frequently asked questions

  • You must be a citizen or resident of the United States
  • You must be attending at least half time
  • You must be a matriculated student
  • You must meet academic guidelines

An independent student is someone who can answer yes to at least one of the following questions:

  • Are you at least 24 years of age?
  • Are you enrolled in a graduate program?
  • Are you married?
  • Do you have a child who receives more than half of his or her financial support from you?
  • Were you designated as a ward of the court before the age of 18?
  • Are you a veteran of the U.S. Armed Forces?

    In cases of extreme family circumstances, a student may petition the Financial Aid Office in writing for consideration to override the dependency status. Submitting the petition does not guarantee a of change of status.

An Award Letter is a breakdown of the financial aid offer for the academic year that The New York Conservatory will send you after you file your FAFSA.

This is a low-interest student loan for which the government pays the interest while you are in school and during grace and deferment periods. Direct Loans are the most common source of subsidized education loans.

This is a student loan for which the borrower pays the interest during the life of the loan. Direct Loans are the most common source of unsubsidized education loans.

The grace period is a set period of time after you graduate, leave school, or drop below half-time enrollment before you must begin repayment on your loan. The grace period gives you time to get financially settled and to select your repayment plan. Not all federal student loans have a grace period.

A deferment is a period during which repayment of the principal and interest of your loan is temporarily delayed. During a deferment, you do not need to make payments. What’s more, depending on the type of loan you have, the federal government may pay the interest on your loan during a period of deferment.

A forbearance is if you can’t make your scheduled loan payments, but don’t qualify for a deferment, your loan servicer may be able to grant you a forbearance. With forbearance, you may be able to stop making payments or reduce your monthly payment for up to 12 months. Interest will continue to accrue on your subsidized and unsubsidized loans (including all PLUS loans).

We offer pre-payment and extended payment plans for students whose scholarships and grants leave a remaining balance not covered by loans.