|
|
|
Printer-friendly Adobe .pdf
Application Deadline for HEAL Loans
Bureau of Health Professions
Division of Student Assistance
May 22, 1981
To:
Lenders Participating in the Health Education Assistance Loan (HEAL)
Program
Subject: Application Deadline for HEAL Loans
It has recently come to our attention that HEAL lenders are rejecting
applications for HEAL loans because there is insufficient time for the
loan to be processed and disbursed before the end of the academic year.
Section 60.33 of the HEAL Regulations describes the process for making
application for a HEAL loan. The regulations do not contain a cutoff date
for making application for such a loan. Lenders may, however, establish
their own cutoff dates. It was expected that the amount of the HEAL loan
applied for would be based on anticipated educational expenses for either
the academic year, semester or quarter rather than after the expense that
had been incurred. However, since such situations have arisen, the Department
of Health and Human Services will insure loans if the student and
the student's institution complete their portion of the application form
before the end of the academic year and if it is clearly documented
that the loan is to pay educational expenses already incurred. The lender
must submit the application to the Department no later than 30 days after
the end of the academic year if it is operating under a Standard Insurance
Contract. In all cases, disbursements must occur no later than 60 days
for the end of the academic year.
We trust that this will clarify the Department's position on the application
procedure. Please contact the HEAL Program staff at (301) 443ยท1540 if
you have questions or need assistance.
Sincerely yours,
Michael Heningburg
Director
Division of Student Assistance
(Revised February 27, 1989)
|