Financial Aid
Title IV Stafford Loans
FAFSA
Federal Stafford Loans
Veterans Benefits
Canadian Student Loans
International Students
Alternate Resources
Searching for Aid
Contact Financial Aid Office
The ITP Financial Aid Office is here to assist with students' education by helping to apply for Federal Stafford loans, ITP and outside scholarships. We want to make this process as easy as possible so you can concentrate on your studies.
There is also much useful information on the internet. Some sites you may want to explore are:
Student Aid on the Web U.S. Department of Education's page on Student AidFree Application for Federal Student Aid (FAFSA) A form required for all Federal aid
Great Lakes Financial Aid Help FinAid.org Financial Aid Guide
FastWeb Financial Aid Search
Financial aid is available to all eligible students. There are several financial aid sources available to qualified students:
To apply for Title IV Aid On-line:
When you apply for admission
Complete the FAFSA* on the Department of Education web site.
After you receive an award letter from the school which details the amount you are eligible to borrow, first complete your on-line Master Promissory Note (MPN)*. Second, complete Entrance counseling*.
If additional living expenses are needed, please apply online through
GradPlus (it is advised that you consult with the Financial Aid Director for the loan amount prior to application).
When you graduate or leave school:
Complete Exit counseling*.
Check your Total loan balance*.
*All outside links will launch a new browser window.
Not all students will qualify for all aid programs.
Title IV Loans
The Institute participates in the Federal Student Financial Aid Program (Title IV) Stafford Loan Program. Aid received through this program is a loan that must be repaid with interest at the time of withdrawal or graduation from school.
Initial Application - The FAFSA
The first step in applying for virtually every form of financial aid available at the Institute is to complete the Free Application for Federal Student Financial Aid (FAFSA). The Institute's identification number is G22676.
It is highly recommended that you complete the FAFSA on-line through the U.S. Department of Education web site.
To complete the FAFSA, you will need:
your previous year's tax return (or W-2 forms if you are not required to file a return);
W-2 forms and other records of money earned in the previous year;
records of untaxed income such as welfare, social security, AFDC or ADC, or veterans benefits;
current bank statements;
current mortgage information;
business and farm records;
records of stocks, bonds, and other investments;
driver's license and social security card.
A paper version of the application is also available; however, the on-line version includes a checking system which catches common errors. The turnaround time for the electronic version is also significantly faster.
The SAR
Upon completing the FAFSA, a Student Aid Report (SAR) will be generated for you. The Institute will draw down an electronic version of the SAR which will contain a figure called the EFC. This figure will be used to determine your eligibility for most forms of aid.
Stafford Loans
The Stafford Loans are the primary source of financial assistance available to Institute students. Stafford Loans are made by private lending institutions using funds guaranteed by regional guarantee agencies. The program was created by an act of Congress and is regulated by the U.S. Department of Education. It is open to all US Citizens and Permanent Residents enrolled at least half time in the Residential or Global Program.
There are two types of Stafford Loan available, subsidized and unsubsidized. Subsidized loans are need based loans. Interest payments on subsidized loans are paid to the lender by the Department of Education while the student is enrolled in school. Unsubsidized loans are available to all eligible students regardless of need. Interest which accrues on the loan while the student is enrolled is the responsibility of the student.
Deadlines
Applying for a Stafford Loan takes approximately two months. Students should apply for financial aid at the earliest opportunity. Applications for financial aid may begin prior to acceptance to an Institute program.
Global students should submit the FAFSA and the Institute application at least two months prior to their expected start date. Residential students should submit all application materials no later than August 15th to receive funds by the start of the fall quarter. Applications received after the 15th will be processed as time permits; however, funds may not be available until after tuition is due.
Repayment Chart
Remember that your loan will enter repayment six months after you graduate or withdraw from school. Don't borrow more than you need.
| 8.25% Interest | ||
Total All Loans |
Monthly Payment |
Total Interest |
|---|---|---|
$8,500 |
$98 |
$3,587 |
$18,500 |
$227 |
$8,729 |
$27,000 |
$325 |
$12,316 |
$37,000 |
$451 |
$17,270 |
$55,500 |
$669 |
$25,614 |
$74,000 |
$902 |
$34,540 |
If you would like to try out numbers that are more tailored to your specific needs, we have a monthly payment calculator.
Annual Loan Limits
Graduate students are eligible to borrow up to $20,500 through the Stafford Loan program per year. At least $12,000 of this will be in the form of an unsubsidized loan.
Deferral of Prior Student Loans
If you currently have outstanding student loans, consult your loan servicer to determine if you may defer payment while you are in school. Student enrollment status is reported regularly to the National Student Loan Database. Loan servicers collect information from this database; however, some require that you specifically request deferment.
More Information
If you would like more information about the Stafford program, you may request The Student Guide to Financial Aid from the Financial Aid Office or directly from the Department of Education web site, or call them at (800) 433-3243.
If you have served in the US armed forces at any time during your life, you may be eligible to receive education benefits.
Eligible veterans may receive benefits for work in Residential degree programs only. Eligible degree programs are:
Doctor of Philosophy in Transpersonal Psychology
Doctor of Philosophy in Clinical Psychology
Master of Arts in Transpersonal Psychology
Master of Arts in Counseling Psychology
Your eligibility will vary according to your period of enlistment, length of service and program in which you enroll. Only students in Residential degree programs are eligible to receive VA benefits.
For more details about Veteran's Benefits, visit the Department of Veteran's Affairs web site or contact their Information Hotline at (800) 827-1000.
Canadian Student Loans & Grants
The Institute has been determined to be an eligible institution of higher learning for government sponsored financial aid in all Canadian Provinces and Territories.
Eligible Canadian students should contact the Ministry of Education in their home Province for details concerning application procedures.
Where available, the provincial Ministry of Education link appears below.
British Colombia
Manitoba
New Brunswick
Newfoundland
Nova Scotia
Nunavut
Ontario
Prince Edward Island
Quebec
Saskatchewan
Northwest Territories
Yukon
Alternate Financial Aid Resources
While the federal government is the primary source of educational funding in the US, a multitude of other resources exist. Some other areas to investigate for school funding include the following. Religious, Social and Professional Organizations If you are a member of a religious organization (church, synagogue, mosque, etc.), a community organization (Rotary Club, Elks, Moose, etc.) or you have been a member of a professional organization, ask if they offer any student assistance programs and if so what are the award criteria.
Employer
Some companies offer tuition reimbursement for employees. Consult your Human Resources or Benefits Office to see what programs might be available to you.
Alternate Loans
The Institute maintains a portfolio of alternate lending programs. These programs are offered through private lenders to students. Generally, the terms of these loans are not as favorable as the Stafford Loan programs. The Institute portfolio strives to maintain a diverse collection of the most favorable alternate sources for financial assistance. Consult the Institute Financial Aid Office for information about the availability of alternate lenders. Participation in an alternate loan program requires additional financial counseling. Alternate loan applications will not be processed without this debt counseling.
International Student Information
International students may apply for financial aid. For more information, please contact (650) 493-4430 or by email. There are other considerations, such as transcript evaluation, income, and the Test of English as a Foreign Language. Please click here to view a rundown of those requirements.
World Wide Web
While federal Title IV financial aid accounts for most student assistance, there are a wide variety of sources for students seeking financial aid. At times, the prospect of the search may seem overwhelming. The best place to begin is with a focused search emphasizing your own individual identity and experiences.
The following site contains a wealth of information about financial aid, including scholarship search engines:
The Financial Aid Information Page
Scholarship searches are available through fastweb.
For additional information about Stafford Loans, including repayment calculators, visit:
Great Lakes
ED FUND
Student Loan XPress
Scholarship Search Services
The Institute recommends against using any scholarship search service which charges a fee. It is our experience that these services generally do not provide any information which was not accessible to the student using other free sources.
Stafford Loan Entrance Counseling
Students who borrow under the Federal Family Education Loan Program for the first time at the Institute are required to complete counseling before their loan proceeds can be released.
You may complete your counseling requirements by clicking on the links below. If you have any questions as you complete the counseling requirements, you may contact the financial aid office at 650-493-4430 extension 241. Click below to enter your counseling session.
For Entrance Counseling:
For Exit Counseling:
Contact the Financial Aid Office
Josie Melton x 241
Financial Aid Director
financial_aid@itp.edu