Frequently Asked Questions about the Faith A. Fields Nursing Scholarship Loan

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1 ARKANSAS STATE BOARD OF NURSING 1123 S. University Avenue, Suite 800, University Twer Building, Little Rck, AR Phne: (501) Fax: (501) Frequently Asked Questins abut the Faith A. Fields Nursing Schlarship Lan What is the Faith A. Fields Nursing Schlarship Lan? The Faith A. Fields Nursing Schlarship Lan prvides frgivable lans t students pursuing a curse f study leading t qualificatin as a registered nurse (Nursing Practice Lan), licensed practical nurse (Nursing Practice Lan), r nurse educatr (Nurse Educatr Lan). Funding fr this lan prgram is prvided thrugh the Arkansas State Bard f Nursing (ASBN). Wh qualifies fr the schlarship lan? Applicants fr the schlarship lan must meet certain criteria in rder t be cnsidered fr this schlarship, as fllws: Bna fide Arkansas resident. Be accepted r enrlled in an Arkansas apprved nursing educatin prgram r natinally accredited ut f state nursing prgram that meets requirements f ASBN and Department f Higher Educatin. Have a valid financial need that is identified by the required filing f the Free Applicatin fr Federal Student Aid (FAFSA) applicatin. Nt be related t an Arkansas State Bard f Nursing Bard member r staff accrding t the Arkansas Neptism plicies Hld a current unencumbered nursing license (if already licensed as a nurse). Additinal criteria fr Nurse Educatr Lan applicants: Teaching r hired t teach in an Arkansas nursing educatin prgram. Enrlled in Arkansas apprved r natinally accredited baccalaureate r master f nursing prgram, r dctrate f nursing prgram. Hw much funding may a recipient receive? Each schlarship recipient may be awarded up t $20,000. This amunt is awarded ver multiple semesters, if the recipient cntinues t qualify fr funding. Full time students may receive up t $5,000 each semester (up t $10,000/year) and part time students up t $2,500 each semester (up t $5,000/year). Hw many credit hurs are required fr full time and part time status? Full time status is determined by the educatinal institutin in which the applicant is enrlled. Part time status is defined as a minimum f six (6) credit hurs during the fall and spring terms and three (3) credit hurs during the summer term. Page 1

2 What are cnsidered educatinal csts? The ASBN may make a schlarship lan t an applicant t pay fr the applicant s tuitin, maintenance, and ther educatinal expenses while the student is enrlled in a prgram f nursing educatin. Reasnable educatinal csts shall be defined as tuitin, bks, fees, supplies, equipment and materials that are identified as mandatry by the prgram in which the financial aid recipient is enrlled in t btain nursing educatin leading t licensure as a registered nurse (Nursing Practice Lan), licensed practical nurse (Nursing Practice Lan) r nurse educatr (Nurse Educatr Lan). Hw d I apply? The applicatin can be dwnladed frm The applicant is required t submit a cmplete applicatin frm and ther required dcuments. The applicatin and all ther required dcuments shuld be submitted t the Arkansas State Bard f Nursing. An applicatin will nt be reviewed if the applicatin is incmplete and/r the applicant fails t submit all ther required dcuments prir t the deadline. When is the applicatin deadline? Applicatins are accepted January 1 June 1 f each year. D I have t cmplete the Free Applicatin fr Federal Student Aid (FAFSA) reprt? Yes. The FAFSA reprt must be cmpleted; a current Free Applicatin fr Federal Student Aid (FAFSA) applicatin at Whse infrmatin d I use t cmplete the financial sectin f the applicatin? Cmplete this sectin with the financial infrmatin f the student. If His/her parents supprt the student, answer yes t the questin D yu receive financial supprt frm yur parents? and list parents and the amunt f expected supprt under the next questin Other Expected Surces f Funds. Submit tax return fr applicant and/r parents. What are the required dcuments /attachments that must be submitted with the applicatin? Applicants fr the schlarship lan must submit certain required dcuments, as fllws: Prf f Arkansas Residence (ie. Cpy f driver s license, cpy f vter s registratin card, cpy f state identificatin card,r cpy f state tax return). Letter f acceptance t an apprved nursing educatin prgram, r if already enrlled in a nursing educatin prgram, submit a current fficial transcript. Schedule f yur prgram f study utlining curses that remain t be taken t cmplete yur degree. List enrllment by semester and credit hur. Must be signed by yur advisr. A cpy f the first tw pages f yur federal incme tax return fr the prir year. If yu filed yur return married filing separately yu must als attach a cpy f yur spuse s Page 2

3 return. If yu are nt required t file a return, r if yu receive any supprt frm yur parents, yu must als send a cpy f yur parent s return. An fficial transcript frm yur highest level f educatin. Written explanatin, curt recrds and ther relevant dcuments if marked yes t Backgrund Infrmatin questin(s). Dcumentatin f Permanent Resident Alien status (if applicable). D I need t verify enrllment? Recipients f the nursing schlarship lan prgram shall verify their enrllment via submissin f their prgram eligibility, their anticipated prgram cmpletin date, and their academic standing after the cmpletin f each semester and summer sessin. When and hw will I knw if I am a recipient f the schlarship/lan? ASBN will make decisins regarding wh will be awarded mney. A list f accepted recipients will be psted n the ASBN website at What rle des the Arkansas State Bard f Nursing perfrm in the lan prgram? The ASBN receives applicatins and materials submitted by the applicant, determines the eligibility f the applicants, determine which applicants may participate, funds the lan, and disburses mney. Hw is the schlarship mney awarded t the recipient? The schlarship is paid directly t the educatinal prgram at the beginning f each semester. Any funds left after expenses are paid will be dispersed t the student by the financial aid fficer f the respective educatinal institutin. Can the schlarship be used fr previus educatinal expenses? N. The schlarship funds are awarded nly fr current educatinal expenses. Can I attend any nursing educatin prgram? N. Fr recipients f the Nursing Practice Lan, the prgram must be a natinally accredited, reginally accredited and/r prgram apprved by the ASBN which leads t qualificatins as a registered nurse r licensed practical nurse. Fr recipients f the Nurse Educatr Lan, the prgram must be a BSN r higher degree prgram which leads t qualificatins as a nurse educatr. In additin, the prgram must be natinally accredited, reginally accredited and/r apprved by the ASBN. Can I renew my lan? Hw ften must I apply fr this prgram? Yu must reapply annually, by June 1 f each year, t be cnsidered fr a nursing schlarship lan. If mney is nt available t fund all eligible applicants, cmpleted applicatins submitted t the Page 3

4 ASBN shall be priritized fr funding based n each applicant s academics, financial need, and willingness t serve in Arkansas. I received schlarship funds fr the semester in which I am currently enrlled; can I receive schlarship funds fr additinal semesters? Yes. Subject t the availability f funds and cntinued eligibility f the recipient, each schlarship shall be renewable annually until the degree is btained r the maximum amunt f the schlarship fund is awarded. D I have t repay the schlarship? N, fr recipients f the Nursing Practice Lan, as lng as yu wrk cntinue t engage in the practice as a registered nurse r licensed practical nurse in the state f Arkansas fr ne year fr each year a schlarship was awarded. N, fr recipients f the Nurse Educatr Lan, as lng as yu teach in a nursing educatin prgram in the state f Arkansas fr ne year fr each year a schlarship was awarded. What happens if I am required t repay the schlarship lan? Schlarships will be repaid with interest at the maximum legal rate and becme due and payable immediately if the recipient f the schlarship fund ceases t be enrlled in gd standing in a recgnized schl f nursing befre cmpleting the educatin requirements (fr recipients f the Nurse Educatr Lan), fails t teach fr the specified time in an Arkansas nursing prgram, r fails t fulfill terms f the agreement. Failure t repay the schlarship as specified may be cnsidered unprfessinal cnduct and disciplinary actin against the nursing license may be taken. What happens if I default n the service agreement? Participants wh default f their service repayment agreement will be subject t mnetary repayment f the cntracted amunt and interest. If terminatin f qualified emplyment f a service repayment participant results frm circumstances beynd the cntrl f the participant, deferral status may be apprved fr a perid up t ninety (90) days t permit the participant t btain qualified emplyment in Arkansas. In the event f death f the participant, bth the principal and interest n the lan will be due and payable immediately. What interest rate will I be charged if I d nt abide by the service agreement? The principal f the lan(s) shall be due in additin t interest at the maximum rate allwed by Arkansas law, r 5% abve the federal discunt rate, whichever is less. Payment is due and payable in full nce the ASBN determines yu are nt in cmpliance with the cntractual agreements f the prgram. The interest shall accrue frm the date each payment f funds was received by the recipient. What qualifies fr a deferral? Deferral f lan payment may be apprved prvided the participant demnstrates her r she is currently enrlled, in gd standing, in a qualified nursing prgram, and the initial eligibility requirements are still applicable. Page 4

5 The ASBN may grant a deferral if the participant is invluntarily serving n active duty in the United States armed frces. If the deferral is due t military service, interest is nt accrued during the deferral perid. If the repayment f the lan has already began thrugh a service agreement, and beynd the cntrl f the participant, terminatin f qualified emplyment ccurs. The lan may be deferred fr a perid up t ninety (90) days t permit the participant t btain qualified emplyment in Arkansas. The ASBN may review the deferral as ften as needed, but will annually review t insure cmpliance. Must I verify emplyment after graduatin and licensure? In rder t cnvert yur nursing lan int a schlarship grant, a wrk histry must be submitted n the prescribed frms n an annual basis until the entire lan bligatin is retired. What happens if I d nt pass my RN r LPN licensure examinatin? Fr recipients f the Nursing Practice Lan, wh d nt pass their RN r LPN licensure examinatin will be subject t mnetary repayment f the cntracted amunt and interest. Repayment f the principal and interest shall begin within ninety (90) days after the date the recipient ceases t be an eligible student, r immediately upn ntificatin f failure t pass the licensure examinatin whichever is later. If an individual wh des nt pass his/her RN examinatin takes and passes the LPN examinatin, repayment by service is still available. Hwever, mnetary repayments wuld apply t an individual wh already has an LPN license, receives funding frm this prgram, and des nt pass his/her RN examinatin. The recipient shall ntify the ASBN s Nursing Lan Prgram within ten (10) days f the date the recipient is ntified the recipient did nt pass the RN r LPN licensure examinatin. Payment shall be cmpleted n mre than twenty fur (24) mnths frm the date the recipient ceases t be an eligible student. The principal f the lan(s) shall be due in additin t interest at the maximum rate allwed by Arkansas law, r 5% abve the federal discunt rate, whichever is less. The interest shall accrue frm the date each payment f funds was received by the recipient. Wh d I cntact fr mre infrmatin abut this prgram? Arkansas State Bard f Nursing 1123 Suth University, Suite 800 Little Rck, AR Page 5

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