Professional Financial Assistance Programs

A federal student loan, made through the William D. Ford Federal Direct Loan Program, for which eligible students borrow directly from the U.S. Department of Education at participating schools. Direct Unsubsidized Loans, Direct PLUS Loans and Direct Consolidation Loans are types of Direct Loans.

Unsubsidized Direct loans are loans for which the borrower is fully responsible for paying the interest regardless of the loan status. Interest on unsubsidized loans accrues from the date of disbursement and continues throughout the life of the loan. Repayment for this loans begins after graduation or when the student drops below part-time. The student has up to 10 years to repay this loans.

Additional Information:

Student must be enrolled at least half time (3 credit hours for graduate students)
Annual limit is $20,500
Current fixed interest rate is 6.54% as of 7/1/22
Current origination fee is 1.057% as of 10/1/22 (this fee is deducted up front and thus lowers the actual net amount of each disbursement that appears on your tuition bill)
Rates may change depending on legislation so please visit the Federal Student Aid Interest website for the most current information
Lifetime limit is $138,500 for graduate or professional students—No more than $65,500 of this amount may be in subsidized loans. The graduate aggregate limit includes all federal loans received for undergraduate study.
Loans are disbursed at the start of each academic term
If the interest is capitalized (allowed to accumulate) it will be added to the principal amount of the loan and will increase the amount the borrower will have to repay.
If the choice is made to pay the interest as it accumulates, the total interest charges paid during repayment will be considerably less. Payments would be made directly to your federal loan servicing company. Information on how to contact your specific company is available under the “Manage Loans” menu on the federal website.

Students can accept or decline their federal direct loans online through the Student Financial Services section of the Student Financial Services Portal. (instructions to accept or decline your student loans can be found in SFS Self Service Guide.) In order to receive funding from the Federal Direct Subsidized/Unsubsidized Loan program, you must complete Entrance Counseling and sign a Master Promissory Note (MPN) . These requirements must be completed before funds will be released from the federal loan center. These steps are further explained in detail within the portal. We also encourage student to also complete the Annual Student Loan Acknowledgement, even though it is not necessary to take out your loans. Students wishing to modify and accept only part of the federal direct loans offered will need to complete the Federal Direct Student Loan Form.

A Federal Direct PLUS loan is a non-need based federal loan program. A loan made by the U.S. Department of Education to credit-worthy graduate or professional students for which the borrower is fully responsible for paying the interest regardless of the loan status. Please refer to the PLUS Loan section of the Federal Student Aid website an Office of the U.S. Department of Education for a more detailed explanation, available at https://studentaid.gov/understand-aid/types/loans/plus

You must file a FAFSA in order to receive the PLUS Loan. Then you must apply for the PLUS Loan at https://studentaid.gov/app/launchPLUS.action?plusType=gradPlus each year

Student Eligibility

* US Citizen or eligible Non-US Citizen
* Not in default on prior educational loans
* Meets federally defined creditworthiness standards
* Enrolled at least half time (3 credit hours for graduate students)

Additional Information

This loan is not need based.
You may not borrow more than the cost of attendance per term minus any other financial aid received (such as grants, scholarships, or loans – including Direct Unsubsidized loans). High Point University will determine the actual amount you may borrow.
Current fixed interest rate is 7.54% as of 7/1/22
Current origination fee of 4.228% as of 10/1/22 (this fee is deducted up front and thus lowers the actual net amount of each disbursement that appears on your tuition bill)
Rates may change depending on legislation so please visit the Federal Student Aid Interest website
Loans are disbursed at the start of each academic term.
If the interest is capitalized (allowed to accumulate) it will be added to the principal amount of the loan and will increase the amount the borrower will have to repay.
If the choice is made to pay the interest as it accumulates, the total interest charges paid during repayment will be considerably less. Payments would be made directly to your federal loan servicing company. Once the loan has disbursed you can sign onto the National Student Loan Database online at nslds.ed.gov with your FSA ID.

Visit our Apply for PLUS Loan page under All Students in the left hand menu for step-by-step instructions.

Repayment Terms

Interest begins to accumulate upon the first disbursement. Repayment begins 60 days after the final disbursement during the academic year in which the loan is disbursed, or you have the option of deferring the loan payments until you graduate, withdraw, or drop below half-time enrollment status. You will be responsible for repaying both the principle and accumulated interest. The maximum repayment period is generally 25 years.

Students who are non-degree seeking or who are seeking teacher certification after graduation are only eligible for alternative loans in most cases.

If your financial assistance package does not cover your expenses, you have the option of applying for an alternative or private (nonfederal) student loan. Some private lenders offer credit-based loan programs to creditworthy students and/or students with creditworthy cosigners. Interest rates, loan fees and other specifics of such loans should be carefully evaluated. Before pursuing private alternative loans, students and parents should ALWAYS pursue Federal loans first; if additional funding is needed, students should consider a Federal PLUS Loan or the tuition payment plan before pursuing alternative loans.

If students decide to use private alternative loans, they must apply for these loans in enough time for them to use the funds to pay the High Point University charges by the due date. Private alternative loan lenders will require a creditworthy cosigner. This can be a spouse, parent, another adult relative, or other person who meets the lender’s requirements for the loan. A cosigner will be responsible for the loan if the student does not pay it back. Students who apply for a private alternative loan must complete a Self-Certification Form and submit it to the lender prior to loan approval.

The Office of Student Financial Planning will assist families in understanding and pursuing this lending avenue but cannot be responsible for the actual application. Below are several common private lending options utilized by High Point University students and families. Utilize the link provided to find out specific information and complete an on-line application if interested.

Because of the uncertainty of the current credit markets and the inability of certain lenders to secure private alternative loan funding, the pool of lenders willing and able to make private alternative loans is shrinking.

In order to consider a private alternative loan as payment toward the Student Accounts bill, the student must have received final approval from the lender. Processing time varies from lender to lender, but the average approval time is two to four weeks if everything is submitted in a timely manner. Be sure to allow enough time for processing.

Please refer to our Code of Conduct regarding Educational Loans.

Click below to easily compare and apply for Alternative Loans:

Forgivable Education Loan for Service (FELS) Program

Established by the North Carolina General Assembly in 2011, the FELS program provides financial assistance to qualified students enrolled in an approved education program and committed to working in critical employment shortage professions in North Carolina. The North Carolina State Education Assistance Authority provides administration for the program. At High Point University eligible degree programs include the Doctorate in Pharmacy, the Doctorate in Physical Therapy and the Master of Physician Assistant Studies.

Eligibility:
A recipient must meet the following eligibility criteria to be considered for FELS:

Be a legal North Carolina resident and NC resident for tuition purposes
- You must complete the questionnaire on the Residency Determination System (RDS) website for the State of North Carolina at ncresidency.cfnc.org/residencyInfo/home.The RDS will ask you to provide your social security number as an identifier to be able to verify information with federal and state agencies to determine residency status. You will also be asked to provide residence information, federal and state tax return information, vehicle registration and driver’s license information. Once you start the RDS interview you will have 25 days to complete the interview, otherwise it will be cancelled and you will have to start again. Once the interview is complete the system will immediately let you know whether or not you have NC residency status. You will also receive a Residency Certification Number (RCN) that is a unique 10 digit identifier that serves as proof that you have completed residency determination. Once you have a determination made through the RDS website, it will last as long as you remain continuously enrolled at High Point University.
- RDS must be completed within 45 days of the start of the academic term for a student to receive funding.
At the time of application, present a cumulative minimum grade point average (GPA) of 3.2 for students pursuing a graduate or professional degree
Register with Selective Service System, if required
Recipients must not be in default , or does not owe a refund, under any federal or state loan or grant program
Maintain Satisfactory Academic Progress (SAP) accordingly to the policy of the institution
Be willing to work in NC in a designated critical employment shortage profession

Value:

Master’s degree programs can receive up to $10,000 annually (which is awarded half in the Fall term and half in the Spring term) with a maximum aggregate limit of $20,000.
Doctoral degree programs can receive up to $14,000 annually (which is awarded half in the Fall term and half in the Spring term) with a maximum aggregate limit of $56,000.

Recipients must sign a promissory note agreeing to repay the loan by working in an approved position in North Carolina in their approved field of study. One loan will be forgiven for one year of full-time employment in a qualified position OR one loan will be forgiven for two years of part-time employment in a qualified position. Applications and all additional information are available online at www.CFNC.org/FELS. Please note that the application opens the first business day in January and the deadline is March 1st each year. Applications will be entered into a lottery for award consideration.

National Health Service Corps Scholarship

This opportunity is available to accepted Physician Assistant students.

The National Health Service Corps (NHSC) scholarship is a competitive program that pays tuition & fees, provides a monthly living stipend and pays a lump sum amount for books to students enrolled in an accredited medical (MD or DO), dental, nurse practitioner, certified nurse midwife, and physician assistant training programs. Upon graduation, scholarship recipients serve as primary care providers between 2 and 4 years in a community-based site in a high-need Health Professional Shortage Area (HPSA) that has applied to and been approved by the NHSC as a service site. Awards are made to applicants most committed to serving under-served people, most likely to build successful careers in HPSAs, and meet future needs for care throughout the nation. Application instructions can be found at the NHSC website nhsc.hrsa.gov/scholarships

Note: Candidates must be accepted for enrollment or enrolled in a program on or before September 30 in order to apply for the scholarship. Because the High Point University PA program enrolls in June, our students are eligible to apply during their first year of enrollment. For example, a HPU PA student could apply as early as March of their first year and if awarded the scholarship begin receiving funding for July of their first year. Students will not actually receive funding until the beginning of November during the first year. Please reach out to the Office of Financial Planning for more information about how this program will effect your financial aid awarding process.