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Health Professions Loans
Your PROMISSORY NOTE is evidence that you received a loan. The note specifies your rights and responsibilities in detail and may include optional features such as a minimum repayment amount, late charges and collection charges. A copy of your promissory note will be provided by the lending institution (e.g., Ferris State University).
Health
Professions Loans - Promissory Notes & Disclosure Statements
After the Financial Aid office starts the awarding process for a new award
period (Summer or Fall/Winter academic year), the Loan Disbursement office will
send to the Health Professions Loan recipients (Pharmacy and Optometry students)
a return envelope and the following documents: - Promissory note,
- Disclosure statement,
- Rights and Responsibilities Questionnaire.
Before the loan can be applied to the student's account, the above listed documents
must be signed and the questionnaire must be completed IN
FULL. Once Health Professions Loan paperwork is received and verified
as complete, the process will be completed. The Health Professions loan will
be disbursed and placed on the student's account with the next application of
Financial Aid.
If the Health Professions Loan paperwork is not complete
or there is missing forms, the Loan Disbursement office updates the student's
account to indicate missing information. The Financial Aid office will send
out a Missing Information Letter (MIL) for the academic
year (Fall/Winter) semester only. For the Summer semester, the Loan Disbursement
office will notify the student of the missing information.
The student's permanent address will be used for
mailing purposes unless other arrangements have been made by the student with
the Business Office.
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