• 5% fixed interest rate
• Must provide parental income information on FAFSA
• Interest is subsidized (paid) by the federal government during in-school, grace, and approved deferment periods
• Maximum annual loan can be equal to the cost of education (actual loan will be dependent upon available funds)
• Need-based eligibility determined by the results of FAFSA. Determination of need must also include an analysis of parental financial information
• Student borrows through the school
• There are no loan fees
• Grace period of 12 months after enrollment ceases
• Deferment and Forbearance options available
• Standard 10-year repayment schedule; minimum $40/month payment

Parental Information

The federal government requires parental financial information for all students who receive the HPSL. Parental information does not mean providing a federal tax return; it requires the completion of "Step Four" (the purple portion) of the FAFSA and a parental signature on the FAFSA. Students cannot be considered for the HPSL unless they have provided complete parental information on the FAFSA.

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