Financial Aid

Financial Aid | Domestic Students

Gnomon participates in California State Grants (Cal Grants A, B, and C) and Title IV Federal financial aid programs (Pell and FSEOG Grants, Direct Loans, Work-Study). For qualifying individuals, State and Federal financial aid may be applied towards the Certificate in Digital Production for Entertainment (DP) program and the Bachelor of Fine Arts (BFA) in Digital Production degree program.

Federal and State financial aid can only be applied to certificate and degree programs and is not available to students enrolled in Foundation in Art & Design, Distance Education, or Individual Courses. Private credit-based education loans may be available for Foundation in Art & Design and Individual Course options. Private credit-based education loans are not available to Distance Education enrollees.

Please contact the Financial Aid Office at finaid@gnomon.edu or 323.466.6663 for more information.

Students interested in financial aid can start by completing the Free Application for Federal Student Aid (FAFSA). The FAFSA is the gateway to all Federal aid sources and covers July 1st of one (1) year through June 30th of the next. This is called an “award year.” The FAFSA must be completed each year in order for a student to continue to be considered. The FAFSA can be filed electronically at studentaid.gov.

Entering Gnomon’s school code (040764) will give the school access to an applicant’s FAFSA results. An FSA ID username and password are required, and this will act as the student’s electronic signature. Students will also be able to use this on all of the Federal Student Aid sites.

Within roughly 72 hours of submitting a FAFSA, Gnomon will receive a Student Aid Report (SAR). The SAR is a summary of information entered on the FAFSA and serves both for proofing the submitted information and as the student’s official receipt of FAFSA submission. If errors are noted on the SAR, they can be corrected online at studentaid.gov. Once the SAR is correct, contact the Financial Aid Office at finaid@gnomon.edu or by calling 323.466.6663 for information on how to proceed.

If a student obtains a loan to pay for an educational program, the student will have to repay the full amount of the loan plus interest, less the amount of any refund, and that, if the student receives federal student financial aid funds, the student is entitled to a refund of the moneys not paid from federal financial aid funds.

Financial Aid Programs

Here is a brief description of each type of aid offered.

Federal Pell Grant
Federal Pell Grants are based on financial need, cost of attendance, and student enrollment status. The maximum Federal Pell Grant award for the 2023-2024 Award Year is $7,395.00, the maximum Pell-eligible EFC is $6,656.00 with a minimum award for a full-time student of $767.00. The grant amounts are determined by the Financial Aid Office based on the results of the student’s FAFSA. The FAFSA must be received before or during enrollment. FAFSA’s received after withdrawal or completion of a program cannot be considered.

Federal Supplemental Educational Opportunity Grant (FSEOG)
FSEOG is another form of grant that is available to Pell grant recipients. Unlike the Pell grant, FSEOG is not an entitlement grant. Funds are allocated to Gnomon each year and are awarded until all funds are depleted.

Federal Direct Loans
Federal Direct Loans are for eligible students and parents to help pay for the cost of a student’s education after high school. The U.S. Department of Education is the lender and a loan servicer will be assigned to provide services to students on behalf of the U.S. Department of Education. For students considering a Direct Loan, please contact the Financial Aid Office for information on the two (2) part process. Federal Direct Loans are available in two forms, Subsidized and Unsubsidized, described below.

Direct Subsidized Loans
Students who demonstrate financial need, are not in default on a previous student loan, and are enrolled at least half-time (a minimum of six [6] credit hours) are eligible for a Direct Subsidized loan. The government pays the interest while the student is in school, during the six (6) month post-enrollment grace period, or in an applicable loan deferment status. The interest rate for Direct Subsidized loans first disbursed between 07/1/2023 - 06/30/2024 is fixed at 5.50%.

Direct Unsubsidized Loans
Direct Unsubsidized loans are not need-based, and the student is responsible for paying the interest that accrues while the student is in school, during the six (6) month post-enrollment grace period, or in an applicable loan deferment status. The interest rate for new Direct Unsubsidized loans first disbursed between 07/1/2023 - 06/30/2024 is fixed at 5.50%.

Direct PLUS (Parent Loans for Undergraduate Students) Loans
Parents can borrow on behalf of their dependent undergraduate students under this program. Because Direct PLUS loans are credit-based, they are not awarded or packaged automatically by the Financial Aid Office, although they may be included on estimated Mastersheets for review. The amount is determined by the Financial Aid Office each academic year, and it equals the student’s cost of attendance (tuition, fees and estimated living expenses, as needed) minus any financial aid (gross value) the student receives.

Between 07/1/2023 - 06/30/2024, the interest rate is fixed at 8.05%. Interest is charged from the date of the first disbursement until the loan is paid in full. Parents may defer repayment on a Direct PLUS loan until six (6) months after the student ceases to be enrolled at least half-time (a minimum of six [6] credit hours). Parents can also decide to pay accruing interest monthly or quarterly or allow the interest to be capitalized. For parents considering a Direct PLUS loan, please contact the Financial Aid Office for information on the two (2) part application process.

State Financial Aid Programs
State financial aid in the form of Cal Grants are offered for certificate and degree programs. To apply, students must complete a FAFSA and submit a GPA Verification Form by the March 2nd deadline each year. A student’s eligibility for one of the three types of Cal Grants will be determined by the California Student Aid Commission. Students who have a Bachelor’s degree are not eligible for a Cal Grant. Cal Grants come in three different types, A, B and C, described below.

Cal Grant A
Cal Grant A will help pay for tuition and fees. A GPA requirement of 3.0 is required if using high school transcripts; a 2.4 GPA is required if using a college GPA.

Cal Grant B
Cal Grant B will provide only an ‘annual Access Award’ for the student’s first year (which can be used to pay living expenses, books, supplies and transportation, as well as tuition and fees). After the first year, tuition and fee assistance will be included. The GPA requirement is at least a 2.0.

Cal Grant C
Specifically for certificate students, Cal Grant C will provide a books & supplies stipend (which can be used to pay living expenses, books, supplies and transportation, as well as tuition and fees) as well as reduced tuition and fee assistance for up to two years. There is no GPA requirement.

More information on the Cal Grant can be found here: http://www.csac.ca.gov/cal-grant-faq-0

Private Education Loans

In addition to offering federal financial aid options, Gnomon offers Private Education Loan options through College Ave and Sallie Mae to those who qualify.

Prior to submitting a loan application, students must speak with the Admissions and Financial Aid offices to determine eligibility. Typically, students must be US Citizens or Permanent Residents and must have good credit. A co-signer may be required.

Private education loans carry higher interest rates and fees than Federal loans and may have less attractive repayment terms. The information in your credit report (and that of any co-signer) will be used to determine your eligibility and will have an impact on the interest rate you qualify for.

Below is a link to FastChoice disclosures and information on the loan products offered by the lenders.

FastChoice

For instructions and more information on what is available, contact the Financial Aid Office at (323) 466-6663 or by email at finaid@gnomon.edu

Click here for more information on Gnomon's Title IV Code of Conduct.

Financial Aid | International Students

International students are not eligible for federal aid from the FAFSA. See below for the financial requirements for all international students and additional financial support offered to international students.

Financial Requirement | International Students

To ensure students from other countries will not have financial difficulties after they have begun their studies at Gnomon, the United States Citizenship and Immigration Service (USCIS) requires that all international students certify that they have the necessary funds available to cover tuition and estimated living expenses while studying in the U.S. Certification is required for each continuing year of study, based upon current tuition and estimated living expenses. Tuition is subject to change.

Based on the below per-quarter cost of attendance elements, proof of funding required for the 2024 calendar year is as follows:

• The BFA in Digital Production program requires a minimum of $88,529.00 USD per year in available funds.
• The 2-Year Certificate in Digital Production program requires a minimum of $100,676.00 USD per year in available funds.
• For applicants bringing dependents, additional proof of financial support is required. ($5,000.00 for spouse or per child)

Proof of Funding Statements must show the following:

• The financial institution's name and the account holder's (Sponsor’s) name
• The account balance
• The official financial statement date within the past 6 months (older statements will not be accepted)
• The type of currency
• A total balance that meets or exceeds the minimum amount required by the campus to cover the cost of attendance

All International students applying to a full-time program must provide proof of funding for the amount listed. All international applicants must secure any private scholarship or student aid funds before leaving the country of origin. Financial aid is not available from either the U.S. government or Gnomon.

For further instructions on submitting financial documents, please see the Certification of Finances form.