Repayment
At the time you graduate, drop below full-time enrollment, withdraw from an eligible course of study at the University, or are no longer a University student, the following sequence of instances apply to you, as an HPSL borrower:
Exit counseling
You are required by law to attend an exit counseling session.
Grace period
Your one-year grace period begins. Interest does not accrue on your HPSL loan and repayments are not required during the HPSL grace period. The grace period ALWAYS begins on the first day of the month nearest the date you cease to be a full-time student pursuing an eligible program (whether or not you have completed your degree).
Exception:
The grace period does not begin if you re-enter the same program or transfer to another health professions school (in an eligible health discipline) full-time within the grace period. You must submit deferment certification with the first school from which you received an HPSL loan to maintain your student status (see Deferment for procedures). Time spent in eligible deferment status does not alter the time at which the grace period occurs. If you plan to return to school before your grace period expires, contact Student Account Assistance.
Loan repayment begins
Your repayment period begins immediately when the grace period ends (after you have been away from an eligible course of study continuously for a full 12-month duration). You have a maximum of 10 years (120 months) to repay your total HPSL loan amount. For your convenience, a variety of payment methods are available, as described on the University-administered loan payments page. Please do not hesitate to contact a Student Account Assistance representative if you have concerns or questions about your ability to repay your loans on schedule.
