Health Profession Loans for Disadvantaged Students (HPLD)

A Department of Health and Human Services Health Professions Loan for Disadvantaged Students is a low-interest loan that can be given to students showing exceptional financial need. The student must be enrolled in and pursuing a degree in allopathic or osteopathic medicine, dentistry, optometry, podiatry, pharmacy or veterinary medicine. Schools participating in the Disadvantaged Student Loan program are responsible for selecting the loan recipients and determining financial need and disadvantaged student status. To find out if you might qualify for a Disadvantaged Student Loan please contact the MU Student Financial Aid Office.


Repayment Information

Once you graduate, or if you cease to be enrolled on a full time basis pursuing a degree as listed above, your HPLD Loan will go into a 12 month grace period. For example, if you graduate in May 2006, your grace period would start May 2006 and end in May 2007 (interest would begin accruing in May 2007). Your first payment would be due 6/1/2007. Your minimum monthly payment is $40 or the amount that will payoff your loan in 10 years. HPLD loans have an annual interest rate of 5% and interest is computed daily on the outstanding principal balance.

The status of each HPLD loan is reported monthly to a national credit bureau. If you are current on your loan payments you will establish a good credit history. If you become past due on your loan payments, the delinquency will be reported, which will damage your credit history.


Deferments

To qualify for a deferment you must be performing an activity that qualifies for deferment and your loan must be in current status (meaning no payments are past due). Please see our deferment webpage to find out how to apply for deferments.

Deferments available:
Residency/Internship; Advanced Professional Training.
Full time Study at Health Profession school with Health Profession program.
Leave of absence with intent to return full time to Health Profession school - 2 year limit.
Fellowship engaged in by the borrower within 12 months after completion of borrower's participation in advanced professional training - 2 year. limit
Active duty in uniformed service of the United States - 3 year limit.
Peace Corp - 3 year limit.


Cancellations

If the borrower dies, 100% of the borrower's loan will be cancelled - a certified copy of the death certificate is required.