Financial Aid

There are so many options to help you pursue
your dream to be an actor.
Don’t let money be the reason you don’t!

Tuition is $4,150 per semester and books cost $50 per semester.

Conservatory students can complete the Free Application for Federal Aid (FAFSA) to learn what kinds of grants and loans they may be eligible to receive.

The application is easy to complete right on line at: www.FAFSA.ed.gov.

A paper copy of the FAFSA may be obtained from the office of the Vic President Nan Ficca> Students/prospective students can also schedule a time to complete the FAFSA on-line at school.

What you will need:
1) Your 2010 Federal Tax return (if you did not work or were not required to file skip this step.)
2) If you were not born before January 1, 1987 you will need your parent(s) 2009 Federal Tax Return.
3) The Conservatory's school code: 014941

E-mail us to set up an appointment to go over your financial aid options today – NCDADrama@aol.com.

Grants
Grants are need-based and your eligibility to receive them is based on the evaluation of the financial information you supply to the Department of Education in your FAFSA.

Pell Grant
Pell Grants range from $400 to $2,600 per semester depending on your eligibility.
Grants do not have to be repaid.

Federal Supplemental Educational Opportunity Grant (FSEOG)
The FSEOG grant ranges from $100 to $600 per semester depending on your eligibility.
Grants do not have to be repaid.

Loans
Federal Student Loans are available to all students who are not currently in default on a student loan - there is no credit check as with a provate loan. There are two types of federal loan available to students:

Direct Subsidized Loan
Subsidized means that the Federal Government pays the interest on your student loan for the time that you are in school and for six months after you leave school. So the only thing waiting for you when you graduate is the principal of what you borrowed.

Direct Unsubsidized Loan
This loan is the opposite of the Subsidized Loan - interest on this loan begins to accrue immediately. But - you can elect to pay your interest while you are in school so that the loan is not accruing interest during your studies.

Entrance and Exit Counseling
No student will receive any loan funds until he/she has completed entrance counseling and student borrowers will be denied post-graduate student services until exit counseling is completed.

It is critical that student borrowers fully understand how their lonas work and the repayment process and all of the responsibiliteis and rights associated with the Directo Loan program.

Entrance and Exit Counsleing sessions are completed on-line and take about 20-30 minutes. Student borrowers read short passages and then answer multiple choice questions to ensure that they unerstand the programs and replayment requirements. You will need to have a FAFSA PIN to get into the site for completing on-line counseling.

	Dependent Students		Independent Students
	Subsidized Loan Amount	Unsubsidized Loan Amount	Subsidized Loan Amount	Unsubsidized Loan Amount
Year One	$3,500 ($1750/Semester)	$2,000 ($1,000/Semester)	$3,500 ($1750/Semetser)	$6,000 ($2,000/Semester)
Year Two	$4,500 ($2250/Semester)	$2,000 ($1,000/Semeter)	$4,500 ($2,250/Semester)	$6,000 ($2,000/Semester)

If You Already Have Student Loans:
If you have student loans already from prior study you can put them into deferment while you are enrolled at the Conservatory. It's easy - you call the organization that is servicing your loan and ask for an in school deferment form. Once you have enrolled and started your classes give this form to the director of financial aid and it will be completed and sent back to your loan servicing company to let them know that you are enrolled in school again.

Student Loan Interest Tax Deduction
If you do have loan interest - remember that you can write your student loan interest on your Federal Tax Return.

Veteran's Benefits
Veterans of the Armed Forces can use their benefits to train at the Conservatory too! The Conservatory is approved for The Montgomery GI Bill - Chapter 30 and for Post 9-11 Chapter 33 benefits.

What you will need:
Your DD-214 - simply give this to the director of financial aid and we will process your benefits through the VA. If you have never activated your education benefits (used them before) see the director of financail aid for a form 22-1990 to activate your benefits today.

Tuiton Tax Credits:
In 1998 Congress passed a tuition tax credit which allows taxpayers to deduct a percentage of their out-of-pocket tuition expenses (percentage based on tax bracket) on their Federal Tax Return. For more information on the Hope Scholoarship and Lifetime Learning Tax Credits visit:  http://www.irs.gov/formspubs/article/0,,id=177996,00.html