Health Profession Loans

What is a Health Profession Loan?

The Health Professions Student Loan (HPSL) is a low-interest, long-term federal loan. Unlike other student loans which come through the U.S. Department of Education, health profession loans are made possible by the U.S. Department of Health and Human Services.

Health profession loans are:

• Based on need, as determined on the FAFSA
• Repaid directly to Heartland ECSI, the loan processor
• Available to both graduate and undergraduate students in applicable programs

Health profession loans are available to nursing, pharmacy and vetmed students.

Pharmacy & VetMed

Eligibility

•Enrollment as a full time student.
•U.S. citizenship, permanent residency, or eligible noncitizen status.
•Satisfactory academic progress (as determined by SFS).
•No unresolved defaults or overpayments owed on Title IV educational loans and grants.
•Satisfaction of all Selective Service Act requirements.

Both eligibility and loan awards are re-determined each academic year. You may reapply annually.

Interest and Repayment

The interest rate is computed at the rate of 5% and will not accrue while you are in school as long as you maintain at least half time enrollment.

Additional Requirements

To be eligible, you must have completed your FAFSA on or before the WSU priority deadline and must be enrolled full-time in a program of study leading to a doctor of pharmacy (Pharm.D.) or doctor of veterinary medicine (D.V.M.) degree.

WSU is required to collect your parents’ financial information regardless of your age, tax, marital or independent status. Your parents’ financial information is required to make the best possible financial need estimate.

You will need to sign a Master Promissory Note every year you accept a health profession loan.

Nursing

Eligibility

•Enrollment as a half-time or full-time student.
•U.S. citizenship, permanent residency, or eligible noncitizen status.
•Satisfactory academic progress (as determined by SFS).

These funds are limited in quantity, and the maximum annual award amount per qualified student varies from year to year depending on the total available funding.

Interest and Repayment

You have a 9-month grace period once dropping below half-time (or graduating) before having to begin repayment.

The interest rate is 5% fixed, does not accrue until entering repayment, and there are no loan origination fees.

More information can be found on Heartland’s website.

Additional Requirements

You must complete your FAFSA on or before the WSU priority deadline and must be enrolled full-time in a program of study leading to a baccalaureate or graduate degree in Nursing.

This loan is administered through WSU.

You will need to sign a Master Promissory Note every year you accept a health profession loan.

Next steps for Health Profession Student Loans

Accepting a Health Profession Loan

All student loan types can be accepted through your myWSU account. For health loans, you will receive an email from Heartland ECSI within three business days of acceptance.

How to accept your loans

Health Loan MPN

Unlike other student loans, the Master Promissory Note and entrance counseling for health profession loans goes through Heartland ECSI. On their website you must:

• Sign your electronic MPN
• Read your rights & responsibilities and take a short quiz
• Complete your reference sheet

Complete your loan requirements

Loans disburse 5 business days after fulfilling these requirements.

Need help with your health profession loan?

If you encounter issues with your entrance counseling or master promissory note, you will need to reach out to Heartland ECSI’s loan servicing department.

Important notice: If you received an error trying to complete your documents online, you will need to complete and submit a paper version of the MPN and Entrance Counseling. (The Bursar’s Office will need ALL original pages with your signature and date.) For information on submitting paper forms, contact the Bursar’s Office.