The Financial Aid office can be reached at 888 645 0030 ext 4090 or via email at finaid@nycda.edu

The Conservatory participates in the U.S. Department of Education’s Title IV Federal Student Assistance Programs, as well as grant programs. In addition, we also provides institutional grants and scholarships to students who qualify.

There are many types of financial aid:

Grants:

Mary Doyle Grant

This award is based upon financial need, as demonstrated on the student’s Free Application for Federal Student Aid (FAFSA). Awards range from $2,000 to $3,000 for the academic year. To apply, a student must fill out a FAFSA by the given financial aid deadline of May 6, 2016. Funds are limited and are on a first-come, first-serve basis. Accepted students must reapply for the following academic year.

The Federal Pell Grant

This grant provides assistance to students who demonstrate financial need according to federal guidelines. Awards range from $598 per year to a maximum of $5,815 per year.

Federal Supplemental Educational Opportunity Grant (SEOC)

This program is funded by the U.S. Department of Education and administered by NYCDA to provide assistance to students with exceptional financial need. All students who qualify are automatically considered for this grant. Awards range from $350 to $700 per year.

New York State TAP Grant

This grant provides assistance to students who have either attended at least two semesters of high school in New York or have been New York State residents for at least 12 consecutive months before the term for which they are seeking assistance. Awards range from $500 to $5,165. The NYCDA TAP code is 7816. In order to qualify you must file a Free Application for Federal Student Aid (FAFSA) or apply here.

 

Scholarships:

The New York Conservatory has awarded more than $2,000,000 in institutional scholarships and grants, based on financial need and demonstration of extraordinary talent. Scholarships at NYCDA range from $1,000 to $15,000 per academic year. Most awards are renewed if the student is invited to return for the second year. Scholarships do not have to be repaid.

New York Conservatory Scholarships

The Sanford Meisner Scholarship is awarded based on the audition performance and academic achievement. Awards range from $11,000 – $15,000.

National Scholarship is awarded based on the audition performance. Awards range from $5,000 – $10,000.

Academic Scholarship is awarded based on academic achievement. Awards range from $5,000 – $10,000.

Merit Scholarship is awarded based on strong potential as a performing arts student. Awards range from $1,000 – $5,000.

Event Scholarship is awarded to students auditioning for NYCDA at regional and international theater conferences and competitions. Awards range from $5,000 – $15,000.

 

Some sources to explore for scholarships are employers, unions, professional organizations, and community and special interest groups. You must notify our financial aid office if you receive funds from any of these sources.

Loans

Direct Subsidized Loan

Direct Subsidized Loans are available to undergraduate students with financial need. Your school determines the amount you can borrow, and the amount may not exceed your financial need. The U.S. Department of Education pays the interest on a Direct Subsidized Loan while you’re in school at least half-time, for the first six months after you leave school (referred to as a grace period*), and during a period of deferment (a postponement of loan payments).

Loans first disbursed on or after 7/1/16 and before 7/1/17 have a fixed interest rate of 3.61%. There is a loan fee on all Direct Subsidized Loans. The loan fee is a percentage of the loan amount and is proportionately deducted from each loan disbursement. Loans first disbursed on or after October 1, 2015, and before October 1, 2016 are charged a 1.073% loan fee.

Direct Subsidized loans are federal student loans for eligible students to help cover the cost of higher education at a four-year college or university, community college, or trade, career, or technical school. The U.S. Department of Education offers eligible students at participating schools Direct Subsidized Loans.

Direct Unsubsidized Loan

Direct Unsubsidized Loans are available to undergraduate and graduate students; there is no requirement to demonstrate financial need. Your school determines the amount you can borrow based on your cost of attendance and other financial aid you receive. You are responsible for paying the interest on a Direct Unsubsidized Loan during all periods. If you choose not to pay the interest while you are in school and during grace periods and deferment or forbearance periods, your interest will accrue (accumulate) and be capitalized (that is, your interest will be added to the principal amount of your loan).

Loans first disbursed on or after 7/1/16 and before 7/1/17 have a fixed interest rate of 3.61%. There is a loan fee on all Direct Unsubsidized Loans. The loan fee is a percentage of the loan amount and is proportionately deducted from each loan disbursement. Loans first disbursed on or after October 1, 2015, and before October 1, 2016 are charged a 1.073% loan fee.

Direct Unsubsidized loans are federal student loans for eligible students to help cover the cost of higher education at a four-year college or university, community college, or trade, career, or technical school. The U.S. Department of Education offers eligible students at participating schools Direct Unsubsidized Loans.

Direct PLUS Loans for Undergraduate Students

The Direct PLUS Loan enables parents of dependent undergraduate students to borrow up to the full amount of an NYCDA education minus other aid. For PLUS Loans first disbursed before July 1, 2017, the interest rate is 6.31%. These are fixed interest rates for the life of the loan. There is a loan fee on all Direct PLUS Loans. The loan fee is a percentage of the loan amount and is proportionately deducted from each loan disbursement.

Additional Loan Options

A variety of private lenders also offer student loans to help cover tuition, housing, and fees not covered by other sources.

For students who are U.S Citizens or Permanent Residents, have 24 months of employment history and a satisfactory credit history:

The PNC Solution Loan

For students who are residents of New Jersey:

New Jersey Class Loan

For students from the state of Vermont:

The Vermont State Private Loan

For students who are residents of North Dakota, South Dakota, Minnesota, Montana, Wyoming or Wisconsin:

Dakota Education Alternative Loan (DEAL)

For Canadian students:

Canadian Loans

For students from the United Kingdom:

UK Professional and Career Development Loan

(Use the Learning Provider number 20111)

For students from India with a credit-worthy cosigner:

The Global Student Private Loan Corporation

 

The Direct PLUS Loan enables parents of dependent undergraduate students to borrow up to the full amount of an NYCDA education minus other aid. PLUS Loans first disbursed on or after July 1, 2015, and before July 1, 2016, and before July 1, 2017, the interest rate is 6.31%. These are fixed interest rates for the life of the loan. There is a loan fee on all Direct PLUS Loans. The loan fee is a percentage of the loan amount and is proportionately deducted from each loan disbursement.

Veteran’s Benefits

Veterans are eligible for a variety of benefits at NYCDA.

Yellow Ribbon Program

The Yellow Ribbon GI Education Enhancement Program (Yellow Ribbon Program) is a provision of the Post-9/11 Veterans Educational Assistance Act of 2008. It can help pay for up to 100% of a student’s out-of-pocket tuition and education-related expenses that exceed the Post-9/11 GI Bill® tuition benefit. NYCDA is offering up to 50 of these awards in 2015–2016, which can reach up to $16,000 per student.

All students seeking the Post-9/11 GI Bill® should complete VA Form 22-1990 and submitting it to the Department of Veterans Affairs for processing. Click here for more information.

Montgomery GI Bill® Active Duty (Chapter 30)

This program covers up to 36 months of education benefits for degree or certificate programs, payable for up to 10 years after active duty release. Click here for more information.

Montgomery GI Bill® Selective Reserve (Chapter 1606)

This program also covers up to 36 months of education benefits, payable for up to 10 years after active duty release from the Army, Navy, Air Force, Marine Corps, or Coast Guard Reserves. Click here for more information.

Reserve Educational Assistance Program (Chapter 1607)

This program covers up to 36 months of education benefits for members of the Selected Reserves, Individual Ready Reserve, and National Guard who have been called into active service. The amount of each award is based on a percentage of the Montgomery GI Bill® award and the number of continual days served on active duty. Click here for more information.

Veterans Educational Assistance Program (Chapter 32)

Veterans who saw active duty between January 1, 1977 and June 30, 1985 may find additional assistance in this program. Click here for more information.

Survivors’ and Dependents’ Educational Assistance (Chapter 32)

There are also education benefits specifically designated for the eligible spouses and children of veterans who are permanently disabled, deceased, missing in action, detained, or interned in the line of duty. Click here for more information.