Nursing student loan program funding

I am sure that I do not need to tell you that there is a nursing shortage. As stated by the U.S. Bureau
of Labor Statistics, in the November 2007 Monthly Labor Review, the latest projections are more than
one million new and replacement nurses will be needed by 2016.
One of the main causes of the shortage is the lack of nursing educators. According to the National
League for Nursing, one in five nursing faculty will retire in the next five years. The mean age of nursing
faculty is 57 years of age.
In 2006, 1488 qualified applicants were denied admission to Arkansas nursing programs.
In 2007, 1194 qualified applicants were denied admission to Arkansas nursing programs.
According to the Southern Regional Education Board, Arkansas has projected 1115 annual nursing vacancies with no other
professional group in higher demand than nursing.
The Arkansas Legislature has recently taken a giant step toward helping alleviate this problem in Arkansas. Reps. Pennaitz,
Shelby, Adcock, J. Roebuck, Hall, Hawkins, Gaskill, Cooper, Ragland, and Wells and Sens. Steele, Trusty, Laverty, Baker, and
Horn recently sponsored House Bill 1022, an act to authorize additional funding for the nursing student loan program and to
promote teaching in nursing education programs
Gov. Beebe signed the bill on Feb. 3, 2009, and it is now law
as Act 9.
The Nursing Student Loan Revolving Fund was created in
the 1980s to address the nursing needs of Arkansas. The fund
was re-established by Act 84 of 2003. However, less than 100
Arkansans were assisted to go to nursing school with the limited
funds available.
Act 9 repeals the current statute to allow the Arkansas
State Board of Nursing to give nursing loans not only to
nursing students, but to individuals who will agree to teach
nursing in Arkansas. If the loan recipient completes his or
her nursing education and qualification as a registered nurse,
licensed practical nurse, or nursing educator, the loans shall be
“canceled” if the nurse or nurse educator practices or teaches in
Arkansas for a period of time to be specified in rules. Also, Act
9 increases the amount of loans that may be made to any one
studem to $20,000.
Rules consistent with Arkansas Code § 6-81-1401 – § 6-81-
1412 for receiving funds from the Nursing Student Loan
Program Funding are being developed. The Board of Nursing
will make the information available when details are finalized.
Be sure to thank your representatives for supporting nurses in
Arkansas and for assisting us in helping to alleviate the nursing
shortage.