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Office of Financial Aid
University of Mississippi

Robert Noyce Teachers for a New Tomorrow Forgivable Loan Program

What are Noyce Loans?


The University of Mississippi/Robert Noyce Teachers for a New Tomorrow (UM/Noyce TNT) Forgivable Loan Program seeks to encourage talented science, technology, engineering, and mathematics (STEM) majors and professionals to become secondary mathematics and science teachers. The UM/Noyce TNT Forgivable Loan Program supports both undergraduate and graduate students who commit to teaching in any public school in Mississippi (or in a high-need school district in any other state) upon completion of their teacher education program.


Advantages of the Noyce Loan

  • The interest rate is 3%.
  • It carries no origination and guarantee fees.
  • Repayment of the loan does not begin until you graduate or drop below half-time status.
  • In cases of economic hardship, payments may be deferred, extended, or reduced.
  • The loan can be forgiven if the student graduates from The University of Mississippi and, within the six month initial grace period, is employed  in a Mississippi public school (or in a high-need school district in any other state).  Students must complete two years of services as a full-time science or mathematics teacher in any  public school in Mississippi or in a high-needs school district in any other state for each year awarded.
  • You may be allowed up to 10 years to repay the Noyce Loan.

Eligibility for the Noyce Loan


  • Eligibility:
  • Applicants must fit into one of the following categories:
    • UM Double Major in STEM and STEM Education – UM junior/senior undergraduate double majoring in a STEM field and Secondary Math Education or Secondary Science Education.
    • UM STEM Major – UM junior/senior undergraduate majoring in a STEM field (only) with the desire to obtain a master’s degree that will lead to teacher certification (i.e. MACI program).
    • Recruited STEM Graduates – STEM graduates recruited from other four-year institutions who wish to obtain teacher certification in science or mathematics may enroll in the MACI program at UM.
    • STEM Professionals – Professional holding a degree in a STEM field who are currently or have been employed in a STEM field and now seek to become a secondary education teacher. They can apply for the Noyce and enroll in the MACI program.
  • Financial Need – Financial need is not the sole consideration for this award, the Center for Mathematics and Science Education must collect this information and coordinate this scholarship with other awards. You must file a Free Application for Federal Student Aid (FAFSA) to determine need.
  • Requirements for Undergraduate Applicants – Undergraduate students must be actively pursuing a degree in science, technology, engineering or mathematics fields.  Applicants must be in the last two years of an undergraduate program and be enrolled full-time during the scholarship year(s).  Seniors requiring a fifth year or a post-baccalaureate program to complete teacher certification and who will apply the scholarship to the fifth year or post-baccalaureate program are eligible.

Requirements for Graduate Applicants – Graduate students must have a bachelor’s degree in a science, technology, engineering, or mathematics field as approved by NSF and must enroll full time in the University of Mississippi’s School of Education’s Master of Arts in Curriculum and Instruction (MACI) program and obtain a 7-12 grade teacher certification in science or mathematics. Those already certified as a K-12 teacher are not eligible.



Regulation Z Requirements


Private Loan Regulations (Title X of the Higher Education Opportunity Act)


As of February 14, 2010, both private lenders and institutions offering private loans to students must comply with a new set of regulations per the Federal Reserve Board.


Under the new laws, an institution offering private loans for postsecondary educational expenses (i.e. McKinstry Loans, Health Profession Student Loans, etc.) must first provide a disclosure about loan terms and features at the time of application and must disclose information about federal student loan programs that may offer less costly alternatives. If the initial application reaches an approval status, a second loan disclosure statement must be provided to the student at that time. If a student accepts the loan terms provided in the second disclosure statement, athird final disclosure must be provided when the loan is consummated.


An additional piece of the new private loan regulations requires an applicant to complete a “self-certification form” and return it to the institution before the loan may be approved. The “self-certification form” may be found here, then return the completed form to the institution. If you need assistance completing the form, please visit the Office of Financial Aid at Ole Miss.  


Last, an institution must provide the student with a 3 day rescission or “right-to-cancel” period after the final loan disclosure form is sent to the student. The 3 day rescission period means that once the school has certified your loan and it is ready to be disbursed, there is a mandatory 3 business day waiting period before the institution may disburse the loan funds


Below is an example of what to expect if you apply for a private loan:

  • Apply online (you will receive the Application Disclosure Statement)
  • If approved for the loan, you will be provided an Approval Disclosure Statement
  • Complete the Self-Certification Form and return to the institution
  • Finally, you will receive a Final Disclosure Statement
    (allowing you up to 3 days to cancel the loan before it is disbursed)

If you have any questions related to the new regulations, please visit our office.



How Much Can I Borrow?


Noyce Loans are up to $20,000 per academic year not to exceed the students cost of attendance as determined by the Office of Financial Aid. .


Interest Rates


The interest rate is computed at the rate of 3% per annum simple interest on the unpaid balance.


The Application Process


Submit application to the Center for Mathematics and Science Education.  Application can be downloaded at Students must also complete the Free Application for Federal Student Aid (FAFSA) online at


If your aid includes a Noyce Loan, processing will include the following steps.

  1. Submit the completed Self-Certification Form.

  2. The student may accept all or a part of the aid by accepting and confirming your Financial Aid Notification online.
  3. The student must complete Loan Entrance Counseling by completing the process on the Web site Ole Miss Online Entrance Counseling.
  4. Once the Financial Aid Award Notification has been accepted and submitted and Loan Entrance Counseling has been completed, complete the Noyce Loan Contract which is available online at under the “Check Your Award Status” icon.
  5. Submit the contract by mailing it or returning it in person to the Bursar’s Office.


Disbursements of Funds


The loan proceeds will be processed through the Office of Financial Aid. Funds will credit first to your Bursar bill and any excess funds will be mailed to your permanent address or directly deposited to your personal account.