Eligibility

(1) To receive a graduate nursing loan a student must meet the following criteria: (a) Be a citizen of the United States; and (b) Be a resident of Tennessee, as defined by regulations promulgated by the Tennes- see Board of Regents for the state university and community college system, under the authority of T.C.A. § 49-8-104 where applicable; and (c) Hold an unencumbered Tennessee Registered Nurse License; and (d) Be enrolled either part-time or full-time in an eligible academic program at an eligible postsecondary institution; and (e) Provide written evidence of the student’s intention to become employed full-time or part-time in a Tennessee nursing education program in a teaching or administrative capacity; and (f) Maintain satisfactory academic progress; and (g) Not owe a refund or repayment on any grant, and not be in default on any loan re- ceived at any postsecondary institution, under the provision of Title IV of the Higher Education Act of 1965, as amended, or a Tennessee student financial aid program; and (h) Sign a promissory note before receiving any funds; and (i) Agree to inform TSAC in writing when any change occurs in name, address, or school enrollment, and provide supporting documentation. After completing the program, the recipient shall continue to notify TSAC of any change in name or address, and when he or she has obtained a teaching or administrative position, changed teaching or admin- istrative positions, or terminated teaching or administrative positions. (2) Eligibility is limited to four (4) years of full-time enrollment, or the equivalent part-time enroll- ment, with one (1) year of full-time enrollment equaling two (2) years of part-time enrollment. (3) In certain circumstances, a student may receive more than one graduate nursing loan. A bor- rower who received a (first) graduate nursing loan while earning a master’s degree may ap- ply for a (second) graduate nursing loan in a post-master’s program. If the application for the second loan is successful, repayment of the first loan is deferred until the recipient enters re- payment on the second loan, at which time repayment of both loans is expected. A borrower who is employed while receiving a second graduate nursing loan may apply that employment towards cancellation of the first graduate nursing loan provided that the cancellation require- ments described elsewhere in these rules are met. GRADUATE NURSING LOAN-SCHOLARSHIP PROGRAM CHAPTER 1640-01-03 (4) Eligibility is subject to the availability of funds.