One year of service as nurse educator/faculty per year of funding. Service period will be defined in award contract. No credit for teaching prior to date of contract. No credit during a leave of absence. Recipients who take a leave of absence will have to extend the end date of service.

Default of Service Obligation
Must repay proportionally to unserved period, plus collection costs.

General Eligibility Requirements
Recipient must be a nurse employed as nurse educator/faculty at a nursing program in Vermont (Castleton State College, Norwich University, Vermont Technical College, Southern Vermont College, or the University of Vermont). Must have a minimum of a bachelor’s degree.

Hours
Must work a minimum of part-time as nurse educator/faculty in Vermont during the year of service.

Ineligible Nurses
Individuals whose citizenship may limit their ability to fulfill the service obligation of this program; unpaid instructors/preceptors; those who have current loan forgiveness, loan repayment, scholarship, or other contractual service obligations.

Prioritization for Awards
Program objectives/selection criteria are established by the Vermont Department of Health and AHEC, in accordance with Vermont laws, and in consultation with representatives from Vermont’s five schools of nursing and other designated experts. Factors may include local goals; nursing recruitment or retention needs of a given institution; applicant educational loan debt level*; or other awarding parameters such as those areas and nursing specialties which are underserved with special consideration for Vermont’s most underserved areas and undersupplied specialties. Priority will be given to those first employed as nurse educators/faculty after July 1, 2005. Consideration will be given to the number of hours per week that applicant works as a nurse educator/faculty; preference will be given to full-time nurse educators/faculty.

* If awarded funds, each recipient is encouraged to continue making their own monthly payment(s) in addition to this award to further reduce overall educational debt; the recipient’s own debt reduction effort is viewed favorably in future applications.

AHEC is a statewide program working to improve Vermont’s community health systems and the health of Vermonters; and is a partnership between the Northeastern Vermont AHEC, Champlain Valley AHEC, Southern Vermont AHEC, and the University of Vermont College of Medicine AHEC Program.
Vermont Educational Loan Repayment Program is contingent upon continued funding by the VT General Assembly to the VT Department of Health