The Health Professions Student Loan program provides low-interest loans to full-time, financially needy students. Students must be pursuing a degree in the dentistry or pharmacy.
These loans come from Title VII of the Higher Education Act and are not private loans. The program is run by the Health Resources and Services Administration, Bureau of Health Professions.
Eligibility
To be considered for Health Professions Loan eligibility, student must:
- Complete a valid FAFSA by the March 1 priority deadline.
- Be a U.S. citizen, national, or a lawful permanent resident of the United States or the District of Columbia, the commonwealths of Puerto Rico or the Marianas Islands, Virgin Islands, Guam, American Samoa, Trust Territory of the Pacific Islands, Republic of Palau, Republic of the Marshall Islands, and the Federated State of Micronesia.
- Meet the income eligibility criteria as determined by HRSA, BHP.
How to Apply
UMB does not automatically award Health Professions Loans (HPL). UMB pre-screens potential recipients, with priority consideration given to students who have received an Health Professions Loan in a previous academic year. To be reviewed for HPL eligibility, students must complete the following steps:
- Complete the FAFSA by the March 1 priority deadline (UMB School Code: 002104).
- Complete and submit the Health Professions Loan Request Form linked through SURFS (students who maybe eligible will have the requirement automatically added to their account). The form requires that students attach supporting tax documents, which include:
- Student's W2 statement(s)
- Parent W2 statement(s)
- Student IRS Tax Return Transcript
- Parent IRS Tax Return Transcript
- IRS Tax Forms can be requested here: https://www.irs.gov/individuals/get-transcript.
- If the student is determined eligible to receive the HPL, they must accept the loan offer on SURFS.
- Complete the Master Promissory Note (MPN) and Truth Lending Forms on https://borrower.ecsi.net.
- Students will receive an email from ECSI once the counselor has added the loan to their aid offer on SURFS. The email will direct students to log in and complete a series of Truth in Lending Forms and also a Master Promissory Note for the Health Professions Loans.
Loan Terms
The Health Professions Loan is a subsidized loan, meaning that it will not accrue interest until after graduation.
Upon graduation, the loan has a 12-month grace period during which the loan will not be accruing interest and the student is not required to make any payments.
| Program | Interest Rate | Amount per academic year | Repayment Plan |
|---|---|---|---|
| Dentistry (DDS) | 5.0% | $35,000 | 10 years |
| Pharmacy (PharmD) | 5.0% | $7,500 | 10 years |