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NC Forgivable Education Loans for Service. Summer, 2012 Bill Cox Deputy Director Grants, Training and Outreach North Carolina State Education Assistance Authority. FELS - Introduction.

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Nc forgivable education loans for service
NC Forgivable Education Loans for Service

Summer, 2012

Bill Cox

Deputy Director

Grants, Training and Outreach

North Carolina State Education Assistance Authority


Fels introduction
FELS - Introduction

2011 General Assembly enacted legislation that merged multiple state programs into a single new program – FELS for 2012-13


Fels intent of program
FELS – Intent of Program

Provides financial assistance in the form of forgivable loans to qualified students who are committed to working in North Carolina in identified critical employment shortage professions

Current target employment areas are teaching, nursing, allied health and medicine


Fels history
FELS - History

  • With creation of FELS, the following programs will cease funding new students beginning 2012-13

    • Nurse Educators of Tomorrow Scholarship Loan

    • Nurse Education Scholarship Loan Program

    • Nursing Scholars Program

    • Board of Governors’ Dental Scholarship Loan

    • Board of Governors’ Medical Scholarship Loan

    • Prospective Teachers Scholarship Loan

    • Teacher Assistant Scholarship Fund

    • Health, Science, and Mathematics Student Loan

      www.CFNC.org/FELS


Fels history1
FELS - History

  • Millennium Teachers Scholarship Loan (Elizabeth City State University, Fayetteville State University and Winston-Salem State University) merged with PTSL on January 1, 2012. PTSL will become FELS on July 1, 2012.

  • Renewal recipients only after January 1, 2012

  • New applicants after January 1, 2012 must have applied for the new FELS program

    www.CFNC.org/FELS


Fels student eligibility requirements
FELS – Student Eligibility Requirements

A recipient must meet the following eligibility criteria to be considered for FELS:

Be a legal North Carolina resident and NC resident for tuition purposes

Register with the Selective Service System, if required;

Must not be in default, or does not owe a refund, under any federal or State loan or grant program

Maintain Satisfactory Academic Progress according to policy of the institution.

Be willing to work in NC in a designated critical employment profession.

Not contingent on FPell or Title IV eligibility


Fels student eligibility requirements1
FELS – Student Eligibility Requirements

  • Minimum cumulative grade point (GPA) average at the time of application, must be:

    • 3.00 for graduating high school students (weighted GPA)

    • 2.80 for undergraduate students pursuing an associate or bachelor's degree

    • 3.20 for students pursuing a graduate or professional degree

      Minimum GPA not required for renewal (SAP is required for renewal)

      Currently offered fall and spring semesters; not available in the

      summer


Fels how much
FELS – How Much?

Annual Loan Amounts are as follows:

Diploma, Certificate and/or associate degree programs: $3,000

Bachelor's degree program: (freshmen and sophomores) $3,000

Bachelor's degree program: (juniors and seniors) $7,000

Master's degree program: $10,000

Doctoral degree program: $14,000

Maximum Aggregate Loan Limits:

Diploma, Certificate and/or associate degree programs: $6,000

Bachelor's degree program: $20,000

Master's degree program: $20,000

Doctoral degree program: $56,000

Total Maximum Aggregate: $56,000


Fels how much1
FELS – How Much?

By credit hour:

12 credits or more - Certificate, Diploma or Associate degree programs: $3,000

12 credits or more - Bachelor's degree program: Freshman and Soph: $3,000

12 credits or more - Bachelor's degree program: Junior and Senior: $7,000

9 credits or more - Master's degree program: $10,000

9 credits or more - Doctoral degree program: $14,000

6 - 11 credits - Certificate, Diploma or Associate degree programs: $1,500

6 - 11 credits - Bachelor's degree program: Freshman and Soph: $1,500

6 - 11 credits - Bachelor's degree program: Junior and Senior: $3,500

6 - 8 credits - Master's degree program: $5,000

6 - 8 credits - Doctoral degree program: $7,000


Fels how much2
FELS – How Much?

Some exceptions:

1. RIBN program (Regionally Increasing Baccalaureate Nurses):

First three years at CC, last year at a four year school

  • 12 credits or more - Bachelor's degree program: Fresh, Soph and JR: $3,000

  • 6 - 11 credits - Bachelor's degree program: Fresh, Soph and JR: $1,500

  • 12 credits or more - Bachelor's degree program: Senior: $7,000

  • 6 - 11 credits - Bachelor's degree program: Senior: $3,500

    2. Undergraduate Bachelor of Nursing:

    First two years must be at an Approved Institution offering the BSN degree

    3. Undergraduate Teaching

    First two years can be at a community college


Fels advisory group
FELS - Advisory Group

  • General Assembly provided that an advisory group would periodically make recommendations to SEAA regarding identifying critical shortage professions

    • For 2012-13, this group included representation from:

      • NC Community Colleges

      • UNC General Administration

      • Council for Allied Health in NC

      • Department of Commerce

      • Cecil G. Sheps Center for Health Services Research

      • NC Independent College and Universities

      • Department of Public Instruction


Fels approved programs
FELS – Approved Programs

Education Programs (Undergraduate or Master’s)

Biology

Chemistry

English as a Second Language

Math

Middle Grades

Science

Special Education


Fels approved programs1
FELS – Approved Programs

2011-12 TASF recipients – special population

TASF recipients for 2011-12 only

Permitted to apply for FELS regardless of discipline

Loan forgiven for teaching any discipline

Other requirements for forgiveness same as

Approved “Education” programs

Offered for the 2012-13 year only


Fels approved programs2
FELS – Approved Programs

Nursing Programs

Nurse Educator (Masters, Doctorate)

Nurse Practitioner (Masters, Doctorate)

Nursing (ADN, LPN, BSN, RN2BN, RIBN)

Medical Programs

Dentistry (DDS)

Medical Doctor (MD)

Osteopathy (OD)

Podiatry (PD)

Psychology (PhD or PsyD)


Fels approved programs3
FELS – Approved Programs

Allied Health Programs

Chiropractic Care (Doctorate)

Cytotechnology

Dental Hygiene

Emergency Medical Science

Emergency Medical Technology

Medical Technology

Occupational Therapy & Assistant

Optometry (Doctorate)

Pharmacy (PharmD) & Technician

Physical Therapy (Doctorate) & Assistant

Physician Assistant

Radiography

Radiology & Radiology Technician

Sonography


Fels the commitment to work
FELS – the Commitment to Work

  • Loan recipients must sign a promissory note that will require them to seek loan forgiveness through employment in an approved position or repay in cash with interest

  • Loan recipients must be continuously enrolled in an approved education program

  • Generally, a loan for one academic year will be forgiven for:

    • one year of full-time employment; or

    • two years of part-time employment in an approved qualified position

  • Interest will accrue at rate of 8% per year from the date of disbursement

  • The repayment period generally will not exceed ten years and varies depending on the borrower’s degree program and loan amount


  • Fels forgiveness requirements
    FELS – Forgiveness Requirements

    Teaching

    • Complete the Approved Education Program

    • Obtain licensure from NCDPI

    • Teach in a qualified position

      • Includes employment in a NC public school or charter school, school operated by the State of NC or operated by the federal government in NC

        Employment as an administrator or as a substitute teacher or employment in a nonpublic school, community college or institution of higher learning is not eligible for forgiveness


    Fels forgiveness requirements1
    FELS – Forgiveness Requirements

    Nursing

    • Complete the Approved Education Program

    • Obtain licensure from NC Board of Nursing

    • Practice nursing at the Approved Education Program funding level

    • Work in a qualified position in North Carolina

      • Includes employment in health care delivery positions that provide medical services to North Carolina residents

        Nurse Educators

    • Teach at a public or nonprofit institution approved by the NC Board of Nursing


    Fels forgiveness requirements2
    FELS – Forgiveness Requirements

    Allied Health

    • Complete the Approved Education Program

    • Obtain certification or licensure from applicable licensing agency

    • Work in a qualified position in North Carolina

      • Includes employment in health care delivery positions that provide medical services to North Carolina residents


    Fels forgiveness requirements3
    FELS – Forgiveness Requirements

    Medicine

    • Complete the Approved Education Program

    • Obtain licensure from NC Medical Board

    • Work in a qualified position in North Carolina

      • Includes employment in health care delivery positions that provide medical services to North Carolina residents


    Fels approved institution s responsibilities
    FELS – Approved Institution’s Responsibilities

    Execute a Participation Agreement

    Certify that borrowers meet the eligibility criteria

    (NC Resident for Tuition Purposes, Approved Education program, SAP, etc.)

    Disburse FELS funds to borrower accounts

    Refund money within prescribed timeframes

    Maintain records

    Reassure current recipients that renewals will be honored based upon the terms of renewal

    Renewals require successful academic progress (SAP)


    Fels additional thoughts
    FELS – Additional thoughts

    Please update your publications and websites NOW to remove references to the discontinued programs and to share the FELS information with interested parties

    Renewals require successfully progressing (SAP), so no decisions before the end of each Spring semester

    Students will be offered FELS for one Approved Education program (or degree) at a time and will need to re-apply for FELS for any subsequent degree plan


    Fels resources and contacts
    FELS – Resources and Contacts

    • The program rules can be found at http://www.ncseaa.edu/Program_Information.htm

    • Terrence Scarborough, Program Manager, SEAA

      • terrence@ncseaa.edu

        NCSEAA Student Portal (for students):

        www.cfnc.org/seaastudent