What's Next?
  • 5% fixed interest rate.
  • Must provide parental income information on FAFSA and copy of parent's tax return.
  • 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), usually $3,000 per year.
  • 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. Students cannot be considered for the HPSL unless they have provided complete parental information on the FAFSA.