Health Education Financial Aid Frequently
Asked Questions
Frequently Asked Questions
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: 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, see the various links for upcoming application dates:
The Health Workforce Information Center (HWIC) website offers information on programs available to students and graduates of the health professions.
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.
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 Free Application for Federal Student Aid (FAFSA).
Question: What is the FAFSA form and where do I get one?
Answer: The FAFSA, or Free Application for Federal Student Aid, determines your student financial aid eligibility by applying a standard financial aid eligibility calculation to you and your family's personal and financial information, and conducting checks with other government agencies (e.g. Social Security Administration
and Selective Service) to ensure you are eligible for federal student aid. A record of the application is electronically forwarded to the school/schools specified by you. This form
gets mailed to the U.S. Department of Education.
FAFSA forms are available for free at your school’s financial aid office or through the U.S. Department of Education website. Various commercial websites will submit the form to the U.S. Department of Education for you but 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 Perkins Loans, Federal Pell Grants, the Federal Work Study Program, and FFEL Direct Loans called Stafford Loans and Plus Loans (Parent Loans).
- Federal
Perkins Loan
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
- Pell Grants
Do not have to be repaid. They are awarded only to undergraduate students who have not earned a bachelor's or professional degree
- 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
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
- PLUS Loans, or Parent Loans
To meet students' education costs, are available through both the FFEL Program and the Direct Loan Program
- Parent PLUS Loan
Available to parents who have an acceptable credit history, 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.
Question: Where do I find someone to help me find and apply for student financial aid?
Answer: Call the 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 your state's capital.
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 at:
Question: I am going to study in a foreign country. Are there financial aid programs available to me?
Answer: Yes. The NAFSA: Association of International Educators and FinAid offer information on financial aid sources for studying abroad.
Last reviewed 11/25/2011
