The Health Education Loan Program provides educational loans to Texas students enrolled in the following programs of study: medicine, osteopathy, dentistry, podiatry, veterinary medicine, pharmacy, public heath, nursing, and allied health

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Health Education Loan Program Fact Sheet

The Health Education Loan Program provides educational loans to Texas students enrolled in the following programs of study: medicine, osteopathy, dentistry, podiatry, veterinary medicine, pharmacy, public heath, nursing, and allied health.

ELIGIBILITY REQUIREMENTS

Must be a permanent U.S. resident
Must be eligible to pay resident tuition at a Texas public or independent institution of higher education
Must be enrolled at least half-time in a course of study leading to a: doctor of medicine, osteopathy, dentistry, podiatry, or veterinary medicine degree; bachelor's or master of science degree in pharmacy; graduate degree in public health; or an associate's, bachelor's, or graduate degree in nursing or allied health
Must meet the satisfactory academic progress requirements set by the institution
Must have good credit standing or provide a cosigner who has good credit standing and meets other criteria
ANNUAL LOAN LIMITS


Up to $12,500 per academic year or a lifetime total of $50,000 for students in pharmacy, public health, nursing, and allied health
Up to $20,000 per academic year or a lifetime total of $80,000 for students in medicine, dentistry, osteopathy, podiatry, or veterinary medicine
A 3% origination fee will be deducted from the proceeds of each loan if both the borrower and cosigner has a good credit standing
A 5% origination fee will be deducted from the proceeds of each loan if either the borrower or cosigner, but not both has a good credit standing
COSIGNER ELIGIBILITY REQUIREMENTS


Must be at least 21 years of age
Must have a regular source of income
May not be the borrower or the spouse of the borrower
Must receive a favorable credit evaluation
Must be a U.S. citizen and reside in the U.S. or in a U.S. territory

INTEREST RATE

6.00% fixed annual

OTHER FEATURES

On-line application available
No guarantee fees or insurance premiums
Interest is not capitalized
Loan(s) will not be sold to another lender
THECB will service the loan from the time it is originated until it is paid in full
Nine month grace period before repayment begins
25-year repayment period, with minimum monthly payments of $50.00
Postponements of loan repayment and income-sensitive or graduated repayment schedules available