Types of Aid

Eligibility: U.S. Citizens and Permanent Residents

Eligible to apply for all programs outlined on this page (except TAP*):

Manhattan School of Music Scholarship
Manhattan School of Music President's Award
Federal Pell Grant
Federal Supplemental Educational Opportunity Grant (SEOG)
Federal Work-Study Program
Federal Perkins Loan
Federal Stafford Loan
Federal PLUS Loan
New York State Achievement and Investment in Merit Scholarship (NYS-AIMS)
Tuition Assistance Program (TAP)
Nonfederal Alternative Loans
Third Party Scholarships

*TAP - Tuition Assistance Program (you must be a New York resident to apply for the TAP Program)


Eligibility: International Students

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.

Institutional Aid

Manhattan School of Music Scholarship

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.

President's Award

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.

Federal Aid Programs

Federal Pell Grant

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.

Federal Supplemental Educational Opportunity Grant (SEOG)

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.

Federal Work-Study Program

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 $1,200. 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.

Federal Education Loans

Manhattan School of Music participates in the William D. Ford Federal Direct Loan program, 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. See a detailed description of Federal Direct Loans below. 

Federal Perkins Loan

The Federal Perkins Loan is a low-interest (5%) loan for undergraduate and graduate students with exceptional financial need. The maximum annual award is $5,500. Manhattan School of Music is the lender of the funds. The number and amount of the award depends on the collection activity (former students repaying their loans) of the previous year.

Federal Direct Stafford Loan

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 accrues while the student is enrolled. Payments are deferred the same as the Subsidized Loan. Students accepting their Stafford Loan(s) on their Financial Aid Notification Letter will have their loan data electronically transmitted. The US Government has origination fees that apply to these loans. For loans disbursed on or after 10/1/14 and before 10/1/15, the origination fee is 1.073% of the total amount of the loan. For loans disbursed on or after 10/1/15 and before 10/1/16, the origination fee is 1.068% of the total amount of the loan. This percentage will be deducted from your loan automatically by the federal government before releasing the loan funds to MSM.  

All first-time borrowers are required to sign a Master Promissory Note (MPN) and complete Entrance Counseling (EC) at www.studentloans.gov
before funds can be released. All returning and new borrowers must return a signed copy of the Financial Aid Award Letter to the Office of Financial Aid to accept or decline their loans. Once these items are completed, the loan will be set for disbursement on dates established by Manhattan School of Music. The funds will be electronically transmitted to Manhattan School of Music and will be applied to your account within three business days.  

Undergraduate Borrower Limits-Subsidized Stafford Loan: First year undergraduates may borrow up to $3,500 per year; second year, up to $4,500 per year; and third and fourth year, up to $5,500 per year. All undergraduate Dependent students are eligible for a $2,000 Unsubsidized Stafford Loan. Additionally, Independent undergraduates can borrow an additional Unsubsidized Stafford loan 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 Federal Direct Parent PLUS Loan are eligible for the additional unsubsidized amounts.

Graduate Borrower Limits- Unsubsidized Stafford Loan: Graduate students may borrow up to $20,500 in a Federal Direct Unsubsidized Stafford Loan.

Federal Direct PLUS Loan

Federal Direct Parent PLUS Loans are federal loans to assist parents with the expenses for Dependent undergraduate students. This loan is in the parent's name specifically for their student's educational costs. Graduate students may apply for the Federal Direct Graduate PLUS Loan in their own name. PLUS Loans are available up to the Cost of Attendance (COA) minus any financial aid received. The maximum amount is determined by Manhattan School of Music. A credit check determines 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. The US Government has origination fees that apply to these loans. For loans disbursed on or after 10/1/14 and before 10/1/15, the origination fee is 4.292% of the total amount of the loan. For loans disbursed on or after 10/1/15 and before 10/1/16, the origination fee is 4.272% of the total amount of the loan. This percentage will be deducted from your loan automatically by the federal government before releasing the loan funds to MSM.

All first-time borrowers are required to sign a Master Promissory Note (MPN) and complete Entrance Counseling (EC) at www.studentloans.gov before funds can be released. To apply for a Direct PLUS Loan, visit www.studentloans.gov. All borrowers are required to reapply each year and have a new credit check run. All returning and new borrowers must return a signed copy of the Financial Aid Notification Letter to the Office of Financial Aid. 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.

A parent or graduate borrower who does not meet the credit requirements to qualify for a Federal Direct PLUS Loan can either appeal the credit decision or secure an endorser, which is like a co-signer. If you choose to appeal the decision, please contact Student Loan Support Services at 1-800-557-7394 to initiate the appeal process. They will let you know exactly what you need to do to appeal the decision. All PLUS Loan borrowers who do not initially meet the credit requirements are required to complete PLUS Loan Counseling at www.studentloans.gov if their credit appeal is accepted or they secure an approved endorser.

Other Sources of Funding

Tuition Assistance Program (TAP)- New York State Residents Only

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.

New York State Achievement and Investment in Merit Scholarship (NYS-AIMS)

The New York State Achievement and Investment in Merit Scholarship (NY-AIMS) provides merit-based scholarships to New York State high school graduates who achieved academic excellence as a high school student, and enroll or plan to enroll in a public or private New York State college immediately after high school. Recipients will receive annual awards of $500 for not more than four years of undergraduate study, or five years if the program of study normally requires five years.

Nonfederal Alternative Loans

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.

Third Party Scholarships

Fin Aid
Scholarship Experts
Fast Web
The College Board
International Scholarships
International Education Financial Aid




Financial Aid

Manhattan School of Music
120 Claremont Ave
New York, NY 10027
917-493-4809
finaid@msmnyc.edu

Adam Ghiloni

Director of Financial Aid
917-493-4463
aghiloni@msmnyc.edu

Barb Minervini
Associate Director of Financial Aid
917-493-4445
bminervini@msmnyc.edu


Fax:
212-749-3025