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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 |
The North Carolina Student Loan Program for Health, Science and Mathematics (HSM) is awarded based on major, academic capabilities and financial need. Recipients must be legal residents of North Carolina for tuition purposes who have been accepted as full-time students in accredited associate, baccalaureate, master's or doctoral programs leading to degrees in specified health, science or mathematics-related fields (see Eligible Fields of Study).
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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 is $15,000.
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 |
Apply for the 2008-2009 HSM by clicking one of the application links in the Related Links section listed below. New applicants must complete the online application prior to May 1, 2008. Renewal Applicants must complete the application prior to April 1, 2008.
New and Renewal applicants must also complete the FAFSA for 2008-2009, which may be done electronically at www.fafsa.ed.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".
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| Related Links |
HSM Information, Resources and Area Shortage Lists
2008-09 HSM Application
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Health and Nursing Programs in North Carolina
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