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Health Professions Student Loan

A Health Professions Student Loan (HPSL) is a subsidized low-interest loan limited on the UC Berkeley campus to Optometry students. To be considered for an HPSL, Optometry students need to include parent information on their Free Application for Federal Student Aid (FAFSA), regardless of their independent status for all other programs.  

Although the loan is made with government funds, Berkeley contributes a share and is your institutional lender; hence, you repay this loan to Berkeley. The servicer of your loan is ACS.

If you have left the university and have questions about your HPSL, please send them to accountconsultants@berkeley.edu.

Complete Loan Requirements: Please note, completing requirements is a 2-step process. If you received an email advising you to complete the loan requirements, go to financial counselor to complete your Entrance Counseling Interview. After you complete the Entrance Counseling (be sure to enter the loan type "HPSL" at the end), you should be automatically routed to your personalized Master Promissory Note and Truth in Lending (TILA) documentation. You can also access your personalized TILA information at the ACS E-Sign website.

See the Loan Process section below to learn more about the HPSL and what steps you need to complete in order to receive the loan.

What's the Interest Rate?

The interest rate for an HPSL is 5.0%

How Much HPSL Can You Borrow?

Students typically receive around $6,000 of HPSL per academic year. Annual loan amounts can vary and are determined each year based on fund availability. 

The Loan Process

Once you've decided to borrow a federal student loan, you need to complete required processes before the loan pays out (disburses).

WHAT YOU NEED TO DO

Step 1: File a FAFSA at fafsa.ed.gov.

Step 2: If you are deemed eligible, you will need to submit an HPSL Verification Form. You may access the form through the My Finances section of CalCentral (students enrolled for spring and summer 2016, information available through MyFinAid at myfinaid.berkeley.edu).

Step 3: Once the HPSL Verification Form has been approved, you will be offered an HPSL Loan and notified of this offer via email.

Step 4: Accept your loan online.

Step 5: 1 to 2 business days after you accept your loan, you will receive an email from entrance_mpn@berkeley.edu advising you to complete several online processes.

Step 6: After receiving the email described in Step 5, complete Entrance Loan Counseling at financial counselor.

Step 7: After completing the Entrance Loan Counseling, you will automatically be routed to your Truth in Lending (TILA) documents and Master Promissory Note (MPN: if you completed an MPN in prior years, you won't have to do another one). If you try to complete this step before you receive the email described in Step 5, you will get an error message. If you get an error message, please wait to receive the email described in Step 5 and start again.

WHAT HAPPENS AFTER YOU DO YOUR PART

Berkeley will receive electronic notification from ACS of each completed online process within 1 to 2 business days.

There is a manditory 3-business-day waiting period from the time you view your Final Stage TILA Disclosure until Berkeley can pay your loan.

After these 3 days, and after verifying that you do not have any holds and that your student file is complete, the loan will disburse to your student account.

WHERE YOUR LOAN FUNDS GO

Your loan disburses to your student account and pays for any outstanding charges that you have.

If there are no outstanding charges on your student account when the loan is paid, or if your loan disbursement is larger than your total balance, you will receive a refund.

If you are going to receive a refund, you will get a notification from Billing and Payment Services.