Contact Financial Aid
Student Financial Assistance Nova Southeastern University Horvitz Admin. Bldg, 1st Flr. 3301 College Avenue Ft. Lauderdale, FL 33314
(954) 262-3380 800-806-3680 Fax: (954) 262-3966
Contact Student Financial Assistance
The LDS and HPSL programs provide long-term, low-interest rate loans (5%) to full-time, financially needy students from disadvantaged backgrounds, to pursue a degree in allopathic medicine, osteopathic medicine, dentistry, optometry, podiatric medicine, pharmacy, or veterinary medicine.
A student applicant must be a citizen or national of the United States, or a lawful permanent resident of the United States, the Commonwealth of Puerto Rico, the Northern Mariana Islands, the Virgin Islands, Guam, American Samoa, or the Trust Territory of the Pacific. A student who remains in this country on a student or visitor's visa is not eligible.
Loans made on or after November 13, 1998, may be made in amounts that do not exceed the cost attendance (including tuition, other reasonable educational expenses, and reasonable living expenses).
Parents' Financial Information
Graduate students are independent; however, U.S. Department of Health and Human Services regulations require schools to consider parents' information for the purpose of awarding HPSL or LDS funds. This requirement cannot be waived unless the parents are deceased; a student who does not provide parental income information will not be considered for HPSL or LDS funds.
An interest rate of five percent per year applies to all loans made on or after November 4, 1988. Interest is computed on the unpaid principal balance and begins to accrue upon expiration of the grace period, unless a borrower is eligible for deferment status.
The grace period for LDS and HPSL is one year long during which repayment of principal is not required and interest does not accrue. The grace period immediately follows completion or termination of full-time-student status and cannot be postponed to follow any deferments for which the borrower may be eligible.
A deferment period on LDS and HPSL means that interest does not accrue and the borrower does not have to make payments on the loan. Borrowers may obtain deferments if they participate in certain activities, please see chart below:
Due to a borrower's extraordinary circumstances, and at the discretion of the institution, the borrower may be placed in forbearance. This has the effect of temporarily suspending payment of principal; however, interest continues to accrue. During periods of forbearance, interest continues to accrue on the unpaid principal balance of the loan. Further, a minimum payment must be made on all accrued interest during the period in which the borrower is in forbearance.
LDS and HPSL may be canceled because of the death of the borrower, or because the borrower has become permanently and totally disabled.
Permanent and Total Disability
A borrower is entitled to cancellation of an HPSL in the event of permanent and total disability. Permanent and total disability is defined as being unable to engage in gainful employment of any kind because of a medically determinable impairment which is expected to continue for a long and indefinite period of time or to result in death. The review and final determination shall be made by the Secretary on the recommendation of the school, supported by required medical certification relating to the borrower's disability.
Please see the lists below of Acceptable and Unacceptable Training and Practice Activities per the U.S Department of Health and Human Services.
Acceptable Residency Training for Osteopathic Medicine Approved 3-Year Residencies
Acceptable Practice Activities for Osteopathic Medicine Primary Clinical Practice
Urgent Care [Campus Based Policy Memorandum 2003 - 1]
Senior/Chief Resident in primary care residency program
Faculty, Administrators, or Policy Makers certified in one of the primary health care disciplines
Unacceptable Residency/Practice Activities for Osteopathic Medicine