UAMS.EDU

Types of Aid

Below is a brief description of the Title IV Programs administered by the US Department of Education and the Title VII Programs administered by the US Department of Health and Human Services available to UAMS students. The eligibility requirements for each program may vary.

Title IV Programs administered by the US Department of Education:

Federal Pell Grant

A Federal Pell Grant does not have to be repaid. Pell Grants are awarded to undergraduate students who have not earned a bachelor’s or a professional degree. The amount a student can receive will depend on their financial need, costs to attend school, status as a full or half-time student, Pell Lifetime Eligibility Used (LEU) and if they attend school for a full academic year or less.

Federal Supplemental Education Opportunity Grant (FSEOG)

The FSEOG does not have to be repaid. This is a secondary grant program for students who have full Pell Grant eligibility and who are enrolled at least half-time. Funds are limited. Students who earn a bachelor’s degree are no longer eligible to receive this grant.

Federal Perkins Loans

A Federal Perkins Loan is a low-interest (5 percent fixed) loan for both undergraduate and graduate students with exceptional financial need. These are campus based loans that are made with available government funds. UAMS is the lender. Funds are limited.

• After graduating, a student may qualify for a portion of this loan to be cancelled on an annual basis. Please contact the Bursar’s Office for eligibility requirements at (501) 686-6128.

Repayment: Upon graduation/separation from school, you are entitled to a nine month grace period before repayment begins. You will receive monthly statements from our billing servicer, Educational Computer Systems, Inc. (ECSI). To view your account, set up a monthly draft, make payments, or download forms (postponement/cancellation, deferment, etc.) visit their website at www.ecsi.net. You may also contact the Bursar’s Office at (501) 686-6128 for questions regarding your loan(s) or to make payment by debit/credit card.

Federal Stafford Loans (Subsidized and Unsubsidized)

Both Subsidized and Unsubsidized are low interest loans. The loans are made by the U.S. Department of Education – Direct Lending.  There is a processing fee of 1.051% for loans first disbursed on or after July 1, 2013 and before November 30, 2013, 1.072% for loans first disbursed on or after December 1, 2013 and before September 30, 2014 and 1.073% for loans first disbursed on or after October 1, 2014 and before October 1, 2015.  The fee is deducted proportionately from each loan disbursement.  A student may receive both a Subsidized and Unsubsidized Loan for the same enrollment period as long as they don’t exceed the annual loan limits.

Subsidized: available to eligible undergraduate students attending at least half-time and is based on financial need. While a student is continuously enrolled (half-time), they make no payments on the interest or principal of this loan. Current interest rate is 4.66% for loans made on or after July 1, 2014.  The rate is 3.86% for loans made on July 1, 2013 and before July 1, 2014.

Unsubsidized: available to all eligible students attending at least half-time. The student is responsible for the interest from the time the loan is disbursed until it’s paid in full. You may choose to pay the interest or allow it to accrue (accumulate) and be capitalized (added to the principle amount of the loan) while in school. Capitalizing the interest will increase the total amount of repayment.  The fixed interest rate for loans disbursed on or after July 1, 2014 is 4.66% for undergraduate students and 6.21% for graduate students.

Repayment: After the student graduates, leaves school, or drops below half-time enrollment, they will have a six month grace period before beginning repayment. During this time, the student should receive repayment information from their the U.S. Department of Education Loan Servicer and will be notified of their first payment due date. It is the student’s responsibility to contact the U.S. Department of Education should they not receive this information.

Federal Parent PLUS Loans

A Federal Parent PLUS Loan has a fixed interest rate of 7.21%.  There is a processing fee of 4.204% for loans first disbursed on or after July 1, 2013 and before November 30, 2013, 4.288% for loans first disbursed on or after December 1, 2013 and before September 30, 2014 and 4.292% for loans first disbursed on or after October 1, 2014 and before October 1, 2015.  The fee is deducted proportionately from each loan disbursement. This loan is available for parents in order to help pay the student’s education expenses. The student must be considered a dependent undergraduate student and enrolled at least half time in a degree seeking program. The parents must have acceptable credit history and meet other general eligibility requirements.

Repayment: The borrower has the option of beginning repayment on the PLUS loan 60 days after the loan is fully disbursed or they may opt to wait until six months after the dependent student is no longer enrolled at least half-time.

Federal Graduate PLUS Loans

A Graduate PLUS Loan has a fixed interest rate of 7.21%. This loan is available for graduate students.  There is a processing fee of 4.204% for loans first disbursed on or after July 1, 2013 and before November 30, 2013, 4.288% for loans first disbursed on or after December 1, 2013 and before September 30, 2014 and 4.292% for loans first disbursed on or after October 1, 2014 and before October 1, 2015.  The fee is deducted proportionately from each loan disbursement. This loan is subject to the terms of the Parent PLUS Loans including credit history and other general eligibility requirements.  Additionally, the student must have applied for their annual loan maximum eligibility under the Federal Unsubsidized Stafford Program before applying for this loan.

Repayment: The student begins repayment at the time of the last disbursement of the loan.

Title VII Programs administered by the US Department of Health and Human Services:

Federal Health Professions Student Loans

If interested in the Federal Pharmacy HPSL Program you must complete and return the HPSL Pharmacy Loan Interest form.  Please visit the Forms section of this site.

A Federal Health Professions Loan has a fixed interest rate of 5%. This loan is available to College of Pharmacy students enrolled full time and is based on financial need. The student must also provide their parent’s income tax information on the FAFSA. UAMS is the lender of this campus based loan.  Funds are limited

Repayment: Upon graduation/separation from school, you are entitled to a twelve month grace period before repayment begins. You will receive monthly statements from our billing servicer, Educational Computer Systems, Inc. (ECSI). To view your account, set up a monthly draft, make payments, or download forms (postponement/cancellation, deferment, etc.) visit their website at www.ecsi.net. You may also contact the Bursar’s Office at (501) 686-6128 for questions regarding your loan(s) or to make payment by debit/credit card.

Loans for Disadvantage Students (LDS) – College of Medicine

If interested in the LDS Program you must complete and return the LDS Loan Interest form.  Please visit the Forms section of this site.

Information from http://www.hrsa.gov/loanscholarships/loans/disadvantaged.html

The Loans for Disadvantaged Students is a federal loan program that provides long-term, low-interest rate (5%) loans 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.  The student must also provide parent’s income tax information on the FAFSA.  UAMS is the lender of this campus based loan.  Funds are limited.

Eligible Applicants

You are eligible to apply for this loan at a school that participates in the Loans for Disadvantaged Students program if you are

  • From a disadvantaged background as defined by the U.S. Department of Health and Human Services:
    An individual from a disadvantaged background is defined as one who comes from an environment that has inhibited the individual from obtaining the knowledge, skill, and abilities required to enroll in and graduate from a health professions school, or from a program providing education or training in an allied health profession; or comes from a family with an annual income below a level based on low income thresholds according to family size published by the U.S. Bureau of Census, adjusted annually for changes in the Consumer Price Index, and adjusted by the Secretary, HHS, for use in health professions and nursing programs.
  • A citizen, national, or a lawful permanent resident of the United States or the District of Columbia, the Commonwealths of Puerto Rico or the Marianas Islands, the Virgin Islands, Guam, the American Samoa, the Trust Territory of the Pacific Islands, the Republic of Palau, the Republic of the Marshall Islands and the Federated State of Micronesia.

Repayment: Upon graduation/separation from school, you are entitled to a twelve month grace period before repayment begins. You will receive monthly statements from our billing servicer, Educational Computer Systems, Inc. (ECSI). To view your account, set up a monthly draft, make payments, or download forms (postponement/cancellation, deferment, etc.) visit their website at www.ecsi.net. You may also contact the Bursar’s Office at (501) 686-6128 for questions regarding your loan(s) or to make payment by debit/credit card.

Primary Care Loans (PCL) – College of Medicine

Information from http://www.hrsa.gov/loanscholarships/loans/primarycare.html

If interested in the PCL Program you must complete and return the Primary Care Loan Interest form.  Please visit the Forms section of this site.

The Primary Care Loan program is a low cost federal loan program for medical students committed to primary health care practice.  The Primary Care Loan program provides long-term, low interest rate (5%) loans to full-time, financially needy students. When compared to other federal student loans and private loans, the PCL provides significant savings. The loan also offers deferment of principal and interest not found in other loan programs. Loans to third and fourth year students may be increased to repay outstanding balances on other loans taken out while in attendance at that school.   Dependent students must provide parent’s income tax information on the FAFSA.  UAMS is the lender of this campus based loan.  Funds are limited.

Medical students receiving a Primary Care Loan must agree to

  • enter and complete residency training in primary care within four years after graduation and
  • practice in primary care for 10 years (including the years spent in residency training) or through the date on which the loan is repaid in full, whichever occurs first.

What are some examples of primary health care?

PRIMARY HEALTH CARE ACCEPTABLE
Clinical Preventive Medicine
Occupational Medicine
Public Health
Public Policy Fellowship
Senior Residencies in one of the above
Faculty administrators / policy makers certified
in one of the primary health care disciplines
Geriatrics
Adolescent Medicine
Adolescent Pediatrics
Sports Medicine

Eligible Applicants

You are eligible to apply for this loan if you are:

  • A citizen, national, or a lawful permanent resident of the United States or the District of Columbia, the Commonwealths of Puerto Rico or the Marianas Islands, the Virgin Islands, Guam, the American Samoa, the Trust Territory of the Pacific Islands, the Republic of Palau, the Republic of the Marshall Islands and the Federated State of Micronesia.
  • enrolled as a full-time student in a degree program leading to a doctor of medicine or doctor of osteopathy
  • a United States citizen or eligible non-citizen
  • Provide financial information about your parents (dependent students)
  • Demonstrate financial need
  • Owe no federal grant refund and be in default on no federal loan
  • Maintain good academic standing
  • Register with Selective Service if required by law

If you are not firmly committed to the practice of primary health care, you should not accept a PCL.  At the point you fail to fulfill your service obligation, the outstanding loan balance will be computed annually at an interest rate of 2% greater than the rate at which the student would pay if compliant.  Students should exercise caution before applying for this loan.

Repayment: Upon graduation/separation from school, you are entitled to a twelve month grace period before repayment begins. You will receive monthly statements from our billing servicer, Educational Computer Systems, Inc. (ECSI). To view your account, set up a monthly draft, make payments, or download forms (postponement/cancellation, deferment, etc.) visit their website at www.ecsi.net. You may also contact the Bursar’s Office at (501) 686-6128 for questions regarding your loan(s) or to make payment by debit/credit card.

Federal Nursing Student Loans

A Federal Nursing Student Loan has a fixed interest rate of 5%. This loan is available to College of Nursing students enrolled at least half-time and is based on financial need. UAMS is the lender of this campus based loan.  Funds are limited.

Repayment: Upon graduation/separation from school, you are entitled to a nine month grace period before repayment begins. You will receive monthly statements from our billing servicer, Educational Computer Systems, Inc. (ECSI). To view your account, set up a monthly draft, make payments, or download forms (postponement/cancellation, deferment, etc.) visit their website at www.ecsi.net. You may also contact the Bursar’s Office at (501) 686-6128 for questions regarding your loan(s) or to make payment by debit/credit card.

Scholarships

Academic Scholarships

Academic scholarships are awarded by the individual colleges. Please contact your respective Registrar’s office for further information.

Important: For more information on scholarships, please see the “Scholarship” section of this site.

College of Medicine Students

Please contact the College of Medicine at (501) 686-5354 for information regarding scholarships.  You may also view scholarship information on the COM website.