Missouri Department of Higher Education

Missouri Department of Higher Education

Missouri's designated secondary market and student loan servicer, MOHELA, used to offer low cost alternative loans.

In February 2008, MOHELA announced that it was suspending its low cost alternative loan program as well as its' consolidation program.

The Missouri Department of Higher Education was the state's designated guaranty agency for Federal Family Education Loan Program (FFELP) loans. As this program no longer exists, the Department only oversees those FFELP loans that were taken out before the 2010-2011 school year.

Repay Student Loans

The Health Professional Loan Repayment Program

• repayment of outstanding educational loans in exchange for providing primary health care services in areas of need in Missouri
• for full-time emoloyed primary care registered nurses, primary care advanced practice nurses, primary care physicians and dentists in Missouri
• will repay student loans at the rate of: $5,000 per year for primary care registered nurses; $10,000 per year for primary care advanced practice nurses; and $25,000 per year for primary care physicians and dentists

List of Scholarships that May Become Loans

• for residents enrolled full-time in a four-year teacher education program
• award is for a one-time, non-renewable award of $2000
• recipients must commit to teach for 5 years in Missouri or pay back the award

Missouri Minority Teaching Scholarship

• for minority residents enrolled in approved teacher education programs
• award is a renewable award of $3000 for up to four years
• recipients must commit to teach for 5 years in Missouri or pay back the award

Urban Flight and Rural Needs Scholarship Program

• for residents enrolled full-time in a Missouri four-year teacher education program
• award is tuition and fees up to four years in a Missouri college or university
• recipients must commit to teach for 8 years in Missouri or pay back the award

The Primary Care Resource Initiative for Missouri (PRIMO)

• for residents enrolled full-time in a Missouri school offering a course of study leading to a degree as: A Doctor Of Allopathic Medicine (M.D.), A Doctor Of Osteopathic Medicine (D.O.), A Doctor Of Dentistry (D.D.S.); or a B.S. or A.A. degree in a field leading to acceptance in a school of medicine or dental hygiene
• awards range from $5,000 per year for 4 years for undergrads to 20,000 per year for graduates
• forgiveness requires recipients to practice in Missouri at a rate of one year for each loan if less than 5 years of loans were used; loans for more than 5 years will be forgiven at a rate of 20% per year
• students have the option of repaying the loans at an interest rate of 9.5 % from disbursement for a repayment period of 5 years.

Health Professional Nursing Student Loans

• for residents accepted into an approved nursing program
• award is $2,500 for LPN students per year and $5,000 for professional nursing students
• forgiveness requires recipients to practice in Missouri at a rate of one year for each loan if less than 5 years of loans were used; loans for more than 5 years will be forgiven at a rate of 20% per year
• students have the option of repaying the loans at an interest rate of 9.5 % from disbursement for a repayment period of 5 years.

Missouri Grants, Missouri Scholarships

Missouri Access Grant

• Requirements
• an EFC of 12000 or less
• Missouri resident
• fulltime undergraduate at a qualifying Missouri school
• no BA completed (or the requirements for one met)
• file FAFSA by April 1
• not enrolled in a degree program in theology or divinity
• Awards
• for a 4 year school (public): $2,150 per year max- reduced to $950 for the 2010-2011 school year
• for a 4 year school (private): $4,600 per year max- reduced to $1,900 for the 2010-2011 school year

Missouri also has merit-based scholarships which do not ever need to be repaid. The Bright Flight Scholarship Program gives students $2,000 per year for tuition if they are in the top 3% of the class and score a 31 on the ACT.

[COMPENSATED AFFILIATE LINK] 10% off PrepMe online ACT, PSAT, and SAT preparation: code PREPCJ10. Buy now; get guaranteed results!