CERTIFICATION PURSUANT TO RULE 30A-2(B) UNDER THE 1940 ACT AND SECTION 906
                            OF THE SARBANES-OXLEY ACT

I, James D. Dondero, Chief Executive Officer of Highland Floating Rate Advantage
Fund (the "Registrant"), certify that, to the best of my knowledge:

         1.     The Form N-CSR of the Registrant for the period ended August 31,
                2005 (the  "Report")  fully  complies with the  requirements  of
                Section  13(a)  or  15(d),  as  applicable,  of  the  Securities
                Exchange Act of 1934, as amended; and

         2.     The information  contained in the Report fairly presents, in all
                material  respects,  the  financial  condition  and  results  of
                operations of the Registrant.


Date:    NOVEMBER 3, 2005                        /S/ JAMES D. DONDERO
     ----------------------            -----------------------------------------
                                       James D. Dondero, Chief Executive Officer
                                       (principal executive officer)


I, M. Jason  Blackburn,  Chief  Financial  Officer  of  Highland  Floating  Rate
Advantage  Fund (the  "Registrant"), certify that, to the best of my knowledge:

         1.     The Form N-CSR of the Registrant for the period ended August 31,
                2005 (the  "Report")  fully  complies with the  requirements  of
                Section  13(a)  or  15(d),  as  applicable,  of  the  Securities
                Exchange Act of 1934, as amended; and

         2.     The information  contained in the Report fairly presents, in all
                material  respects,  the  financial  condition  and  results  of
                operations of the Registrant.


Date:    NOVEMBER 3, 2005                     /S/ M. JASON BLACKBURN
     ----------------------          -------------------------------------------
                                     M. Jason Blackburn, Chief Financial Officer
                                     (principal financial officer)