Applying for Financial Aid

You do not need to already be accepted into NYCDA to begin this process. In fact, the best time to apply for financial aid is when you are in the process of applying to the school.

  • Step 1. Obtain your Federal Student Aid ID (FSA ID)

    Apply for an FSA ID at the Department of Education’s FSA ID site here.

    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 applicable, parents should apply for their own FSA IDs.

  • Step 2. File your free application for Financial Aid (FAFSA)

    In order to fill out a FAFSA, you will need to create a FSA ID, which you can create here, if you do not have one yet.

    Once you have a FSA ID, visit www.fafsa.ed.gov and click on the “Start a New FAFSA” button. You will be prompted to fill in your FSA ID login information.

    The NYCDA School Code is: 031207

    If you are a new fall student, 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 NYCDA funds. Remember, 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.

    New students starting during terms other than fall may still file the FAFSA at any time. However, even though the application process is rolling, it is best to file as soon as possible to ensure that aid is delivered on time.

    Important Information for non-U.S. citizens:

    Non-U.S. citizen students are considered to be eligible for financial aid if one of the following conditions apply:

    • He or she is a permanent U.S. resident with an Alien Registration Receipt Card (“green card”), I-151 or I-551.

    He or she is a conditional permanent resident (I-151C).

    • He or she has an Arrival-Departure Record (I94) from the U.S. Immigration and Naturalization Service showing any one of the following designations: (a) “Refugee,” (b) “Indefinite Parole,” (c) “Humanitarian Parole,” (d) “Asylum Granted,” or (e) “Cuban-Haitian Entrant.
  • Step 3: If Applying for Loans, Complete Direct Loan Entrance Counseling
    Log on to: www.studentloans.gov
    Click on: Sign In (green box)
    Enter your log in information
    Click on: Complete Entrance Counseling (first option)
    Select I am An Undergraduate Student
    Select New York State
    Select New York Conservatory for Dramatic Arts

    Read all instructions carefully.

    Before receiving a student loan, all borrowers must complete an entrance counseling session. This quick and easy interactive counseling session provides useful tips and tools for managing educational expenses and loan responsibilities. This online entrance counseling session will take about 20–30 minutes to complete.

  • Step 4: If Applying for Loans, Complete the Direct Loan Promissory Note
    Log on to: www.studentloans.gov
    Click on: Sign In / My Profile (green box)
    Enter your log in information
    Click on: Complete Master Promissory Note (3rd option)
    Click on: Subsidized/Unsubsidized (1st option)
    Follow instructions given

    All new student loan borrowers must complete and electronically sign a new Direct Loan Master Promissory Note (MPN) with The Department of Education.

  • Step 5: Parents apply for a Direct PLUS loan (if applicable)

    If the application is denied, parents may apply with credit-worthy endorsers.

    Log on to: www.studentloans.gov
    Click on: Sign In / My Profile (green box)
    Enter your log in information
    Click on: Request a PLUS Loan (2nd option)
    Click on: Parent PLUS (2nd option)
    Follow instructions given
    Choose: New York Conservatory for Dramatic Arts
  • Step 6: Complete The Direct PLUS Master Promissory Note

    When approved for The Direct PLUS Loan, follow the instructions below:

    Log on to: www.studentloans.gov
    Click on: Sign In / My Profile (green box)
    Parent: Enter log in information
    Click on: Complete Master Promissory Note (3rd option)
    Click on: Parent PLUS (3rd option)
    Follow instructions given
    Choose: New York Conservatory for Dramatic Arts
  • Reminders

    Review Your Student Aid Report

    Carefully review the Student Aid Report, or 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.

    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, financial aid will be disbursed to your account.

  • 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.

  • Alternative Financing 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

    Outside Scholarships

    You may be eligible for a scholarship from an outside agency. Some sources to explore 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.

    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 in  the 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.

    Additionally, the Conservatory makes much of this information available at the Financial Aid Office.