Repay Health Professions Student Loan
- After you stop attending school full time, your grace period begins.
- Your initial grace period is 12 months and interest does not accrue during this time.
- If you re-enroll as a health professions student on a full-time basis during this grace period and are approved for an in-school deferment, you get another 12-month grace period the next time you stop attending school.
- If you re-enroll after your initial grace period has ended, you are not eligible for another grace period.
- Repayment begins after the grace period ends.
- Repayment period is not less than 10 years or exceed beyond 25 years, and is up to the discretion of the institution you attended.
- Regular payments are expected, usually each month, though your school might use a quarterly billing cycle.
- The minimum monthly payment is $40, but may be higher depending on your balance.
- You may prepay your loan at any time without penalty. Prepayment may substantially reduce your interest costs.
- You may qualify for deferment of repayment for:
- Peace Corps volunteer (up to three years)
- Advanced professional training (unlimited)
- Leave of absence to pursue related education activity (up to two years)
- Training fellowship, training programs and related educational activities for graduates of health professions school (up to two years)
If you ever have difficulty repaying your loan, contact your school or its servicer immediately, as you may have options.