Subsidized Loans

Health Professions Student Loan (HPSL)

Eligibility is based on current need and prior student loan debt.  Regardless of the student's age or marital status, complete parental data is required on both the FAFSA and the CSS Profile. The maximum annual loan available is defined as cost of attendance; however, available funds are usually not sufficient to allow maximum awards. Interest is fixed at 5% during the repayment period, which begins one year after the borrower ceases to be enrolled at least half-time.

Unsubsidized Loans

Federal Direct Unsubsidized Stafford Loans (FDUSL)

The Federal Direct Unsubsidized Stafford Loan is available for students to borrow up to $40,500* per year. During school and periods of deferment, principal is deferred but interest accrues from the date of disbursement.

*for Health Professions students

Federal Direct Grad PLUS Loan

The Federal Direct Grad PLUS loan is available to graduate and professional students who have borrowed the maximum unsubsidized loan amounts but still have educational costs that are not covered by other financial aid.  In addition to the FAFSA, this program requires a separate application and approval is based upon a credit history review. The interest rate is fixed and there is an origination fee on the amount borrowed.  Interest starts to accrue on disbursement, and repayment begins six months after a student ceases to be enrolled at least half-time.

Summary: Provision of Education Loans Programs

HPSL - Health Professions Student Loan
FDUSL - Federal Direct Unsubsidized Stafford Loan

		HPSL
Annual Maximum		Cost of Attendance
Aggregate Maximum		None
Interest Rate		5%
Eligibility Evaluation		FAFSA and PROFILE with parental data
In-School Repayment		None
Origination Fee		None
Insurance Premium		None
Grace Period		1 year
Minimum Monthly Payment		$40
Standard Years to Repay		10 yrs

	FDUSL	Grad PLUS loan
Annual Maximum	$40,500 ***	Cost of Attendance
Aggregate Maximum	Defined by U.S. Dept. of Education*	None
Interest Rate	6.54%**	7.54%
Eligibility Evaluation	FAFSA (no parental data required)	FAFSA (no parental data required)*requires credit check
In-School Repayment	Interest, OR may capitalize	Interest, OR may capitalize
Origination Fee	1.057%	4.228%
Grace Period	6 months	6 months
Minimum Monthly Payment	$50	$50
Standard Years to Repay	10 yrs (can do income-driven plan)	10 yrs (can do income-driven plan)