Arkansas College Grants and Loans

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Arkansas College Grants and Loans

Arkansas Grants

Arkansas Student Assistance Grant Program This program was repealed by the Arkansas Legislature during it's 2005 session.

Arkansas Aspiring Scholars Matching Grant Program The program was authorized by ACT 597 of 2007. $250,000 has been provided for the first two years of the pilot program. The Grant will provide matching funds in the state's 529 plan for qualifying families. Both the account holder and the beneficiary must be Arkansas residents. Families with an Adjusted Gross Income (AGI) of $60,000 or under will qualify for a 1-1 match up to $500 per year. Those with an AGI of $30,000 or below will qualify for a 2-1 match up to $500. For this year, families must sign up by April 30.

Arkansas Health Education Grant Program (ARHEG) This program provides assistance to those who are pursuing training in various health related fields such as chiropractic medicine, dentistry, optometry, osteopathic medicine, podiatry, and veterinary medicine to allow them to study at out of state schools.

Arkansas Loans

Arkansas Edloan For Teachers and Nurses Due to market conditions the EdLoan program has been suspended until further noticeThe Arkansas EdLoan is a special student loan repayment program for Arkansas educators and nursing professionals. It offers a 3% repayment interest rate reduction on qualifying loans as well as a 1% reduction if payments are automatically deducted from your bank account. Check the Arkansas EdLoan webpage for more details.

Arkansas Rural Medical Practice Student Loan Program This program provides loans to Arkansas residents studying at the University of Arkansas College of Medicine. Applicants must be interviewed and approved by the Rural Practice Student Loan and Scholarship Board. Students can borrow up to $12,000 per year (or the amount of their financial need, whichever is less) and the loans are renewable. The loans are repaid by practicing full-time primary care medicine in an Arkansas rural community. The Board will convert to a scholarship grant, each year's loan plus accrued interest, for each year spent in full time primary care pracice. Further years loans will be converted similiarly, one year of service for each year of assistance, until the loan obligation is retired. Visit the University of Arkansas for Medical Sciences website for further details.

More information on these programs can be found at the Arkansas Department of Higher Education's Financial Aid page.

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