Federal Health Professionals Loan (HPSL)

The Health Professions Loan is administered by the U.S. Department of Health and Human Services, Health Resources and Services Administration Bureau of Health Workforce. The loan application process and requirements to be considered for funding are determined by the U.S.
Department of Health and Human Services. Health Professions Student Loan awards will be made by Iowa State University to eligible students.

Loan Features

• Need-based loan that is repaid 12 months after leaving
• 0% interest while in school and 12 months after leaving school
• No loan origination fee
• Loan amounts vary by funding available, as well as financial need

How to Apply

• Complete the FAFSA by March 1
• Due to changes to the 2024-2025 FAFSA, independent students can no longer provide parent information. However, the U.S. Department of Health and Human Services, Health Resources and Services Administration Bureau of Health Workforce is still requiring that schools collect parent information from students who wish to be considered for the Health Professions Student Loan (HPSL)
• Monitor your email for additional action steps to provide parent information later in the spring semester

Requirements

• The student must provide parent financial information to be considered for the Health Professions Student Loan, despite being considered independent for all other financial aid purposes
• The FAFSA must be completed by March 1st
• The student must complete verification of their FAFSA if selected
• he student must provide parent information, and more information will be provided to the student via email with instructions on what, when, and where to provide documents
• If offered the Health Professions Student Loan as a first-time borrower of the loan, the student must complete a MPN in AccessPlus to agree to the terms of the loan
• If offered the Health Professions Student Loan and is a returning borrower, the student must complete an Annual Review in AccessPlus
• If offered the Health Professions Student Loan, the student must sign a self-certification form in AccessPlus

Repayment

• Repayment begins twelve months after the student graduates or ceases to be enrolled full-time
• Interest will start accruing when repayment begins
• The loan will be repaid to University Accounting Service (UAS)
• The loan can be consolidated with Federal student loans