The description of each loan type is intended to give you a brief summary of the terms and conditions of each loan to help you better understand your loan portfolio. Mandatory forbearance is available throughout residency period, renewable annually. Economic hardship is available for a three year limit, renewable annually. No interest accumulates during full-time student status, grace and deferment. Mandatory forbearance is available throughout residency period, renewable annually.
Economic hardship is available for a three year limit, renewable annually.
10 year repayment period Interest accumulates from the time the money is disbursed, throughout student status, grace and deferment periods. This is a need-based, subsidized loan . These loans are awarded by the school on behalf of the Federal Government, and are referred to as campus based loans. If borrower is approved for a deferment as soon as residency begins, they will get a full 9 month grace period following the end of the deferment. 10-25 year repayment, but must be repaid within 33 years of the time the first HEAL loan was actually borrowed.