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Federal Health Professions Student Loans (HPSL)

A low-interest federal loan available to professional students in Doctor of Pharmacy or Veterinary Medicine who complete the FAFSA by March 1 including parent income information, demonstrate financial need, and enroll full-time in one of the eligible degree objectives. Choose an option below to expand and see more information.

  • Award Amounts, Interest Rate, and Loan Fees
    • The award amount depends on financial need as calculated by the Division of Financial Aid from FAFSA results. The interest rate is 5% annually on the declining balance. The Health Professions Student Loan program does not have origination fees.

  • Application Procedure
    • File the FAFSA every year by March 1 for consideration; award based on level of financial need.

      Once the loan is offered, accept offer on your myPurdue.

      Sign the promissory note at http://www.ecsi.net/prom3P 1-3 business days after accepting the loan.

  • Aggregate Maximums
    • None

  • Minimum Credit Hours Per Semester
  • Cosigner Required
    • No

  • Repayment
    • $40 minimum monthly payment. Larger amount may be required, if necessary, to repay loan within time limit. (Must remain in 12 credit hours or grace period begins immediately).

      There is no penalty for early repayment.

      The maximum repayment period is 10 years.

  • Consequences of Delinquency
    • Account will be listed with a collection agency. Report will be made to a credit bureau. Loans made from Purdue will result in readmission to Purdue University being denied and official transcripts withheld. All further aid at Purdue University will be denied to student. Legal action will be taken on extended default.

Special Application Requirements

  • Parent's Financial Information
    • Students must file FAFSA for consideration. All professional students will be considered independent according to the need analysis formula in Title IV of the Higher Education Act. Nonetheless, institutions still must take parents' information into account for the purpose of awarding HPSL funds. This requirement cannot be waived. In cases where the parents refuse to provide income information, an affidavit documenting such a refusal cannot be accepted in lieu of the required information. Unless the parents are deceased, a student who does not provide parental income information may not be considered for HSPL funds.

      Use of parental data on the FAFSA does not guarantee the student is awarded the HPSL as these funds are limited each year.

Borrower's Responsibilities

  • Entrance/Exit Interview
  • Notification of Change of Name and/or Address
    • Notify ECSI, 181 Montour Run Road, Corapolis, PA, 15108-9408. Phone 1-888-549-3274.