Health Profession Loan Facts

Health Professions Student Loans Program Facts (HPSL,LDS,PCL)

This fact sheet summarizes the regulations governing the repayment of loan funds disbursed to you under the Health Professions Student Loan, Loans for Disadvantaged Students, and Primary Care Loan Programs.

ACCELERATED PAYMENTS

You may pay future installments without penalty; however, these accelerated payments will not apply to future installments unless you do the following: 1) attach a written request to your payment; 2) send an amount sufficient to cover all amounts due plus the complete amount for future installments you want to pay.

NOTE: Late charges and collection fees that become due might preclude accelerated payments from covering the installments you intend to pay. Payments in excess of the amount due that do not cover complete future installments will be applied to the loan principal balance, thus reducing any future interest that will accrue.

DEFERMENT OF PAYMENTS

You may request to defer the repayment of your loan(s) and to interrupt your repayment period. To apply for a deferment of payments you must complete a deferment request form, and submit this form to the school where you received the loan(s) or to its billing agent, Campus Partners. You should complete and mail this form immediately upon receipt of the first bill after you are eligible to request deferment of payments. If you are unable to make your loan payments and if you are not eligible for any of the following deferments, you should contact the school where you received the loan(s). You are eligible to apply for deferment of payments if you are:

on active duty as a member of a uniformed service of the United States;
a volunteer under the Peace Corps Act (3-year limit);
pursuing advanced professional training beyond the first professional degree, including internships and residencies, if this training is a prerequisite for professional practice (unlimited);
on a leave of absence to pursue full-time educational activities that are directly related to the health profession for which you are preparing, and with the intent of returning to the original school as a full-time student (2-year limit);
a graduate of a health professions school engaged in a fellowship training program or in an educational activity directly related to the health profession for which you obtained the loan. You must enter the fellowship program or related activity either before the end of your advanced professional training (internship or residency), or no later than twelve months after completion of this training (2-year limit).

NOTE: If a borrower with a PCL fails to enter and complete a primary care residency program and to practice primary care, interest will accrue during all periods of deferment.

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