Health Profession Loans
A Health Professions Student Loan is a low-interest loan available for students in medicine, dentistry, or pharmacy.
The interest rate on the Health Professions Loan is a fixed rate of 5% for the entire loan period.
Interest does not accrue on the loan as long as the borrower is a student and enrolled full time status.
Once enrollment drops below full time, a grace period of one year begins.
During this time, payments are not required and interest does not accrue.
For questions concerning Health Professions Student Loans please contact:
Student Account Services
Phone: (859) 257-3406
Health Professions borrowers are entitled to deferments, which allows temporary postponement of payments on the loan. The borrower must request a deferment in writing. Deferments that are available:
- Student deferments - are available to borrowers who are enrolled full time status in a health professions school and provide verification of enrollment to our office. A student deferment will be placed on the account and payments will not be due at this time.
- Military Deferment
- Internship or Residency Deferment
- Advanced Professional Training
- Peace Corps Deferment
- Temporary Disability Deferment
- Hardship - A period of hardship is available to assist borrowers that do not qualify for deferments. A hardship grants relief from making regularly scheduled payments but interest will accumulate during a period of hardship and must be paid before additional hardship is granted. The original repayment terms (10 years) will not be extended for periods during which hardship is granted, so it may be necessary to reschedule payments following the period of hardship so that the loan can still be repaid within the 10 year maximum repayment period.
The forms necessary to apply for deferment are available at:
Heartland ECSI: (888) 549-3274 Website: https://borrower.ecsi.net
Repayment of Health Professions Loans:
- Once the twelve months grace period ends, borrowers will start receiving bills for repayment of student loans. Notices will also be sent during the grace period.
- The bills will come from the University’s billing service, ECSI.
- Depending on the amount borrowed, minimum monthly payments will be calculated to ensure the loan is repaid within a ten-year maximum repayment period.
- There is no penalty for paying the loan off early.
- Please remember that the University of Kentucky is the lender of the loan and will remain so for the entire repayment period.
- If assistance is ever needed, please call Student Account Services at (859) 257-3406 or ECSI at 1-888-549-3274.
Consequences of Default
- Failure to remain current and in good standing with loans will result in a hold on official transcripts and future registration at the University of Kentucky.
- Late and collection fees will also be assessed any time the account becomes 15 days past due.
- Failure to keep the account current will result in negative credit reporting which is sent to all 3 national credit bureaus.
- Accounts that become 240 days past due are subject to acceleration of the balance and placement with outside collection agencies, which will add considerable collection fees to what is already owed.
- Student loans are not eligible for regular bankruptcy discharge.