Perkins, Nursing and Nursing Faculty Loans
Perkins, Nursing and Nursing Faculty Loans
A Federal Perkins Loan is a low-interest (5%) loan for eligible undergraduate and graduate students with exceptional financial need. This is a campus-based program. Hawaii Pacific University is the lender on the Perkins Loan. This loan is made from federal government funds and Hawaii Pacific University funds.
If you qualify for a Federal Perkins Loan, the Financial Aid Office will notify you by mail of the amount of Perkins Loan funds for which you are eligible. You must complete and sign a Perkins Promissory note to receive your Federal Perkins Loan funds.
Under federal law, the authority for schools to make new Federal Perkins Loans ended on Sept. 30, 2017, and final disbursements were permitted through June 30, 2018. As a result, HPU is no longer able to award new Federal Perkins Loans to students. However, students must repay any previously disbursed Federal Perkins Loans according to their signed Master Promissory Note. Should you have any questions, please contact the Grants and Federal Aid department at email: gfa@hpu.edu
ENTRANCE INTERVIEW INFORMATION
Before you receive a Federal Perkins Loan, you are required by federal regulation to complete an entrance counseling session. The session will show you how to manage your student loans, both during and after college.
More information on borrower's responsibilities, Federal Perkins Loan, appears in the Federal Student Guide.
DISBURSEMENT INFORMATION
Perkins Loans are disbursed once all requirements have been met.
EXIT INTERVIEW INFORMATION
Before you graduate or drop below half-time attendance, you are required by federal regulation to complete an exit counseling session. The session will show you how to manage your student loans after college. HPU’s GFA Department and Heartland ECSI (HPU’s third party billing servicer) will contact you by emailing (your HPU email) a link to complete and sign your online Exit Interview.
More detailed information on borrower's responsibilities, Federal Perkins Loan, appears in the Federal Student Guide.
REPAYMENT OF PERKINS LOANS
Hawai‘i Pacific University uses a billing service provider (Heartland ECSI) to handle all Perkins accounts. This service allows you to view your account and make online payments. Loan account information is available on the Heartland ECSI website (https://heartland.ecsi.net/). You will need a heartland key in order to connect your Heartland ECSI account to your NFLP Loan.
For questions regarding your NFLP loan, please contact the Grants and Federal Aid (GFA) department at gfa@hpu.edu.
INTEREST
The rate of interest on the loan is 5% per annum on the unpaid balance. Interest does not accrue until the loan goes into repayment.
For more information on the Federal Perkins Loan Interest Rates, see the Federal Student Guide.
GRACE PERIOD, REPAYMENT, DEFERMENTS, AND CANCELLATIONS
Borrowers go into repayment once they graduate, withdraw, or fall to less than half-time and are given a nine-month grace period. Borrowers are given a six-month grace period at the end of a deferment. For more information on repayments, deferments and cancellations of Federal Perkins Loans, see the Federal Student Guide or contact the Grants and Federal Aid (GFA) department at gfa@hpu.edu.
LOAN CONSOLIDATIONS
For information regarding loan consolidations, see the Federal Student Guide.
COLLECTIONS
Hawai‘i Pacific University uses three outside collection agencies to collect on Perkins Loans. You may contact GENERAL REVENUE CORPORATION at 1-800-234-1472, TODD, BREMER & LAWSON, INC. at 1-800-849-6669 and COAST PROFESSIONAL, INC. at 1-800-231-0225 for more information and/or make a payment.
A Federal Nursing Student Loan is a low-interest (5%) loan for eligible undergraduate and graduate students with exceptional financial need. This is a campus-based program. Hawaii Pacific University is the lender on the Nursing Loan. This loan is made from federal government funds and Hawaii Pacific University funds.
If you qualify for a Federal Nursing Student Loan, the Financial Aid Office will notify you by mail of the amount of Nursing Loan funds for which you are eligible. You must complete and sign a Nursing Master Promissory note to receive your Federal Nursing Loan funds.
ENTRANCE INTERVIEW INFORMATION
Before you receive a Federal Nursing Loan, you are required by federal regulation to complete an entrance counseling session. The session will show you how to manage your student loans, both during and after college. Heartland ECSI (HPU’s third party billing servicer) will contact you by emailing (your HPU email) a link to complete and sign your Entrance Interview and Master Promissory Notes online.
More information on borrower's responsibilities, Federal Nursing Loan, appears in the Federal Student Guide.
DISBURSEMENT INFORMATION
Nursing Loans are disbursed once all requirements have been met.
EXIT INTERVIEW INFORMATION
Before you graduate, or drop below half-time attendance, you are required by federal regulation to complete an exit counseling session. The session will show you how to manage your student loans after college. HPU’s GFA Department and Heartland ECSI (HPU’s third party billing servicer) will contact you by emailing (your HPU email) a link to complete and sign your online Exit Interview.
More detailed information on borrower's responsibilities, Federal Nursing Loan, appears in the Federal Student Guide.
REPAYMENT OF NURSING LOANS
Hawai‘i Pacific University uses a billing service provider (Heartland ECSI) to handle all Nursing accounts. This service allows you to view your account and make online payments. Loan account information is available on the Heartland ECSI website (https://heartland.ecsi.net/). You will need a heartland key in order to connect your Heartland ECSI account to your Nursing Loan.
For questions regarding your Perkins loan, please contact the Grants and Federal Aid (GFA) department at gfa@hpu.edu.
INTEREST
The rate of interest on the loan is 5% per annum on the unpaid balance. Interest does not accrue until the loan goes into repayment. For more information on the Federal Nursing Student Loan Interest Rate, see the Federal Student Guide.
GRACE PERIOD, REPAYMENT, DEFERMENTS AND FORBEARANCES
Borrowers go into repayment once they graduate, withdraw, or fall to less than half-time and are given a nine-month grace period. Borrowers are given a six-month grace period at the end of a deferment. For more information on repayments, deferments and cancellations of Federal Nursing Loans, see the Federal Student Guide or contact the Grants and Federal Aid (GFA) department at gfa@hpu.edu.
LOAN CONSOLIDATIONS
For information regarding loan consolidations, see the Federal Student Guide.
COLLECTIONS
Hawai‘i Pacific University uses three outside collection agencies to collect on Nursing Loans. You may contact GENERAL REVENUE CORPORATION at 1-800-234-1472, TODD, BREMER & LAWSON, INC. at 1-800-849-6669 and COAST PROFESSIONAL, INC. at 1-800-231-0225 for more information and/or make a payment.
The purpose of the Nurse Faculty Loan Program (NFLP), which began in 2003 by the Health Resources and Services Administration (HRSA) Bureau of Health Professions, is designed to increase the number of qualified nursing faculty needed to address the current U.S. nursing workforce shortage. The program provides funding through the U.S. Department of Health and Human Services to schools of nursing, including the HPU School of Nursing, to support the establishment and operation of an NFLP loan fund. Qualified students may be enrolled full or part-time in advanced degree nursing programs. The NFLP offers partial loan forgiveness for borrowers who graduate and serve as full-time nursing faculty at an accredited school of nursing within nine months of graduation. Loan recipients may cancel up to 20% of the NFLP loan and interest per year for a maximum of 85% of the total NFLP loan in return for serving as full-time teaching nursing faculty in any U.S. accredited school of nursing.
- Provisions
- Recipients can receive financial awards for the academic year to offset a portion of the cost of tuition, books, fees, room and board, transportation, and other reasonable educational expenses as determined by the HPU Financial Aid & School of Nursing. Awards may be renewable for a maximum of five years and may not exceed $40,000 per student, per year. This program is contingent upon ongoing federal funding and therefore subject to change.
- Eligibility
- A U.S. citizen, national or lawful permanent resident. A student who is in the United States on a student or visitor's visa is not eligible for an NFLP loan.
- Committed to assuming a full-time faculty position in any U.S. accredited school of nursing.
- Good academic standing with a 3.0 cumulative GPA for the current degree program.
- Enrolled at least half-time (4-6 credits/semester) in a qualifying HPU School of Nursing program that offers an education component(s) to prepare qualified nurse faculty.
- In addition, a student must:
- Have a completed, appropriate year, Free Application for Federal Student Aid (FAFSA)on file with the HPU Office of Financial Aid
- Have no judgment liens entered against them based on the default of Federal debt, 28 U.S.C. 3201 (e)
- Agree that by applying for the loan, they give HPU permission to check their records on Federal Student Aid's National Student Loan Data System and the General Service Administration's Excluded Party List websites
If you are interested in the applying for the Federal Nursing Faculty Loan (NFLP), please fill out the online form and HPU’s School of Nursing Department will contact you regarding your application and the next phase of the loan process.
Should you have any questions, please contact the Grants and Federal Aid department at email: gfa@hpu.edu
ENTRANCE INTERVIEW INFORMATION
Before you receive a NFLP Loan, you are required by federal regulation to complete an entrance counseling session. The session will show you how to manage your student loans, both during and after college. Once HPU’s School of Nursing Department confirms your eligibility in the loan, Heartland ECSI (HPU’s third party billing servicer) will contact you by emailing (your HPU email) a link to complete and sign your Entrance Interview and Master Promissory Notes online.
More information on borrower's responsibilities, NFLP Loan, appears in the Federal Student Guide.
DISBURSEMENT INFORMATION
NFLP Loans are disbursed once all requirements have been met.
EXIT INTERVIEW INFORMATION
Before you graduate or drop below half-time attendance, you are required by federal regulation to complete an exit counseling session. The session will show you how to manage your student loans after college. HPU’s GFA Department and Heartland ECSI (HPU’s third party billing servicer) will contact you by emailing (your HPU email) a link to complete and sign your online Exit Interview.
More detailed information on borrower's responsibilities, NFLP Loan, appears in the Federal Student Guide.
REPAYMENT OF NFLP LOANS
Hawai‘i Pacific University uses a billing service provider (Heartland ECSI) to handle all NFLP accounts. This service allows you to view your account and make online payments. Loan account information is available on the Heartland ECSI website (https://heartland.ecsi.net/). You will need a heartland key in order to connect your Heartland ECSI account to your NFLP Loan.
For questions regarding your NFLP loan, please contact the Grants and Federal Aid (GFA) department at gfa@hpu.edu.
INTEREST
The rate of interest on the loan is 3% per annum on the unpaid balance. Interest does not accrue until the loan goes into repayment.
For more information on NFLP Interest Rates, see the Federal Student Guide.
GRACE PERIOD, REPAYMENT, DEFERMENTS, AND CANCELLATIONS
Borrowers go into repayment once they graduate, withdraw, or fall to less than half-time and are given a nine-month grace period. Borrowers are given a six-month grace period at the end of a deferment. For more information on repayments, deferments and cancellations of NFLP Loans, see the Federal Student Guide or contact the Grants and Federal Aid (GFA) department at gfa@hpu.edu.
Sample Cancellation:
|
Percentage of loan canceled for each continuous year of being a full-time teaching faculty member at any U.S. accredited school of nursing |
||
|
Year Teaching |
Amount forgiven |
Remaining balance |
|
1 |
20% |
80% |
|
2 |
20% |
60% |
|
3 |
20% |
40% |
|
4 |
25% |
15% |
LOAN CONSOLIDATIONS
For information regarding loan consolidations, see the Federal Student Guide.
COLLECTIONS
Hawai‘i Pacific University uses three outside collection agencies to collect on NFLP Loans. You may contact GENERAL REVENUE CORPORATION at 1-800-234-1472, TODD, BREMER & LAWSON, INC. at 1-800-849-6669 and COAST PROFESSIONAL, INC. at 1-800-231-0225 for more information and/or make a payment.