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TUITION ASSISTANCE LOAN PROGRAM

USM's Tuition Assistance Loan Program (TALP) is intended to support students who are accepted into the two-year Spiritual Psychology Program and can demonstrate genuine financial need.

TUITION ASSISTANCE LOAN PROGRAM FEATURES

  • Interest free loans
  • In an amount up to $4,025
  • Favorable repayment terms
In order to be considered for a Tuition Assistance Loan, you must:

  1. Be accepted into the M.A. in Spiritual Psychology Program. To learn about the Admissions Process, click here.

    1.1.  As part of the Admissions Process, complete and submit your Registration including placing a one-month tuition deposit of $1,190.

    1.2.  Complete and submit your Application for Admission within 30 days, including official transcripts from all schools attended and three letters of recommendation with the Application fee.
  2. Upon receiving notification of acceptance into USM's Graduate Program, call the Admissions Team (310) 829-7402 or click here to e-mail a request for a Tuition Assistance Loan Program Application Packet. Complete the application packet in its entirety and submit it to the University as soon as possible.
  3. Tuition Assistance Loan applicants receive word regarding loan approval within 30 days of submitting a complete application packet, pending acceptance to the University.

TUITION ASSISTANCE LOAN PROGRAM POLICIES

  • If you receive a Tuition Assistance loan, you are responsible for repaying the loan amount plus any fees (if applicable).
  • Loan awards must be used in the same academic year in which they are awarded.
  • Loan recipients agree to maintain good academic standing through satisfactory academic progress in the Program.

FREQUENTLY ASKED QUESTIONS REGARDING THE TUITION ASSISTANCE INTEREST-FREE LOAN PROGRAM

1.    Who is eligible to apply for the Tuition Assistance loan?

2.    If I need tuition assistance, how can I know if I am eligible to receive a loan prior to
       registering as an applicant?

3.    What are the specific steps I need to take to apply for one of the Tuition Assistance loans?

4.    When should I apply for the Tuition Assistance loan?

5.    What is the Tuition Assistance loan amount that I can request?

6.    What is the loan period I should have in mind when applying?

7.    What specific educational expenses will the Tuition Assistance loan cover?

8.    What are the repayment terms for the Tuition Assistance loans?

9.    What if I cannot afford the monthly payments while I am in school?

10.  Are these loans available for Second Year?


TALP FAQs


1.   Who is eligible to apply for the Tuition Assistance loan?

You are eligible to apply for the Tuition Assistance loan if you are accepted into the two-year Spiritual Psychology Program and can demonstrate genuine financial need.

2.   If I need tuition assistance, how can I know if I am eligible to receive a loan prior to
      registering as an applicant?


USM's Admissions Team can support you in clarifying your potential eligibility to receive one of the Tuition Assistance loans.

3.   What are the specific steps I need to take to apply for one of the Tuition Assistance loans?

  • Complete your USM Application and receive notification that you have been accepted to the Program.
  • Upon receiving notification of acceptance into USM's Graduate Program, call the Admissions Team to request a Tuition Assistance Loan Program Application Packet.
4.   When should I apply for the Tuition Assistance loan?

Tuition Assistance Loan Program Application Packets are reviewed on a first-come, first-served basis. Because only a limited number of Tuition Assistance loans are available, you are encouraged to submit your completed application packet as soon as possible.

5.   What is the Tuition Assistance loan amount that I can request?

Tuition Assistance loans are for a maximum of $4,025.

6.   What is the loan period I should have in mind when applying?

The loans are for the academic year from October through August. If you request a loan once the academic year is in progress, the amount of the loan will be prorated for the time remaining in the academic year.

7.   What specific educational expenses will the Tuition Assistance loan cover?

The purpose of the loan is to assist you with paying your tuition. The loan proceeds will remain on account with USM and will be applied monthly to your tuition.

8.   What are the repayment terms for the Tuition Assistance loans?

While you are a student in USM's Master's Degree Program, the loans are repaid via monthly payments of $75, due on the first day of the month beginning the month after the loan has been disbursed, until you graduate from USM's two-year Program. After graduation, your payment will increase to $150 per month until the loan is paid in full. If you leave USM prior to graduation, your loan payment will immediately increase to $150 per month until the loan is paid in full. All loan payments must be made via automatic charge to a debit or credit card.

9.   What if I cannot afford the monthly payments while I am in school?

If the terms of the Tuition Assistance loan do not provide sufficient financial assistance to enable you to complete the Program, we encourage you to postpone your enrollment and use the time to strengthen your finances.

10.  Are these loans available for Second Year?

A limited number of Tuition Assistance loans may be available on a case-by-case basis for highly qualified Second Year students who demonstrate genuine financial need.

EMPLOYER ASSISTANCE WITH TUITION

Many employers underwrite programs to assist employees with their educational expenses. The University of Santa Monica encourages students to seek educational assistance from their employer. The University will gladly prepare any reports or other information necessary to meet the requirements of such programs.

VETERAN'S BENEFITS

The University of Santa Monica is approved to work with the U.S. Veteran's Administration (V.A.) to participate in the GI Bill Tuition Assistance Program for eligible active military, veterans, reservists, or dependents of a veteran. Please contact USM's Registrar's Office at (310) 829-7402 for more information.