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 1st.
Students who file the FAFSA by March 1st will be notified to complete questionnaire in Workday to confirm if they want to apply for the Health Professions Student Loan.
Once the questionnaire is completed, the student and parent(s) must provide requested financial information.
If offered the Health Professions Student Loan, the student will be prompted to complete a promissory note and self-certification form to sign for the loan.

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 and parent(s) must provide requested financial information to determine if the student is eligible to receive the Health Professions Student Loan.
Student and parent financial information will be used to calculate if the student had financial need to qualify for the Health Professions Student Loan. Funding is not guaranteed.

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

Office of Student Financial Aid

0210 Beardshear Hall
515 Morrill Road
Ames, IA 50011-2103

Fall/Spring Office Hours : Monday-Friday 8:00am-5:00pm