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Student Loans for Health Professions - HPSL
Health professions student loans are low interest government loans available to students pursuing specific degrees in the health profession. These loans are need-based, and come with service requirements and loan limits.
Who is Eligible for a Health Professions Student Loan?
In general Health Professions Student Loans are available to U.S. citizens or permanent residents with demonstrated financial need pursuing a health professions degree at a participating school.
Student Loans for Health Professions Students
The Health Resources and Services Administration (HRSA) of the U.S. Department of Health and Human Services (HHS) offers student loans to health professions students as a means of encouraging health care in underserved communities. The four student loan programs for health professions students include:
- Health Professions Student Loan (HPSL)
- Nursing Student Loans/Nursing School Loans (NSL)
- HRSA Primary Care Loans (PCL)
- Loans for Disadvantaged Students (LDS)
Health Professions Student Loans (HPSL)
Part- or full-time students pursuing one of the following degrees are eligible for a health professions student loan:
- Doctorate in dentistry
- Doctorate in optometry
- Doctorate in veterinary medicine
- Doctorate in podiatric medicine
- Doctorate (or baccalaureate) in pharmacy
Nursing Student Loans/Nursing School Loans
Nursing Student Loans are available to students pursuing the following nursing degrees full-time:
- Associate's
- Bachelor's
- Master's
HRSA Primary Care Loans (PCL)
Primary Care Loans are available to full-time students pursuing one of these two doctoral degrees:
- Allopathic medicine
- Osteopathic medicine
PCL borrowers must (1) complete residency training in primary care (e.g., family medicine, pediatrics, geriatrics, public health, preventive medicine and sports medicine) within four years of graduation and work as a primary care physician for the life of the loan or for 10 years (including the residency), whichever is less.
Loans for Disadvantaged Students
Full-time students from a disadvantaged background who are pursuing the following degrees are eligible for an LDS loan:
- Doctorate in allopathic medicine
- Doctorate in osteopathic medicine
- Doctorate in dentistry
- Doctorate in optometry
- Doctorate in veterinary medicine
- Doctorate in podiatric medicine
- Doctorate (or baccalaureate) in pharmacy
What Makes HRSA Loans Different
Health Professions Student Loans offered by the Health Resources and Services Administration (HRSA) are different from other loans for a number of reasons. One major difference is that unlike federal loans which are offered by the U.S. Department of Education (ED), these loans are offered by the HRSA of the U.S. Department of Health and Human Services (HHS). In addition, HRSA loans have certain requirements you must meet.
HRSA Service Requirement
The borrower may be required to work in an underserved area or practice in a particular field until the loan is paid in full.
For example, borrowers of PCL loans made on or after March 23, 2010 must practice in primary care for 10 years (including any residency training in primary health care) or until the loan is paid in full, whichever comes first. The 10-year cap does not apply to PCL loans borrowed before March 23, 2010.
HRSA Need-Based Requirement
Eligibility for these loans is based on demonstrated financial need. The determination of financial need may include consideration of parental financial information, even if the student is considered independent according to the criteria set forth on the Free Application for Federal Student Aid (FAFSA®).
HRSA Citizenship Requirement
Borrowers must be U.S. citizens, nationals or permanent residents. Male students must also have registered with the Selective Service System.
HRSA Loan Limits
Loan amounts are determined by participating schools. Loan limits for the HPSL, LDS and PCL are generally capped at the school’s cost of attendance, but may exceed the cost of attendance during the third and fourth years of medical school for the purpose of paying off the balances of loans with less favorable terms from other sources.
The annual loan limit for NSL is $3,300, except during the last two years of the nursing program when the annual loan limit increases to $5,200, and the cumulative loan limit is $17,000.
Interest Rate on HRSA Loan
The current interest rate is 5%. The interest rate increases to 7%* if the borrower is noncompliant with the service requirements. Interest does not accrue during the in-school and grace periods, but does accrue during forbearances and renegotiated repayment schedules.
*Previously, the penalty interest rate was 18%.
HRSA Fees
Schools may charge an insurance premium of up to 0.6 percent of the amount disbursed to cover the institutional share of the cost of death and disability discharges. There is a late payment fee of up to 6 percent of the amount of a late payment. A payment is considered to be delinquent if it is not made within 60 days of the due date.
HRSA Grace Periods
HPSL, PCL and LDS have a 12-month grace period after the student graduates or drops below full-time enrollment status. The grace period for NSL is 9 months. On the other hand, the grace period for federal student loans and most private student loans is typically 6 months.
HRSA Repayment Terms
The repayment term for HPSL, PCL and LDS is 10 to 25 years, at the discretion of the school. The repayment term for NSL is 10 years.
HRSA Minimum Monthly Payment
The minimum monthly payment is $40. Depending on your loan amount, this may result in a shorter repayment term than the one allowed by your school or the NSL 10-year term.
HRSA Deferments
Payments may be deferred for advanced professional training including internships and residencies (unlimited for HPSL or LDS, 10 years for NSL), active duty service in the U.S. Armed Forces, National Oceanic and Atmospheric Administration (NOAA) Corps and U.S. Public Health Service Commissioned Corps (3 years), Peace Corps volunteer (3 years), fellowship training programs (2 years for HPSL and LDS) and leave of absence from the health professions school for related educational activity such as a joint-degree program (2 years for HPSL and LDS). Interest does not accrue during deferment periods. Borrowers must apply for deferments in one-year increments.
HRSA Forbearance
Forbearances are available for extraordinary circumstances that have a short-term impact on the borrower’s ability to repay the debt, such as unemployment, illness and natural disasters. Interest continues to accrue during forbearances and the borrower is required to pay at least the new interest that accrues. Payments toward the principal balance of the loan are suspended for the duration of the forbearance.
HRSA Renegotiation
Renegotiation provides borrowers who are encountering financial difficulty with a different repayment schedule. The obligation to make payments toward principal and interest is not suspended during a renegotiated repayment schedule.
HRSA Discharges
Loans are canceled if the borrower dies or becomes totally and permanently disabled.
HRSA Prepayment Penalties
None. Borrowers may prepay the loan in-full or in-part at any time.
HRSA Consolidation Options
PCL may not be included in a federal consolidation loan, due to the service requirements. HPSL, NSL and LDS may be included in a federal consolidation loan at the option of the lender.
How to Apply for a HRSA Student Loan
To apply for a HRSA student loan, you should do the following:
- Complete the FAFSA - Schools require your parents' financial information (barring death) for you to quality for an HPSL, so be sure to include that no matter your dependency status.
- Contact your school's financial aid office - While many schools use the FAFSA to determine eligibility, you may have to fill out additional forms depending on your school's process.
- Read your financial aid award letter - Your financial aid award letter will detail the financial aid you're eligible for, including any Health Professions Student Loans (if applicable).
HRSA Loan Repayment
Health professionals may be able to be able to repay a portion of their HRSA loans with one of the following HRSA Loan repayment programs:
National Health Service Corps (NHSC) Loan Repayment Program
If you are a licensed primary care clinician and willing to work in a designated Health Professional Shortage Area (HPSA) for at least two years, you could receive money toward your loan repayment.
NHSC Substance Use Disorder Workforce Loan Repayment Program
This program was launched to help combat the country’s opioid crisis. For health professionals willing to work in underserved areas, loan repayment awards are available.
NHSC Rural Community Loan Repayment Program
The Federal Office of Rural Health Policy (FORHP) finances this program in coordination with NHSC to help provide prevention, treatment, and recovery of opioid use in rural communities. If you are a medical, mental or behavioral health care worker you could be eligible.
NHSC Students to Service Loan Repayment Program
Students in their last year of medical or dental school are encouraged to apply to this program which seeks a three (3) year commitment of service in a Health Professional Shortage Area (HPSA).
Faculty Loan Repayment Program (FLRP)
For individuals interested in becoming a faculty member at a health professions school, there could be up to $40,000 in loan repayment assistance available.
Federal Direct Stafford and PLUS Loans for Health Professions
Under the federal student aid programs, borrowers enrolled in health profession programs are eligible for loans under the federal Direct Loan program. The types of loans you are eligible for include:
- Direct Stafford Loans
- Direct Subsidized Stafford Loans for students enrolled in undergraduate programs.
- Direct Unsubsidized Stafford Loans for students enrolled in either undergraduate or graduate programs.
- Direct PLUS Loans
- An option for parents who want to borrow a loan to help pay for their dependent child’s undergraduate program.
- A Grad PLUS loan option for students enrolled in graduate or professional school.
Increased Loan Limits for Health Profession Students
Health profession students may be eligible for higher Direct Unsubsidized Loan limits at certain eligible institutions. Students eligible for these loan limits may borrow up to $40,500 per year in Direct Unsubsidized Loans. However, it’s best to discuss your additional loan eligibility for your school.
Private Student Loans for Health Professions
Students pursuing health professions degrees may need private student loans to cover the cost of earning them. Aspiring health professional students may benefit from the competitive interest rates and flexible repayment plans offered by private lenders.
Student Loans for Medical School
Most people will have to take out loans to pay for medical school, but there are several ways that prospective and current students can help minimize their debt and repay smarter. There are a plethora of scholarships and fellowships available to medical school students, repayment plans doctors can exercise, and more. And if you’re looking for more tips, check out our article on How to Pay for Medical School.
Best Private Student Loans for Medical School
- Variable Rates: 1.13% APR - 11.23% APR. Fixed Rates: 3.50% APR - 12.60% APR. Lowest rates shown include the auto debit discount.1
- Choose from multiple repayment options, including no payments while in school1
- No origination fee or prepayment penalty2
- Cover up to 100% of your school-certified college expenses like tuition, fees, books, housing, meals, travel, and even a laptop for the entire school year3
- The only undergraduate student loan that offers 4 months of Chegg® study help 4
This loan is for undergraduate students at participating degree-granting schools. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend a participating school in the U.S., apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident) and provide an unexpired government-issued photo ID to verify their identity. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply.
1Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. Payments may be required during the grace/separation period depending on the repayment option selected. Variable rates may increase over the life of the loan. Advertised variable rates reflect the starting range of rates and may vary outside of that range over the life of the loan. Advertised APRs assume a $10,000 loan to a borrower who attends school for 4 years and has no prior Sallie Mae loans. The borrower or cosigner must enroll in auto debit through Sallie Mae to receive a 0.25 percentage point interest rate reduction benefit. This benefit applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment, if available for the loan.
2Although we do not charge a penalty or fee if you prepay your loan, any prepayment will be applied as outlined in your promissory note-first to Unpaid Fees and costs, then to Unpaid Interest, and then to Current Principal.
3Loan amount cannot exceed the cost of attendance less financial aid received as certified by the school. Sallie Mae reserves the right to approve a lower loan amount than the school-certified amount. Miscellaneous personal expenses (such as a laptop) may be included in the cost of attendance for students enrolled at least half time.
4This promotional benefit is provided at no cost to borrowers with undergraduate or parent loans with a first disbursement between May 1, 2021 and April 30, 2022. Borrowers are not eligible to activate the benefit until July 1, 2021. Borrowers who reside in, attend school in, or borrow for a student attending school in Maine are not eligible for this benefit. Chegg Study® offers expert Q&A where students can submit up to 20 questions per month. No cash value. Terms and Conditions apply. Please visit http://www.chegg.com/legal/smtermsandconditions for complete details. This offer expires one year after issuance.
Information advertised valid as of 12/27/2021
SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE. CHECK SALLIEMAE.COM FOR THE MOST UP-TO-DATE PRODUCT INFORMATION.
Sallie Mae, the Sallie Mae logo, and other Sallie Mae names and logos are service marks or registered service marks of Sallie Mae Bank. All other names and logos used are the trademarks or service marks of their respective owners.
Sallie Mae loans are made by Sallie Mae Bank.
Edvisors is not the creditor for these loans and is compensated by Sallie Mae for the referral of Sallie Mae loan customers.
© 2021 Sallie Mae Bank. All rights reserved. SLM Corporation and its subsidiaries, including Sallie Mae Bank are not sponsored by or agencies of the United States of America.
Student Loans for Dental School
Many private lenders offer student loans for dental school that can help cover the costs of tuition, books, fees, etc. Dental students may also be interested in dental residency and relocation loans, to help with costs associated with residency and relocation after dental school. And if you’re looking for more tips, check out our article on Dental Residency and Relocation Loans.
Compare Featured Lenders
- Variable Rates: 1.13% APR - 11.23% APR. Fixed Rates: 3.50% APR - 12.60% APR. Lowest rates shown include the auto debit discount.1
- Choose from multiple repayment options, including no payments while in school1
- No origination fee or prepayment penalty2
- Cover up to 100% of your school-certified college expenses like tuition, fees, books, housing, meals, travel, and even a laptop for the entire school year3
- The only undergraduate student loan that offers 4 months of Chegg® study help 4
This loan is for undergraduate students at participating degree-granting schools. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend a participating school in the U.S., apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident) and provide an unexpired government-issued photo ID to verify their identity. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply.
1Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. Payments may be required during the grace/separation period depending on the repayment option selected. Variable rates may increase over the life of the loan. Advertised variable rates reflect the starting range of rates and may vary outside of that range over the life of the loan. Advertised APRs assume a $10,000 loan to a borrower who attends school for 4 years and has no prior Sallie Mae loans. The borrower or cosigner must enroll in auto debit through Sallie Mae to receive a 0.25 percentage point interest rate reduction benefit. This benefit applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment, if available for the loan.
2Although we do not charge a penalty or fee if you prepay your loan, any prepayment will be applied as outlined in your promissory note-first to Unpaid Fees and costs, then to Unpaid Interest, and then to Current Principal.
3Loan amount cannot exceed the cost of attendance less financial aid received as certified by the school. Sallie Mae reserves the right to approve a lower loan amount than the school-certified amount. Miscellaneous personal expenses (such as a laptop) may be included in the cost of attendance for students enrolled at least half time.
4This promotional benefit is provided at no cost to borrowers with undergraduate or parent loans with a first disbursement between May 1, 2021 and April 30, 2022. Borrowers are not eligible to activate the benefit until July 1, 2021. Borrowers who reside in, attend school in, or borrow for a student attending school in Maine are not eligible for this benefit. Chegg Study® offers expert Q&A where students can submit up to 20 questions per month. No cash value. Terms and Conditions apply. Please visit http://www.chegg.com/legal/smtermsandconditions for complete details. This offer expires one year after issuance.
Information advertised valid as of 12/27/2021
SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE. CHECK SALLIEMAE.COM FOR THE MOST UP-TO-DATE PRODUCT INFORMATION.
Sallie Mae, the Sallie Mae logo, and other Sallie Mae names and logos are service marks or registered service marks of Sallie Mae Bank. All other names and logos used are the trademarks or service marks of their respective owners.
Sallie Mae loans are made by Sallie Mae Bank.
Edvisors is not the creditor for these loans and is compensated by Sallie Mae for the referral of Sallie Mae loan customers.
© 2021 Sallie Mae Bank. All rights reserved. SLM Corporation and its subsidiaries, including Sallie Mae Bank are not sponsored by or agencies of the United States of America.
- Competitive fixed and variable APRs starting at 0.94%1
- Multiple repayment options including: full principal and interest, interest-only, deferred, and flat payment
- Flexible payment terms ranging from 5, 8, 10, and 15 years2
- Coverage up to 100% of your school-certified cost of attendance ($1,000 minimum)3
- No origination, application and processing fees, no fees for early repayment
- Apply online in 3 minutes and get an instant credit decision
College Ave Student Loans products are made available through either Firstrust Bank, member FDIC or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.
1Rates shown are for the College Ave Undergraduate Loan product and include autopay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. Variable rates may increase after consummation.
2This informational repayment example uses typical loan terms for a freshman borrower who selects the Deferred Repayment Option with a 10-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 8.35% fixed Annual Percentage Rate (“APR”): 120 monthly payments of $179.18 while in the repayment period, for a total amount of payments of $21,501.54. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.
3As certified by your school and less any other financial aid you might receive. Minimum $1,000.
Information advertised valid as of 11/24/2021. Variable interest rates may increase after consummation. Approved interest rate will depend on the creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of full principal and interest payments with the shortest available loan term.
Student Loans for Nursing School
With the increased need for nurses, the interest in student loans for nursing school has followed suit. There are several programs geared to help aspiring nurses join the frontlines and do so without taking on too much debt. There are also plenty of private student loan lenders who are willing to fill those funding gaps for these healthcare workers. And if you’re looking for more tips, check out our article on How to Pay for Nursing School.
Compare Featured Lenders
- Variable Rates: 1.13% APR - 11.23% APR. Fixed Rates: 3.50% APR - 12.60% APR. Lowest rates shown include the auto debit discount.1
- Choose from multiple repayment options, including no payments while in school1
- No origination fee or prepayment penalty2
- Cover up to 100% of your school-certified college expenses like tuition, fees, books, housing, meals, travel, and even a laptop for the entire school year3
- The only undergraduate student loan that offers 4 months of Chegg® study help 4
This loan is for undergraduate students at participating degree-granting schools. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend a participating school in the U.S., apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident) and provide an unexpired government-issued photo ID to verify their identity. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply.
1Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. Payments may be required during the grace/separation period depending on the repayment option selected. Variable rates may increase over the life of the loan. Advertised variable rates reflect the starting range of rates and may vary outside of that range over the life of the loan. Advertised APRs assume a $10,000 loan to a borrower who attends school for 4 years and has no prior Sallie Mae loans. The borrower or cosigner must enroll in auto debit through Sallie Mae to receive a 0.25 percentage point interest rate reduction benefit. This benefit applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment, if available for the loan.
2Although we do not charge a penalty or fee if you prepay your loan, any prepayment will be applied as outlined in your promissory note-first to Unpaid Fees and costs, then to Unpaid Interest, and then to Current Principal.
3Loan amount cannot exceed the cost of attendance less financial aid received as certified by the school. Sallie Mae reserves the right to approve a lower loan amount than the school-certified amount. Miscellaneous personal expenses (such as a laptop) may be included in the cost of attendance for students enrolled at least half time.
4This promotional benefit is provided at no cost to borrowers with undergraduate or parent loans with a first disbursement between May 1, 2021 and April 30, 2022. Borrowers are not eligible to activate the benefit until July 1, 2021. Borrowers who reside in, attend school in, or borrow for a student attending school in Maine are not eligible for this benefit. Chegg Study® offers expert Q&A where students can submit up to 20 questions per month. No cash value. Terms and Conditions apply. Please visit http://www.chegg.com/legal/smtermsandconditions for complete details. This offer expires one year after issuance.
Information advertised valid as of 12/27/2021
SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE. CHECK SALLIEMAE.COM FOR THE MOST UP-TO-DATE PRODUCT INFORMATION.
Sallie Mae, the Sallie Mae logo, and other Sallie Mae names and logos are service marks or registered service marks of Sallie Mae Bank. All other names and logos used are the trademarks or service marks of their respective owners.
Sallie Mae loans are made by Sallie Mae Bank.
Edvisors is not the creditor for these loans and is compensated by Sallie Mae for the referral of Sallie Mae loan customers.
© 2021 Sallie Mae Bank. All rights reserved. SLM Corporation and its subsidiaries, including Sallie Mae Bank are not sponsored by or agencies of the United States of America.
- Competitive fixed and variable APRs starting at 0.94%1
- Multiple repayment options including: full principal and interest, interest-only, deferred, and flat payment
- Flexible payment terms ranging from 5, 8, 10, and 15 years2
- Coverage up to 100% of your school-certified cost of attendance ($1,000 minimum)3
- No origination, application and processing fees, no fees for early repayment
- Apply online in 3 minutes and get an instant credit decision
College Ave Student Loans products are made available through either Firstrust Bank, member FDIC or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.
1Rates shown are for the College Ave Undergraduate Loan product and include autopay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. Variable rates may increase after consummation.
2This informational repayment example uses typical loan terms for a freshman borrower who selects the Deferred Repayment Option with a 10-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 8.35% fixed Annual Percentage Rate (“APR”): 120 monthly payments of $179.18 while in the repayment period, for a total amount of payments of $21,501.54. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.
3As certified by your school and less any other financial aid you might receive. Minimum $1,000.
Information advertised valid as of 11/24/2021. Variable interest rates may increase after consummation. Approved interest rate will depend on the creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of full principal and interest payments with the shortest available loan term.
Keep Reading
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Medical Residency and Relocation Loans
Dental Residency and Relocation Loans
Financial Aid for Graduate School
How Does Student Loan Interest Work
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