Title:Reducing nursing student debt to unlock career possibilities

Seeking to create more affordable pathways to the nursing profession, the Bedford Falls Foundation in 2024 made a $1 million gift commitment across four years to support loan-relieving scholarships for Georgetown University’s undergraduate nursing students—the largest single gift to undergraduate scholarships in the nursing school’s history.

The foundation—established by the Carlyle Group co-founder and co-chairman William “Bill” E. Conway, Jr., and his late wife, Joanne Barkett Conway—said the gift was part of its larger effort to increase the supply of registered nurses amid worsening shortages.  

In Fall 2024, Georgetown University’s Berkley School of Nursing welcomed its inaugural cohort of 45 Conway Scholars. The Conway Scholarship enables eligible Bachelor of Science in Nursing (BSN) students who qualify for and would otherwise need a federally subsidized loan to instead graduate from nursing school with little or no student loan debt. More than 60 nursing students have now received this life-changing financial support, enabling them to focus more fully on their education and reducing the chances that student loan debt will influence their career choices.

Donor-funded scholarships are instrumental to the Berkley School of Nursing’s mission and workforce contributions—and a critical tool as Georgetown seeks to build a thriving student community working toward a healthier future.

Shrinking financial barriers to a nursing education

Despite the pressing need for more nursing professionals, many obstacles still stand between promising students and a nursing career. Cost remains a major deterrent. Educating nurses with a range of perspectives and experiences is essential to the Berkley School of Nursing’s ambitions. Donor-funded scholarships play a vital role in attracting that talent and ensuring that no motivated student sacrifices an educational opportunity because of their inability to pay.

‘Part of solving the critical nursing shortage is keeping nurses in nursing’

Growing the nursing workforce is especially critical as the population ages and chronic health conditions become increasingly prevalent. Currently, the nation’s supply of nurses is not keeping pace—the Bureau of Labor Statistics projects 194,500 openings for registered nurses (RNs) each year through 2033, with an annual vacancy rate of 9.9%, and an RN turnover rate of 18.4%.

Scholarships that relieve students’ debt burdens are especially powerful, as they not only increase access to educational opportunities but also increase the chance that graduates can thrive in their future careers.

“A nurse who graduates with debt may feel they have to choose the highest-paying position,” said Bedford Foundation Co-Founder Bill Conway. “By partnering with Georgetown to provide scholarships that will allow students to graduate without federal subsidized loans, it is my hope that the Conway Scholars will be free instead to take the position that best fits their professional goals. Part of solving the critical nursing shortage is keeping nurses in nursing, and having a job that they love is part of that.”

American Academy of Nursing recognizes scholarships’ impact: ‘A continued lifeline’

Highlighting how the Bedford Foundation’s philanthropy is advancing the nursing profession, the American Academy of Nursing this summer announced that it would recognize Bill Conway and his late wife, Joanne, as honorary fellows of the American Academy of Nursing (AAN). “Supporting nurses through philanthropy is a continued lifeline that secures improved health outcomes for countless individuals impacted by nursing’s care,” Academy President Linda D. Scott, PhD, RN, NEA-BC, FADLN, FNAP, FAAN, said.

The AAN also conferred the honorific title to Luci Baines Johnson (H’18), an active contributor to Georgetown, who along with her husband, Ian Turpin, established the Johnson/Turpin Fellows Endowed Fund at Georgetown in 2020 with a $1 million gift. The fund provides scholarships for graduate students who have a demonstrated interest in serving adult and geriatric populations, along with other underserved communities, and has supported 10 students to date.