Kaiser Permanente announces a loan program to assist new and continuing students in the Kaiser Permanente School of Allied Health Sciences. These guidelines describe loans available for students enrolled in the Diagnostic Medical Sonography program.
Loans of $9,000 or $18,000 are available to students in the Kaiser Permanente School of Allied Health Sciences (KPSAHS) to assist with the cost of tuition. Financial need is not a criterion for loan approval. Loans may be forgiven through qualifying employment with Kaiser Permanente within Northern California for a maximum of $3,375 forgiven per year of employment.
CAREFULLY READ the web site materials for full details on loan amounts, eligibility requirements, applicable deadline dates and Loan Disclosure Information.
This program is administered by Scholarship America®, the nation’s largest designer and manager of scholarship, tuition assistance and other education support programs for corporations, foundations, associations, and individuals. Awards are granted without regard to race, color, creed, religion, sexual orientation, gender, disability, or national origin.
All students admitted to the Kaiser Permanente School of Allied Health Science’s Diagnostic Medical Sonography program are invited to apply for a tuition assistance loan, provided they do not graduate before September 2020. Recipients must be enrolled full-time at KPSAHS, however, students are not required to obtain a loan in order to attend KPSAHS.
To apply, you must be a U.S. citizen or Permanent Resident. Non-U.S. citizens must submit a photocopy of their Permanent Resident Card. Student visas or temporary Employment Authorizations are not accepted (Applicants must be eligible for employment and must provide their Social Security Number.)
Students in the 18-month Diagnostic Medical Sonography program must submit their applications by 3:00 pm CT on March 30, 2020.
Applicants will be notified of their status approximately 6 weeks after the submission deadline date for their specific program of interest.
Each award year, loans will be disbursed In two payments of $4,500 each. Loan checks will be made payable to the recipient and mailed to their home address .
To receive loan checks, recipients must:
Eligible recipients already participants of this program and who have successfully completed their first year at KPSAHS will be invited to continue their tuition assistance funding. Loan award continuation information will be emailed directly to eligible recipients provided they do not graduate before September 2020. Therefore, continuing recipients should not complete this online form.
LOANS WILL BE ARRANGED OR MADE PURSUANT TO THE CALIFORNIA FINANCING LAW LICENSE
Loan Forgiveness or Repayment
Loans may be forgiven through qualifying employment with Kaiser Permanente within Northern California for up to a maximum amount of $3,375 per year of employment. Recipients must work in the specialty for which they received their loan in order to earn forgiveness and must obtain employment at Kaiser Permanente within 6 months of their graduation date otherwise loan forgiveness cannot occur.
All loan recipients are encouraged to apply for qualifying positions following graduation, however, Kaiser Permanente does not give preference to loan recipients in the hiring process. All applicants for employment, including current or prior employees of Kaiser Permanente, are subject to normal hiring practices and must meet all eligibility requirements set by Kaiser Permanente, including a physical examination and a criminal background check.
Applicants should not rely on the potential for loan forgiveness in determining whether they will be able to meet loan repayment obligations. Recipients who fail to maintain satisfactory academic progress, who do not obtain a qualifying position, or otherwise do not qualify for loan forgiveness must repay the loan under the terms set forth in the loan agreement. This includes a six-month interest-free grace period following graduation and a ten percent (10%) rate of interest thereafter. The loan may be prepaid without penalty.
Kaiser Permanente reserves the right to review the conditions and procedures of this financial aid program and to make changes at any time including termination of the program.
Submission of the application does not constitute an entitlement or a legally-enforceable right to a loan. By submitting the application, the applicant agrees to accept the decisions of Scholarship America and Kaiser Permanente as final. Such decisions do not grant a right of appeal. Loan applicants must submit the application by the published deadlines. Scholarship America and Kaiser Permanente take no responsibility and grant no exceptions for errors in delivery or non delivery by the postal service.
It is recommended loan recipients consult a tax advisor to discuss the tax implications of both loan repayment and forgiveness. For example, the IRS currently considers loan forgiveness to be taxable income for the year in which it is earned. Loan recipients are responsible for the payment of all such income taxes, and Kaiser Permanente may be required to withhold from recipients’ payroll checks an amount sufficient to cover such taxes. In addition, the IRS considers interest paid on student loans to be tax-deductible under certain circumstances.