Health Professional Student Loan
The Health Professional Student Loan (HPSL) is a need-based loan offered at a 5% interest rate to students in the School of Veterinary Medicine, Doctor of Veterinary Medicine (DVM) program. The HPSL is not available to students in the Master of Preventative Veterinary Medicine (MPVM) program. Graduate students are considered independent for financial aid eligibility; however, regulations by the U.S. Department of Health and Human Services require schools to consider parents' information for the purpose of awarding HPSL funds.
HPSL Incentives
The HPSL loan has the following incentives:
- 5% interest rate; fixed
- Interest does not accrue while the student is enrolled at least half-time
- 12-month grace period
Seeking Eligibility
For a student to seek eligibility for the HPSL, the student must:
- Have a Free Application for Federal Student Aid (FAFSA) on file. California Dream Act (CADAA) applicants are not eligible for this federal loan
- Provide parent income information for the year requested. Parent income is only used for seeking eligibility for the HPSL
- Have a minimum need of $200
How Need is Calculated
A student’s need for the HPSL is calculated using student and parent income information to identify a combined Student Aid Index (SAI) number. The combination of the student and parent SAI is then subtracted from the Cost of Attendance (COA) along with grants, scholarships, and any other resources used to pay for tuition and fees.
Application Process
The Health Professional Student Loan (HPSL) application process is now open for 2024-25. If you are a DVM Student with a FAFSA on file, you may log in to MyAwards and view the HPSL application link under Important Notices.
Once you click the link within MyAwards, you will be taken to Forms.
Click Submit and enter your parent’s email. Please ensure that your parent knows that you are applying as they will be receiving an email asking for parent income information. Your parent should have your UC Davis Student ID number and their 2022 tax return information before opening the application. This is a one-time application process. Once your parent opens the application, it must be completed and submitted in the same session.
Please allow 7-10 business days for review and processing.
Students not eligible for HPSL will be notified.
Awarding
Students eligible for the HPSL will be offered the loan in September. For the 2024-25 academic year, a student may be offered the HPSL between $200 and the maximum amount of $13,000 based on eligibility. The maximum of the HPSL may vary by academic year and funds are limited. Please note: Current offered and/or accepted loan(s) may be reduced to allow for posting the advantageous HPSL.
Steps for Loan Acceptance
Students will accept the HPSL through MyAwards. After the loan is accepted, students must wait three (3) business days to access their requirements through MyAwards.
Students will be completing the following requirements on the website of our loan processor, Heartland ECSI:
- Truth in Lending Disclosures (3)
- Entrance Interview Counseling and student information
- Self-Certification
- Promissory Note
After the requirements are completed, the Right to Cancel hold period begins and requirements will automatically satisfy after three (3) business days. A student must complete the School of Veterinary Medicine Supplemental Application through MyAwards and submit it with a signature through Contact An Expert.
Re-Calculation of Need
It is required by the Department of Health and Human Services to recalculate need if, during the academic year, a student receives additional grants, scholarships, or any other resources to help pay for tuition and fees. This recalculation may require the student’s HPSL to be reduced or canceled. It is important for a student to report any additional resources through a Change in Aid submission.