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Loans for disadvantaged students are provided by the federal government. The famous loan is called Loan For Disadvantaged Students also simply known as LDS.

This LDS loan is a campus-based loan funded by the U.S. Department of Health and Human Services. This is a low interest loan provided for students who demonstrate financial need.

Students under this loan program must be enrolled in school for medicine, osteopathy, dentistry, pharmacy, podiatry, optometry or veterinary medicine.

A disadvantage student is a student who is coming from under privileged background that prohibits a student from obtaining the knowledge, skills and school.

Also, it could be a student whose family has an annual income below a level based on low-income thresholds according to family size published by the U.S. Bureau of the Census. This income is adjusted annually for changes in the Consumer Price Index. It is also adjusted by the Secretary of Health and Human Services for adaptation to this program.

You can check family income levels in the Federal Register in order to see if your family income qualifies.

Let SimpleTuition find the right student loan for you.

Besides family income levels and under privileged background, there are other eligibility requirements like:

  Citizenship
  National or a Lawful Permanent Resident of The United States or The District of Columbia
  You Must Not be in Default on Any Student Loan
  You Must Be Enrolled or Accepted As a Fulltime Student
  Parent Information Must Be Provided
  Available Resources From Student And Parent Are Used To Determine Need
  You Must Demonstrate Satisfactory Academic Progress
  You Must Certify That You Have Registered With Selective Service or That You Are Not Required to be Registered
  You Must Demonstrate Exceptional Financial Need

To Apply for the LDS loan the student needs to first complete the LDS Application form as well as the FAFSA Application. For consideration, the parental data must be included on the FAFSA regardless of independency status. Students must also submit copies of both their and their parents Federal Tax returns.

Loans For Disadvantaged Students can be made in amounts up to but cannot exceed the student's cost of attendance which includes items like: tuition, fees, health insurance, etc.

The Interest Rates are fixed at 5% for this loan. Interest does not accrue during periods of grace or deferment. Interest is capitalized upon repayment.

Standard Repayment Option is 10 years; repayment can be extended up to 25 years at the school's discretion.

Repayment begins after the one year grace period, which is a very long time. Grace period must expire before student is eligible for Student Loans Deferment.

Deferment length is unlimited while the student is in residency. The minimum monthly payment is $40. There is no penalty for prepayment or for making larger monthly payments than required in order to pay the loan off early. LDS loans are eligible to participate in Student Loan Consolidation programs.

Please visit Student Loans Repayment center for more loan repayments options and loan cancellation.

Other similar loans provided by U.S. Department of Health and Human Services is the Global Health Student Loan (GHELP).