Standard Eligibility Examples for the 2009/2010 FAFSA
The intent of this information is to give basic scenarios of how aid may be applied towards tuition. All federal aid is contingent upon a completed and valid FAFSA application as well as meeting all eligibility requirements. To determine eligibility complete the FAFSA. Below are examples of standard eligibility.
Maximum Federal Aid Eligibility for Master Recording Program II
(Includes both Academic Years, fees charged by lenders will be added to balance due.)
Maximum Pell Grant for 2009/2010: $5,350
Dependent Student Eligibility:
With Maximum Pell Grant
$4,625 Subsidized Stafford
$2,500 Unsubsidized Stafford
$5,350 Pell Grant*
$ Plus Loan** |
Without Pell Grant
$4,625 Subsidized
$2,500 Unsubsidized Stafford
$ Plus Loan** |
*Pell Grants do not have to be paid back; they are awarded based on financial need
**Parent PLUS loans are available to eligible borrowers to assist with tuition payment and if approved, the balance may be fully covered (must reapply for second academic year funding).
Visit www.fafsa.ed.gov to determine dependency status.
Independent Student Eligibility:
With Maximum Pell Grant
$4,625 Subsidized Stafford
$7,500 Unsubsidized Stafford
$5,350 Pell Grant* |
Without Pell Grant
$4,625 Subsidized Stafford
$7,500 Unsubsidized Stafford |
*Pell Grants do not have to be paid back; they are awarded based on financial need
-All Loans must be repaid. Stafford Loans are not based on credit and have a standard 10 year repayment term.
-The Conservatory’s Master Recording Program II spans two Academic Years, which dictates how Federal Aid is earned and applied towards tuition charges.
-Students are required to pass all classes to maintain full Federal Aid eligibility.
Additional options include:
Private Educational loans are available to eligible borrowers who meet lender requirements. Students may seek and apply for private educational loans to cover their balance.
An interest free payment plan is available upon request.
In addition to Federal Financial aid many other types of aid are available. Students are encouraged to search for scholarships online and through their community to assist in tuition payment.
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