Loan Repayment Programs

Loan Repayment Programs

Loan Repayment Programs

Federal Direct Subsidized and Unsubsidized Loans
Anticipated Loan amounts will be applied to student accounts for calculation prior to the first day of instruction, provided all applications and supporting documentation have been received and reviewed by the Office of Financial Aid and Scholarships. www.studentloans.gov

Federal Grad Plus and Parent Plus Loans
Anticipated Loan amounts will be applied to student accounts for calculation prior to the first day of instruction, provided confirmation of the award has been received by the funding agency and the student has signed the Master Promissory Note. www.studentloans.gov

Other Programs
Actual loan or award amounts will be applied when funds are disbursed to student accounts.

New Student Loan Interest Rates
For Loans Borrowed
July 1, 2013 – June 30, 2014

Loan Type
Subsidized and Unsubsidized
Borrower
Undergraduates 3.86%
Graduate/Professional 5.41%

Loan Type
PLUS
Borrower
Grad or Parent 6.41%

Private Loans: These loans are privately funded and
are not based on need, so no federal formula is applied
to determine eligibility. However, the amount
borrowed cannot exceed the cost of education minus
other financial aid. Interest rates and repayment terms
vary and are generally less favorable than those
provided through the federal lending program. Private
loans are used to supplement the federal programs
when the cost of education minus federal aid still
leaves unmet need.

Health Professions Loan Repayment Program  
Sponsor: Health Professions Education Foundation 
Deadline: October 1, 2013 
Award: Up to $20,000 to repay educational debt paid over a two-year period
Service Requirement: A two-year service obligation practicing in direct patient care in a medically underserved area (MUA) in California
Who Can Apply: Applicant's who have graduated and are practicing Dentists, Dental Hygienist, Nurse Practitioners, Certified Nurse Midwives and Physician Assistants. http://www.oshpd.ca.gov/hpef/HPSPLRP.html

National Health Service Corps (NHSC)/State Loan Repayment Program (SLRP)  
Sponsor: Office of Statewide Health Planning and Development
Deadline: October 19, 2013
Award: Up to a maximum award of $120,000
Service Requirement: Must commit to practice in medically underserved areas in public or non-profit entities for a minimum of two years and maximum of four years
Who Can Apply: Be U.S. citizen with a valid, unrestricted healthcare license or certificate for the State of California for Physician Assistant and Nurse Practitioners; Have no other existing service commitment; Be free of judgments arising from Federal debt; Be current on all child support payments; Be currently employed or have accepted employment at a California State Loan Repayment Certified Eligible Site; Commit to providing full-time (40 hours per week) primary care service in a California HPSA for a minimum of 2 years. http://www.oshpd.ca.gov/hwdd/slrp.html

  National Health Service Corps  
Sponsor: U.S. Department of Health & Human Services
Deadline: Varies
Award: $50,000
Service Requirement: 2 year service commitment
Who Can Apply: Must be a U.S. Citizen, Permanent Residents are not eligible to apply.  Must have a certificate of completion or an associate, bachelor’s or master's degree from a physician assistant educational program accredited by the Accreditation Review Commission on Education for the Physician Assistant a college, university or educational institution that is accredited by a U.S. Department of Education nationally recognized regional or State institutional accrediting agency, AND 2) national certification by the National Commission on Certification of Physician Assistants, AND3) a current, full, permanent, unencumbered health professional license (or, if applicable, a current, unencumbered certificate or registration) which is from the State in which the applicant intends to practice to fulfill his/her NHSC LRP service obligation. Refer to the website to view additional qualifications. http://nhsc.hrsa.gov/scholarships