Health Professions Student Loans, Including Primary Care Loans and Loans for Disadvantaged Students

To increase educational opportunities by providing long-term, low-interest loans to students in need of financial assistance and in pursuit of a course of study in an approved health discipline.

To increase educational opportunities by providing long-term, low-interest loans to students in need of financial assistance and in pursuit of a course of study in an approved health discipline.

Any accredited public or other nonprofit private school of medicine, dentistry, osteopathic medicine, optometry, podiatry, pharmacy, or veterinary medicine which provides a course of study leading to a degree of Doctor of Medicine or Doctor of Osteopathic Medicine for PCL and LDS borrowers, Doctor of Dentistry (or an equivalent degree), Doctor of Optometry (or an equivalent degree), Doctor of Podiatric Medicine (or an equivalent degree), Bachelor of Science in Pharmacy (or an equivalent degree), Doctor of Pharmacy (or an equivalent degree), or Doctor of Veterinary Medicine (or an equivalent degree) for HPSL and LDS borrowers. Additionally, the school must be located in the United States, the District of Columbia, the Commonwealth of Puerto Rico, the Northern Mariana Islands, the U.S. Virgin Islands, Guam, American Samoa, the Republic of Palau, the Republic of the Marshall Islands, or the Federated States of Micronesia. Federally Recognized Indian Tribal Government and Native American Organizations may apply if they are otherwise eligible.

Specialized group (e.g. health professionals, students, veterans), Student/Trainee, U.S. Citizen Student applicants must display financial need and be enrolled or accepted for enrollment in a health professions school to pursue a full-time course of study leading to a degree as specified above. Students must also be citizens, nationals or lawful permanent residents of the United States, the District of Columbia, the Commonwealths of Puerto Rico, the Northern Mariana Islands, the U.S. Virgin Islands, Guam, American Samoa, the Republic of Palau, the Republic of the Marshall Islands, or the Federated States of Micronesia.

Funds on deposit can only be used for loans to eligible students pursuing a full-time course of study. The maximum amount a student may borrow is the cost of attendance (including tuition, other reasonable educational expenses and reasonable living expenses). Third and fourth year medical and osteopathic medicine students may be eligible for additional funding to repay earlier higher-interest educational loans. The interest rate is five percent. To be eligible for a Primary Care Loan (PCL), students of allopathic medicine and osteopathic medicine must meet financial need criteria and agree to enter and complete a residency training program in primary health care not later than four years after the date on which the student graduates from such school. The PCL borrower must also practice primary health care for 10 years (including the years spent in residency training) or through the date in which the loan is repaid in full, whichever occurs first. To be eligible for the Loans for Disadvantaged Students (LDS) program, students must meet the Health Professions Student Loans (HPSL) criteria and also be from an economically or environmentally disadvantaged background as defined by the Secretary.

Funds on deposit can only be used for loans to eligible students pursuing a full-time course of study. The maximum amount a student may borrow is the cost of attendance (including tuition, other reasonable educational expenses and reasonable living expenses). Third and fourth year medical and osteopathic medicine students may be eligible for additional funding to repay earlier higher-interest educational loans. The interest rate is five percent. To be eligible for a Primary Care Loan (PCL), students of allopathic medicine and osteopathic medicine must meet financial need criteria and agree to enter and complete a residency training program in primary health care not later than four years after the date on which the student graduates from such school. The PCL borrower must also practice primary health care for 10 years (including the years spent in residency training) or through the date in which the loan is repaid in full, whichever occurs first. To be eligible for the Loans for Disadvantaged Students (LDS) program, students must meet the Health Professions Student Loans (HPSL) criteria and also be from an economically or environmentally disadvantaged background as defined by the Secretary.

The time required by a student to complete the necessary course of study leads to a degree and is subject to the availability of funds.

Applications will be reviewed for completeness, eligibility, and accuracy, and to determine if applicant schools meet minimum program requirements.

Notification is made in writing (electronic) by a Notice of Award. When Federal Capital Contribution funds are available for re-distribution, a Notice of Award is sent to the School's Contact Person notifying the school of the amount of federal funds allocated for loans within the program and discipline prior to the beginning of the academic year in which the award is to be utilized. Students are notified by the school's financial aid office of approval or disapproval of loans at times determined by schools.

Approximately 120 - 180 days after receipt of applications.

Applications are only required for new schools. Annual Operating Reports are required for renewals.