Eligible to apply for all programs outlined on this page (except TAP*):
*TAP - Tuition Assistance Program (you must be a New York resident to apply for the TAP Program)
Eligible to apply for Manhattan School of Music Scholarship/President's Award.
All international students must be prepared to meet the costs of education and living expenses in this country with personal or family funds, as it is unlikely that any scholarship and/or loans for which you may be eligible will be enough to cover all expenses associated with your cost of education.
MSM Scholarship is awarded to approximately 50% of our full-time enrolled students. Manhattan School of Music Scholarship is awarded by our Scholarship Committee and is based upon recommendations from faculty at entrance auditions, analysis of family income and assets, and the academic performance of the student. Renewal of Manhattan School of Music Scholarship is based on criteria as determined by the school.
The President's Award is awarded on the same basis as above to no-need, high-merit students. Awards are renewable based on criteria as determined by the school.
Pell Grants are funded by the federal government and are designed to provide financial assistance to undergraduate students with exceptional financial need pursuing their first undergraduate degree. The EFC (Expected Family Contribution) found on the Student Aid Report (SAR) determines the amount of the award.
SEOG awards are provided by federal and institutional funds and are restricted to undergraduate students with exceptional financial need. Pell Grant recipients have first priority. Awards can range from $100 to $4,000 per year and are dependent on the allocation the school receives from the federal government. Typically, awards range from $500 to $2,000 at Manhattan School of Music.
The Federal Work-Study Program (FWS) provides jobs for students with demonstrated financial need, allowing them to earn money to assist with personal and living expenses. Students are paid bimonthly for work performed on an hourly basis. Individual awards are dependent upon total allocation from the federal government but are generally about $1,500. A Work-Study directory listing all available positions is compiled by the Office of Financial Aid and is available in early September. Reconsideration forms are available at the end of September to redirect any Work-Study funds that may become available due to students who have declined their award.
**** Manhattan School of Music previously processed Federal Stafford and Federal PLUS loans through the Federal Family Education Loan program (FFEL), in which students and parents borrowed from private lenders and banks. Beginning in Fall 2010 all schools are required to exclusively participate in the William D. Ford Federal Direct Loanprogram, based on the passed Student Aid and Fiscal Responsibility Act ("SAFRA") legislation, in which borrowers obtain loan funds directly from the U.S. Department of Education.
The Federal Perkins Loan is a low-interest (5%) loan for undergraduate and graduate students with exceptional financial need. The maximum annual award is $4,000. Manhattan School of Music is the lender of the funds. The number and amount of the award depend on the collection activity (former students repaying their loans) of the previous year.
Stafford Loans are either subsidized or unsubsidized. A Subsidized Stafford Loan is awarded on the basis of financial need. Principal and interest are deferred as long as a student maintains at least half-time enrollment. Eligibility for the Unsubsidized Stafford Loan is not based on a family’s demonstrated need. Unsubsidized loan interest payments accrue while the student is enrolled, and it is the responsibility of the student to either pay the interest quarterly or capitalize (defer) the interest. Students accepting their Stafford Loan(s) on their award letter will have their loan data electronically transmitted.
All first-time borrowers are required to sign a Master Promissory Note (MPN) and complete an entrance interview before funds can be released. All returning and new borrowers must return a signed copy of the financial aid award letter. Once these items are completed, your loan will be set for disbursement on dates established by Manhattan School of Music. Your funds will be electronically transmitted to Manhattan School of Music and will be applied to your account within three business days.
Undergraduate Borrower Limits-For subsidized Stafford Loan, freshmen undergraduates may borrow up to $3,500 per year; sophomores, up to $4,500 per year; and junior and seniors, up to $5,500 per year. All undergraduate students are eligible for a $2,000 Unsubsidized Stafford Loan. Additionally, independent undergraduates can borrow an Unsubsidized Stafford in the following amounts: $4,000 for freshmen and sophomores and $5,000 for juniors and seniors. Also, dependent students whose parents are denied a PLUS (Parent Loan) are eligible for the additional unsubsidized amounts.
Graduate Borrower Limits - Graduate students may borrow up to $8,500 in Subsidized Stafford and up to $12,000 in Unsubsidized Stafford. Graduate students who show no-need may borrow up to $20,500 in Unsubsidized Stafford Loan.
PLUS Loans are federal loans available to help parents with the expenses of dependent undergraduate students. Graduate students may also apply for the Grad PLUS Loan in their own name. PLUS Loans are available up to the cost of education minus any aid received. The maximum amount is determined by Manhattan School of Music. A credit check determines initial eligibility. This credit check may be performed prior to actually applying. Both the loan applicant and the Office of Financial Aid at Manhattan School of Music will be notified of the credit check results. We will then initiate the certification process for approved applicants. Applicants will have their loan data electronically transmitted.
All first-time borrowers are required to sign a Master Promissory Note (MPN) and complete an entrance interview before funds can be released. All returning borrowers are only required to apply and complete a credit check. All returning and new borrowers must return a signed copy of the financial aid award letter. Once these items are completed, your loan will be set for disbursement on dates established by Manhattan School of Music. Your funds will be electronically transmitted to Manhattan School of Music and will be applied to the student's account within three business days. If there are excess loan proceeds after all billed charges have been satisfied, we will ask you if you want those funds released to you, the student, or held for future charges. Visit the Direct Loan website and complete the required steps >
TAP is for undergraduate students. By completing the FAFSA, you will be initiating the application process. You will receive your preprinted application directly from NYS Higher Education Services Corporation. Once the state budget has been finalized (over the summer), NYSHESC will notify you and Manhattan School of Music of your eligibility. The Office of Financial Aid will add the amount awarded to your record and notify the Bursar's Office.
In addition to federal loans, some parents and students inquire about other loan funds available to meet educational costs not already covered by institutional and federal financial aid. Nonfederal alternative loans are normally credit-based loans available through lenders to help in meeting this gap. Information about these loans is available in the Office of Financial Aid at Manhattan School of Music.