KGI provides basic financial information as part of the consumer information, school disclosure requirements as mandated by the U.S. Department of Education.
KGI provides basic financial information as part of the consumer information, school disclosure requirements as mandated by the U.S. Department of Education. Schools are required to disclose information and reports on various aspects of the institutions policies, procedures, operations, and costs. A detailed listing of all consumer information disclosures can be found here.
KGI offers various types of financial assistance to students enrolling in degree and certificate programs. To view the specific financial assistance offered and how to apply, please learn more about types of funding.
Continued Eligibility Criteria:
The various forms of aid administered by the KGI Financial Aid Office are credited directly to the student account to offset billed tuition and fees. There are institutional and federal guidelines for checking eligibility prior to disbursement. If you have any outstanding documents that need to be completed in order to disburse your aid, they will be listed on the student portal. When students are registered and meet requirements for disbursement, aid will be disbursed as follows:
Being delinquent or defaulting on a loan may affect many areas of your life:
There are many places to find outside scholarships. If you belong to clubs and organizations, please speak to their main office for scholarship information. Please follow us on Twitter for outside scholarship opportunities.
There are several searchable external scholarship databases provided online. The following are some examples of scholarship search engines which may help you during your search:
If you receive financial assistance from private sources such as external donors, company tuition remission, VA Education Benefits, these funds will need to be reported to the Financial Aid Office. This would include outside scholarships, tuition assistance, or educational benefits awarded within the academic year. The total amount received from all resources plus the Federal Loans cannot exceed the student’s cost of attendance.
In efforts to lower educational loan debt, it is our policy to apply all financial assistance toward the Graduate PLUS Loan should the amount requested is up to the student’s cost of attendance within their overall financial aid package.
Federal Work-Study is a federal financial aid work program funded by Keck Graduate Institute and the United States Department of Education. Federal Work Study awards are part of federal financial aid packages and are only available to U.S. citizens and permanent residents. Generally, F-1 or J-1 students are not eligible for a Federal Work Study position and should not apply. KGI administers this program in accordance with the laws, federal regulations, and instructions issued by or on behalf of the Department of Education, as well as its own institutional policies. KGI’s Federal Work-Study Program is administered without regard to race, creed, color, sex, non-disqualifying disability, or national or ethnic origin.
For additional information concerning KGI’s Federal Work-Study Program, contact the KGI Financial Aid Office at firstname.lastname@example.org or 909.607.8258.
Exit Counseling is required when you graduate, leave school, or drop below half-time enrollment. The minimum hours or credit hours you need to be enrolled to be eligible for a federal student loan. Exit counseling provides important information you need to prepare to repay your federal student loan(s).
You’ll need to provide the name, address, e-mail address, and telephone number for your closest living relative, two references who live in the U.S., and current or expected employer (if known).
Access Exit Counseling.
After you graduate, leave school, or drop below half-time enrollment, you may have a period of time before you have to begin repayment. This “Grace Period” will be six months for Federal (FFEL) or Direct Subsidized/Unsubsidized Loans.
(If you’re a parent reading this and you have a FFEL or Direct PLUS Loan, you don’t have a grace period. Repayment generally must begin within 60 days after the loan is fully disbursed unless you’ve requested that the payments be deferred until after your student graduates.)
The government pays the interest on Direct Subsidized Loans, and no payment is required while you’re enrolled in school at least half-time.
If you have a Direct Unsubsidized Loan, no payment is required while you’re enrolled at least half-time, but interest accrues from the time the loan is first disbursed. You have the option to make interest-only payments while in school, or to defer payments until you graduate or are no longer enrolled at least half-time. If you choose to defer payments, interest will capitalize, which means the interest will be added to the principal of the loan.
For Alternative/Private Education Loans, depending upon the lender, you may have payments due even while you’re attending school.
If you can make payments while you’re in school and during your grace period, it’s a good idea. You will save money on interest charges and you will have less to repay after graduation.
If you have taken out a Federal Student Loan, Loan Exit Counseling is required when you graduate or leave college to help you understand your rights and responsibilities as a borrower. Your loan provider will notify you of the date loan repayment begins and contact information. Remember, you are still responsible for repayment, even if you don’t hear from your lender.
Paying Back Your Loan
You have a choice of repayment plans if you received a FFEL or a Federal Direct Loan. Your monthly payment will depend on the size of your debt and the length of your repayment period. The links listed below under “More Resources” may provide available repayment options, including examples of monthly payments for different loan amounts, and other topics you need to consider when managing your loans. The importance of making your full loan payment on time either monthly (which is usually when you’ll pay) or according to your repayment schedule cannot be emphasized enough. If you don’t, you could end up in default, which has serious consequences. Student Loans are real loans, just as real as car loans or mortgages. You have to pay back your student loans.
Postponing Federal Student Loan Payments
Under certain circumstances, you can receive a deferment or forbearance that allows you to temporarily postpone or reduce your federal student loan payments. Postponing or reducing your payments may help you avoid default. For more information on postponing your Federal Student Loan payments, go to Federal Student Aid – Deferment and Forbearance.
Federal Loan Consolidation
A Direct Consolidation Loan allows you to consolidate (combine) multiple federal education loans into one loan. Consolidating your federal education loans can simplify your payments, but it can also result in loss of some benefits. Before consolidating your loans, you should weigh the pros and cons and decide whether a Direct Consolidation Loan is right for you. To learn more about Federal Loan Consolidation, go to Federal Student Aid – Loan Consolidation.
Federal student loan forgiveness, cancellation, or discharge allows some or all of your federal student loan debt to be forgiven depending upon your employment circumstances. See below for other types of loan forgiveness.
AAMC State and other Loan Repayment and Forgiveness Programs
Available to students in the College of Osteopathic Medicine, as well as students in the Master of Social Work, Physician Assistant and Dental Hygiene programs.
Public Service Loan Forgiveness
The Federal Public Service Loan Forgiveness (PSLF) Program was established by Congress as part of the College Cost Reduction and Access Act of 2007 to encourage individuals to enter into and continue to work full-time in public service jobs. Under this program, borrowers may qualify to have the remaining balance due on their eligible federal student loans forgiven after making 120 qualifying monthly payments while employed full-time by certain public service employers. If you are or plan to be employed by a government or not-for-profit organization, you may be able to receive loan forgiveness under the Public Service Loan Forgiveness Program. To learn more about this program, go to Federal Student Aid – Forgiveness, Cancellation, and Discharge.
State Loan Repayment Program (SLRP)
The National Health Service Corp’s State Loan Repayment Program, or SLRP, grants full or partial student loan forgiveness to students who work in a Health Professional Shortage Area (HPSA).
Program benefits and qualification requirements differ from state to state, so you’ll need to check with your state of residence, or the state where you plan to live after graduation for more information.
How to apply: Visit the Health Resources and Services Administration website to look up state loan repayment program options, eligibility requirements and application requirements for your state.
NHSC Loan Repayment Programs
In addition to SLRPs available through the National Health Services Corps, the organization also offers two other loan repayment programs that might work for pharmacists.
NHSC Substance Use Disorder (SUD) Workforce Repayment Program: Qualifying pharmacists may be eligible for up to $75,000 in loan repayment funds after working at least three years at an NHSC-approved substance disorder treatment facility.
NHSC Rural Community Loan Repayment Program: Pharmacists may qualify for up to $100,000 in student loan repayment in exchange for a full -time commitment to work at least three years at a rural NHSC-approved substance disorder treatment facility.
How to apply: You can submit an application with the National Health Service Corps. Both of the programs above use the same application. However, you have to choose which program to apply for, as you can’t receive loan repayment benefits from both.
National Institutes of Health Loan Repayment Program
The National Institutes of Health Loan Repayment Program seeks to attract high-quality healthcare professionals to careers in biobehavioral research. The programs also aim to entice medical research professionals to remain in those positions.
Eligible pharmacists in research positions may be able to receive up to $50,000 per year of student loan repayment. In return for this financial incentive, you must commit to engage in NIH “mission-relevant” research.
How to apply: You can review the application requirements and apply for an NIH Loan Repayment Program via the National Institutes of Health website.
Indian Health Service Loan Repayment Program
Pharmacists who work at (or are interested in working at) a health facility that serves American Indian or Alaska Native communities may be eligible for partial or full student loan forgiveness through the Indian Health Service Loan Repayment Program. Up to $40,000 of initial loan repayment benefits are available to pharmacists and other healthcare professionals through the program.
To qualify, you must make an initial two-year commitment to serve in a qualifying health facility. But you may be eligible to extend your contract beyond the first two years and qualify for more funding each year until you wipe out all of your qualifying educational debt.
How to apply: You can fill out and submit your Loan Repayment Application online via the Indian Health Service website.
Get Your Federal Student Loan Information
The U.S. Department of Education’s studentaid.gov site allows you to access information on loan and/or federal grant amounts, your loan status (including outstanding balances), and disbursements made. Go to https://studentaid.gov/h/manage-loans to log in and view your information.
Since federal student loans are usually less expensive and offer better terms than private student loans, you may want to consider exhausting your eligibility for federal student loans before resorting to private student loans.
Federal Student Aid
US Department of Education
In cases of withdrawal, KGI reduces tuition, fees, fellowship awards, and eligibility for student loans according to the schedule below. Date of withdrawal is defined as the date that the KGI Academic Affairs Office receives a signed statement of withdrawal from the student. Reductions of student loans are returned directly to the lenders of the funds in compliance with U.S. Department of Education requirements for calculating refunds of federal student loans in cases of withdrawal from an academic program.
Note: If a student has already received checks from KGI for credit balances on student tuition accounts before withdrawal, the student will be required to reimburse KGI for all or part of the original credit balances. Please see the section on financial aid.
Return of Title IV funds (R2T4) requirements govern the return of “unearned” federal student aid when a student withdraws from all Title IV courses before completing a term.
When distributing student financial assistance, the federal government assumes students will complete the entire academic term for which they’ve received aid. After withdrawing, students typically become ineligible for the entire aid package the institution originally awarded them. Therefore, when a student withdraws, the institution must report it and determine how much Title IV aid that student “earned” using R2T4 calculations.
Schools determine the “earned” and “unearned” portions of Title IV aid as of the student’s withdrawal date using a prorated schedule for the first 60 percent of the term. However, if the academic term is more than 60 percent completed at the time the student withdrew, then the student has “earned” 100 percent of the Title IV funds he or she was slated to receive during that period. After calculating the student’s earned Title IV aid, the institution must return the unearned portion that the school is responsible for and notify the student of any amount that he or she must return.