Health Education Financial Aid Frequently
Asked Questions
Question: Are there grants, fellowships and cooperative programs available in specific health profession areas?
Answer: Yes. Please note that many of these programs are not accepting applications at this time due to deadlines already passed. However, please see the various links for upcoming application dates.
Allied Health, Centers of Excellence, Chiropractics, Dentistry, Diversity, Geriatrics, Medicine, Nursing, and Public Health
The Health Workforce Information Center's (HWIC) website also offers information on programs available to students and graduates of the health professions.
Question: Is there a loan repayment program for faculty who work in a health profession?
Answer: Yes. It is called the Faculty Loan Repayment Program (FLRP).
FLRP provides financial incentive for degree-trained health professionals to pursue academic careers. If selected, you must agree to serve on the faculty of an accredited health professions school for a minimum of two years. In return, the Federal government agrees to pay, for each year of faculty service, up to $20,000 of the outstanding principal and interest on the participant's educational loans.
Another program is the NIH (National Institute of Health) Loan Repayment Program. This program aims to attract health professionals to careers in clinical, pediatric, health disparity, or contraceptive and infertility research.
Question: Where can I find information on repaying a student loan?
Answer: After you graduate, leave school, or drop below half-time enrollment, you have anywhere from six to nine months before you begin repayment on your federal student loans. You will receive information about repayment and will be notified by your loan provider of the date loan repayment begins.
Information on the Federal Student Loan Repayment Program - permits agencies to repay Federally insured student loans as a recruitment or retention incentive for candidates or current employees of the agency.
Information on National Health Service Corps Loan repayment - provides funds to program participants to repay their outstanding qualifying educational loans.
Information on Loan Repayment/Forgiveness Scholarship Programs - information on U.S. programs that offer financial assistance, in the form of loan repayments, for a commitment to service (generally in an area of need).
Question:
I need financial aid for school. What is the first thing I need
to do?
Answer:
The first thing you need to do is to see if
you qualify for federal sources of financial aid. To find out if
you do, you must complete and submit the form titled Free Application
for Federal Student Aid (FAFSA).
Question:
What is the FAFSA form and where do I get one?
Answer:
The FAFSA will determine your student financial aid eligibility
by applying a standard financial aid eligibility calculation to
you and your family's personal and financial information, conduct
checks with other government agencies (Social Security Administration
and Selective Service for example) to ensure that you are eligible
for federal student aid, and electronically forward a record of
the application to the school/schools specified by you. This form
gets mailed to the U.S. Department of Education.
This form
is available free at your school’s financial aid office, or
online through the U.S. Department of Education website free of
charge. There are various commercial websites who will submit the
form to the U.S. Department of Education for you but they will also
charge you a fee.
Fill this
form out as early as possible.
Question:
What types of loans and grants are available for student financial aid?
Answer:
There are Plus Loans (Parent Loans), Perkins Loans, Federal Pell Grants, the Federal Work Study Program, and FFEL Direct Loans called Stafford Loans. PLUS Loans, or Parent Loans to meet students' education
costs, are available through both the FFEL Program and the Direct
Loan Program. Parents who have an acceptable credit history can
borrow a Parent PLUS Loan to pay the education expenses of a child who
is a dependent student enrolled at least half-time in an eligible
program at an eligible school.
A Federal
Perkins Loan is a low-interest (5 percent) loan for both undergraduate
and graduate students with financial need. Your school is your lender. The loan is made with
government funds with a share contributed by the school. You must
repay this loan to your school.
A Pell Grant is money that does not have to be repaid. Pell Grants are awarded only
to undergraduate students who have not earned a bachelor's or professional
degree.
The Federal Work-Study (FWS) provides part-time
jobs for undergraduate and graduate students with financial need,
allowing them to earn money to help pay education expenses.
FFEL and Direct Loans are also called Stafford Loans. They have variable interest rates (unlike Federal Perkins Loans) and are for both undergraduate and graduate students. The loans you receive will be either subsidized or unsubsidized.
Question: Where do I find someone to help me find and apply for student financial aid?
Answer: Call the office of Federal Student Aid Information Center (FSAIC) at 1-800-433-3243. Free help is also available at the schools you're applying to. Talk to the financial aid administrator at the school you plan to attend. Information is available at your local public or college library.
Question:
Where can I find out information on state student aid?
Answer: Contact
your state higher education agency (usually located in the capital of your
state).
Question:
I am a Veteran. Are there any education
financial assistance programs for me?
Answer:
Yes. Educational financial aid information is available at the GI
Bill website.
Specific information is also available regarding the Montgomery
GI Bill for Active Duty, Montgomery GI Bill for Selected Service, Veterans Educational Assistance Program, Survivors'
and Dependents' Educational Assistance Program, and Training for Veterans with Service-Connected Disabilities (Vocational Rehabilitation).
Question: I am going to study in a foreign country? Are there financial
aid programs available to me?
Answer:
Yes. International Scholarships Online provides information on financial
aid and scholarships
for international students wishing to study abroad.
Also, International
Student Loan Center provides information and advice to international
students.
Credits
For
additional help, contact:
U.S. Dept. of Education FSA Website
Health
Resources and Services Administration (HRSA)
U.S. Department
of Education
Maintained by: Aubrey Madler, aubrey@raconline.org
Last revised 11/16/2009
