What is a Health Professions Student
Loan?
The Health Professions Student Loan Program (HPL) is a loan
program governed by regulations and policy directives from the
federal Department of Health and Human Services. The federal
government supplies the funds. St. John's University administers
the program directly for the federal government.
Who is eligible for a Health Professions
Loan at St. John’s University?
To be eligible for this loan, you must be a dependent
student pursuing a Doctor of Pharmacy Degree (PharmD.), demonstrate
financial need and be registered full-time (the equivalent of 12
credits or more per term). You may receive a Health
Professions loan only toward the undergraduate portion of your
degree; you cannot receive a Health Professions loan once you have
begun the graduate portion of the PharmD. program.
What are the benefits of the Health
Professions Student Loan?
- Funds are credited directly to your account at St. John’s
University.
- Interest is fixed at five percent
- No interest accrues while you are enrolled full time (the
equivalent of 12 credits per term)
- There is a twelve-month grace period after you are no longer
enrolled (during which time no interest accrues) before loan
repayment must begin. The grace period starts when you are no
longer enrolled in the Pharmacy Program, graduate or fall below
full time status in school (the equivalent of 12 credits or more
per term)
- You have up to 10 years to repay the loan
- You are offered various options for deferment and/or
cancellation, such as returning to school and serving on active
duty in the military
Please Note:
- If the Health Professions Loan is listed as “pending” on your
award letter, you must submit all requested documentation to verify
the data on your FAFSA. Your Health Professions Loan funds
will not be disbursed to your account unless ALL outstanding
documentation requirements have been satisfied. (Please see reverse
side for information regarding checking for “Student Requirements”
on UIS).
- Students who do not complete the Health Professions Application
and Promissory Note and the Federal Truth in Lending document
within four weeks of the loan offer may forfeit eligibility for the
loan.
- If you have any questions regarding the Health Professions Loan
program, please call the Office of Student Financial Services at
(718) 990-2000.
What is the application
process?
If you wish to take advantage of this loan option, you must
complete the Health Professions Loan Application and Master
Promissory Note in full and submit it to our processing center. In
addition, students will be notified via email to complete the
Federal requirement of an electronic Truth in Lending document
online.
Please follow the steps listed below to print your Health
Professions Loan Application and Master Promissory Note (MPN) from
our University Web site.
- Go to the St. John's University Web site www.stjohns.edu
- Click on UIS (at the bottom of page) and then Login UIS
(University Information System) by providing your St. John’s User
ID and six-digit PIN Number
- Select the Financial Aid tab
- Click on My Eligibility
- Click on Student Requirements
- Click on Select Aid Year and select
2013-14
- Click on Obtain the Health Professions Loan
Application on-line under the Outstanding Requirements
column
- You will see the Health Professions Loan Application appear on
your computer screen. (In order to open this file you must have Adobe Acrobat
available on your computer.)
- Print out the Health Professions Loan Application
- Click on Obtain the Health Professions Loan MPN on-line. The
Health Professions Loan Master Promissory Note will appear on your
computer screen.
- Print out the Health Professions Master Promissory Note (HPL
MPN)
- Read all forms carefully. Complete all questions and sign pages
as instructed. Students younger than 18 years of age must
also have a parent sign the Master Promissory Note. (Parent
signature should be next to student signature on the front as well
as the back of the Promissory Note.)
Return the completed and signed Health Professions Application
and Master Promissory Note to our processing center:
St. John's University
P.O. Box 548
Randolph, MA 02368-0548
What happens next?
Once you have submitted your completed application and MPN to our
processing center and have completed the electronic Truth in
Lending document online, your Health Professions Loan requirements
are satisfied. Your Health Professions Loan will then be disbursed
by term to your St. John’s account.