Financial Aid
College is one of the most important investments a family can make, but very few families are able to cover 100% of the costs of tuition and living expenses on their own. Fortunately, there are many resources available to help. The vast majority of our students rely on at least one form of financial aid, whether it’s a scholarship, grant, loan or payment plan.
Steps to Financial Aid
Navigating financial aid is easier when you know the steps. From applying for FAFSA to receiving your award letter and exploring funding options, this guide will help you secure the financial support you need for your education.
Apply for FAFSA
Submit your Free Application for Federal Student Aid (FAFSA) to determine your eligibility for grants, loans, and work-study opportunities.
Receive Student Aid Report (SAR)
After your FAFSA is processed, you’ll receive a Student Aid Report (SAR) outlining the types and amounts of aid available to you.
Finance Your Education
Explore payment plans, scholarships, and additional funding options to cover your tuition and expenses.
Applying for FAFSA
The FAFSA (Free Application for Federal Student Aid) is the key to accessing grants, scholarships, work-study programs, and federal student loans. FAFSA determines your eligibility for various types of aid, so it’s important to complete it accurately and on time. Start your journey to affordable education by applying today!
1. Get Your Federal Student Aid ID (FSA ID)
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1. Get Your Federal Student Aid ID (FSA ID)
The FSA ID serves as your identifier so you can access your personal information in various U.S. Department of Education systems throughout the process. Because your FSA ID serves as your electronic signature, you should not give it to anyone. If your parents are considering taking a Direct PLUS loan, they should also apply for their own FSA IDs.
2. Create your Free Application for Financial Aid (FAFSA)
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2. Create your Free Application for Financial Aid (FAFSA)
Once you have a FSA ID, visit https://studentaid.gov/and click on the “Start a New FAFSA” button. You will be prompted to fill in your FSA ID login information.
Our School Code is: 031207
You can file the FAFSA as early as January 1 of the academic year in which you plan to enroll. You must file by May 6 to receive a financial aid package reflecting your maximum eligibility for Federal, and New York Conservatory funds. Some funds are dispersed on a first-come, first-served basis and will run out. Don’t miss out, file your FAFSA early.
FAFSA applications are processed on a rolling basis, but it may take up to 6 weeks to begin receiving aid. Best filing period: January 1 to May 6.
3. Review your Student Aid Report
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3. Review your Student Aid Report
Carefully review the Student Aid Report (SAR) that you receive from the U.S. Department of Education. The SAR may include important information about the status of your application, including missing information. If you file online, your SAR will come by e-mail.
Follow the instructions to make corrections if necessary, and then keep the final SAR for your records. Do this even if you are not eligible for the Federal Pell Grant.
Disbursement
Financial Aid is disbursed to students at the beginning of each term. Thereafter, NYCDA will disburse financial aid awards on a weekly basis, except during periods of non-enrollment and recess periods.
Documentation and Updates
Keep a copy of all documents that you submit to the Financial Aid Office. Be certain that you understand the conditions of the awards. Advise the Financial Aid Office immediately if you receive an award of financial aid from any other source. A change in your resources may affect your financial aid.
If Selected for Verification
The Federal Government and NYCDA randomly select some financial aid applications for verification. If your application is selected for verification, you will receive a letter containing a verification worksheet and instructions on how to submit the required documents. Once the verification process is complete, funds will be disbursed to your account.
Appeal
If a student applies for Federal financial aid and NYCDA denies their application, students have the right to appeal NYCDA’s decision. Appeal forms are available from our Financial Aid Office.
Consumer Information from the U.S. Department of Education
Many of the specific requirements to gain and retain Federal Aid are found in the publications provided by the U.S. Department of Education, and on their websites: studentaid.ed.gov and ed.gov
Types of Aid
Financial aid comes in many forms, from grants and scholarships to loans and work-study programs. Understanding your options can help you maximize free aid and minimize debt. Learn about the different types of funding available and find the best way to finance your education.
Scholarships & Grants
The New York Conservatory awards over two million dollars a year in direct aid to students. We offer four types of institutional aid.
Federal & State Grants
The New York Conservatory participates in the U.S. Department of Education’s Title IV Federal Student Assistance Programs and grant programs.
Outside Scholarships
There are thousands of companies and foundations that offer private scholarships based on a variety of criteria. Search for online for scholarships.
Federal & Private Loans
Federally-subsidized and private loans can help families close the gap between scholarships and grants, and the total cost of attendance.
Veteran's Benefits
Veterans and their families can access school funding to help pay for attending The New York Conservatory. Several veteran’s programs are available.
Payment Plans
When scholarships, grants and loans leave a remaining balance, The New York Conservatory may offer payment plans to ease the burden of payment.