This document is meant to help get you started in your student loan application and disbursement process
This document is meant to help get you started in your student loan application and disbursement process 08 May Student Loan Quick Guide The information provided is by no means exhaustive and you should always reference both provincial and national student loan websites for the most up to date information. This document is designed for residents of Nova Scotia (you or a parent has lived in Nova Scotia for a minimum of 12 months leading up to your application). For non-Nova Scotian students, your student loan application must be done through your province of residence’s student loan website. 1. To begin the student loan application process, we suggest that you familiarize yourself with student loan policies, your responsibilities, repayment, etc. This information can be found here: 2. Once you familiarize yourself with student loan, you can begin the process by creating a MyPath account. This can be done by using the following link and clicking on the yellow MyPath icon on the left side menu: 4. Fill out the account form and proceed to the next steps of the application process. Be sure to note the email used, your social insurance number and password as you will need this information to login to access payday loans Florida no credit check information regarding your student loan later. 6. Student loan can come back to you requesting more information or supporting documents at any time. Please keep on top of these requests as the sooner you can complete your file, the sooner your loan will be disbursed to you and the school. For this reason, it is recommended that you check your MyPath account regularly (we suggest at least twice a week). 7. Once you receive the first portion of your loan, you can log into your MyPath account to complete your prestudy report. This must be done in order for the second portion of your student loan to be disbursed. Student Loan Quick Guide Student loans are typically received in two disbursements one at the beginning of your program and one mid-way through your program. Just because someone you know or a family member was not approved for a student loan, it doesn’t mean your application will be denied. A number of different criteria are considered when determining loan approval. In applying for a student loan, you are also assessed for non-repayable government grants, which can help fund your education Once fully complete, the application typically will be approved in approximately 10 business days. Tuition is paid to HDC directly through student loan. Additional funds will be deposited into your bank account approximately 1-3 weeks after we confirm your loan. Example: You are awarded $7,000 for your first loan disbursement. The first tuition payment for your program is $5,000. Student loan pays HDC directly for the $5,000 and the remaining $2,000 will be deposited into your bank account 1-3 weeks after the loan is confirmed for living expenses, equipment, etc. **These amounts are not accurate and are used only for the purposes of the example** Kits are not included in tuition. This means that student loan does not pay for kits directly. Private payment must be arranged for kit payments on or before the first day of classes. Any tuition not covered by your student loan is due through a private payment, so be sure to budget for this from the beginning of your program. You can keep in contact with student loans to learn whether this applies to you. We will communicate with you through email if there are issues with us receiving your student loan. Please ensure that...
read moreU.S. military repayment programs for medical loans
U.S. military repayment programs for medical loans With the Indian Health Service (IHS) Loan Repayment Program, eligible clinicians can receive up to $40,000 toward their educational debt in exchange for a two-year commitment to serving American Indian and Alaska Native communities. With this program, your contract can also be extended annually until all your student loan debt is satisfied. State-specific student loan forgiveness programs If you don’t qualify for federal or national loan forgiveness programs, you s. You can do an internet search to see what loan repayment programs might be available in your specific state. Here are two examples: Georgia Physician Loan Repayment The Georgia Physician Loan Repayment Program is one of several programs offered by the Georgia Board of Health Care Workforce. This program offers $25,000 each year for an initial two-year contract to physicians practicing family medicine, internal medicine, pediatrics, OB/GYN, geriatrics, or psychiatry. To qualify, physicians must practice in a health professional shortage area in a rural Georgia community. To learn more about physician loan repayment programs in Georgia or to apply, visit the Georgia Board of Health Care Workforce website. Maryland Loan Assistance Repayment for Physicians In exchange for a two-year service commitment to a health professional shortage area or medically underserved area, Maryland-licensed physicians may receive up to $50,000 per year toward their student loan debt. This program is available to physicians, physician assistants, and medical residents within their last year of residency. Many education benefits are available to U.S. military members, including repayment programs for those choosing a career in medicine who wind up with student loan debt. Air Force Health Professions Loan Repayment The Air Force Health Professions Loan Repayment Program offers $40,000 per year for up to two years (for a online payday loans Florida total of $80,000) in exchange for a two-year, active-duty commitment. It’s available to service members in various health professions, and can be used toward loan payments, interest, and other education or living expenses. Keep in mind that about 25% in federal income taxes will be taken out of the loan repayment funds before they’re disbursed. Army Health Professions Student Loan Repayment The Army Health Professions Student Loan Repayment Program is available to active-duty or reserve Army service members who work as a doctor, dentist, or other healthcare professional. If you qualify, you can receive up to $40,000 per year for as many as three years – for a total of $120,000 – toward your medical student loan debt. National Guard Health Care Professional Loan Repayment In exchange for a seven-year commitment to the National Guard, you can receive up to $250,000 toward your medical education debt. This is broken down as $40,000 per year for the first six years and $10,000 for the seventh year (with a lifetime cap of $250,000). This program is offered to healthcare providers in the Medical and Dental Corps, but may also include physician assistants, social workers, and veterinarians, depending on the year. Navy Health Professions Loan Repayment The Navy Health Professions Loan Repayment Program is available to new recruits, as well as existing, active-duty Navy service members. It offers up to $40,000 per year toward student loan debt (minus 25% for federal taxes, taken prior to disbursement). To be eligible, you must be fully qualified, in your last year of residency, or enrolled full-time in your last year of study and working toward a medical, dental, or osteopathic degree. You must also be qualified for (or already hold) an appointment as a commissioned officer. Consider refinancing your medical school loans If you’ve considered all other options for repaying or...
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