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NC Student Loan Program for Health, Science and Mathematics
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| Program Type |
Scholarship-Loan
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| Description |
This program was established in 1945 to provide encouragement and financial assistance to qualified North Carolina residents pursuing degrees or other recognized credentials in selected health, science and mathematics programs.
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| Eligibility |
Applicant must meet the following eligibility requirements
- Be residents of the state of North Carolina for tuition purposes
- Have been accepted as full-time students in accredited associate, baccalaureate, master's or doctoral programs leading to degrees in specified health, science, or a mathematics-related field (see Eligible Fields of Study).
- Demonstrate financial need
Students may attend a North Carolina institution or an eligible out-of-state institution. Award recipients are chosen according to major, academic capabilities, and financial need.
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| Value |
Associate Degree/Certificate Programs: $3,000 per year. Maximum loan amount is $6,000 for two years if unconditionally accepted into a specific program discipline.
Baccalaureate Degree/Certificate Programs: $5,000 per year for two years, with possible third clinical year. Maximum loan amount, for two years, is $10,000.
Master's Degree Program: $6,500 per year in two-year programs. Maximum loan amount is $13,000.
Health Professional/Doctoral Programs: $8,500 per year. Maximum loan amount is $34,000 in programs requiring four years to completion.
A recipient must enroll full-time for both the fall and spring semesters. One half of the award is made available to the recipient in the fall semester and the remainder in the spring semester. The scholarship-loan is renewable. Funding for the program is contingent each year upon appropriations made available to the State Education Assistance Authority by the General Assembly.
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| Application Procedure |
| 2009-10 Academic Year:
Apply for the 2009-2010 HSM Scholarship Loan by clicking the corresponding application link in the Related Links section listed below. Applicants must complete the application by May 1 for priority consideration. Applications will be processed in order of receipt until funds have been exhausted. New and Renewal applicants must also complete the FAFSA, which may be done electronically at www.fafsa.gov. It is not necessary to forward a copy to NCSEAA.
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| Other Information |
The HSM recipient enters into a contract with the State of North Carolina to work full-time in approved employment within the state of North Carolina in the field for which he/she was funded. One calendar year of full-time employment in a designated shortage area is required for each school year a loan is received. Approved service areas include state facilities and educational systems, or designated healthcare and veterinary science disciplines. Service repayment must be completed within ten years following graduation. The interest rate for cash repayment is 4% while in-school and 10% when out-of-school.
If you have questions regarding the HSM Scholarship Loan that have not been answered on this site, please contact the NCSEAA directly at (800) 700-1775, select option "1" or in the Research Triangle Park area at (919) 549-8614, select option "1".
Repayment: The interest rate is 10%. Cash repayment on an installment basis begins 90 days or less after completion of coursework or licensure. Under specified conditions, loan recipients in qualifying disciplines may have their loans canceled through service in North Carolina.
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| Related Links |
HSM Information, Resources and Area Shortage Lists
Health and Nursing Programs in North Carolina
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