EASTMAN SCHOLARSHIPS AND GRANTS
Merit Scholarships
Merit scholarships, such as the Howard Hanson and Lois S. Rogers Scholarships, are awarded for a total of 8 semesters (10 for dual degree students). These merit scholarships will carry over into the new academic year provided that students maintain a 3.0 Cumulative Grade Point Average (CGPA), make satisfactory academic progress, and are not on academic probation.
Students must maintain a 3.0 (CGPA) to continue to receive a merit-based scholarship. Failure to maintain a 3.0 CGPA by the end of the first year of studies (or any subsequent semester) will result in a monetary reduction per semester of any merit scholarship. Academic probation students will usually receive a further merit scholarship reduction per semester. In more serious cases, the Eastman School of Music reserves the right to remove a student’s entire merit scholarship award.
Need-Based Funds
Eligibility for the Eastman need-based institutional aid is determined from the information reported on the FAFSA (www.fafsa.ed.gov). A student will be required to complete the verification process before his/her need-based aid will be credited to the student bill. As a student’s need often varies from year to year, need-based aid eligibility will be reviewed and awards will be adjusted each year accordingly. Students, who continue to meet the need criteria each year, may receive the George Eastman Grant for up to eight semesters of full-time undergraduate enrollment.
FEDERAL AID
Federal Pell Grants
The Federal Pell Grant is a need-based grant awarded to students by the federal government and does not have to be repaid. The U.S. Department of Education uses a standard formula, established by Congress, to determine eligibility based on the information reported on the FAFSA (www.fafsa.ed.gov). All Pell eligible students must complete the verification process before any federal funds will be credited to their tuition bill.
Federal Supplemental Educational Opportunity Grants (SEOG)
Awarded to Federal Pell Grant recipients who have the highest calculated need. The SEOG grant will be credited to the tuition bill upon completion of the verification process.
Note: Effective July 1, 2011, the Federal Government discontinued the Academic Competitiveness Grant (ACG) and the National Science and Mathematics Access to Retain Talent Grant (National SMART Grant) due to federal funding cuts.
Federal Work-Study Awards
The Federal Work-Study program provides full-time undergraduate students an opportunity to earn money towards educational expenses through on-campus and off-campus employment. The hourly pay for each position is determined by the University of Rochester pay rate based on the type of work and the skills required. Most FWS program students at the Eastman School of Music obtain employment within the school.
Students are responsible for seeking available positions on campus if the student wishes to earn work-study funds. Available positions are posted to the Careers and Professional Development website.
The number of hours a student can work will be determined by the class schedule, supervisor, and the amount of FWS funds offered to a student on the award letter. Students must be enrolled full-time to be eligible for work-study.
Federal Perkins Loan Program
This program provides low-interest (5%) long-term loans to students who demonstrate financial need. The Eastman School of Music has a very small allocation of these funds, so we are only able to award this loan to a very limited number students. If the student financial aid package for the coming year includes this loan, the Financial Aid Office will notify students in August about any documents that need to be completed. Repayment does not begin until nine months after the student completes or withdraws from his/her educational program. A Federal Perkins Loan must be declined or reduced in writing. The Federal Perkins Loan will have to be declined prior to a Federal Direct Loan.
Federal Direct Loan (subsidized and unsubsidized)
This program provides low-interest, long-term loans for students’ educational expenses. Yearly subsidized loan limits per class status are $3,500, $4,500 $5,500 and $5,500 respectively. A subsidized loan is awarded on the basis of financial need. Students will not be charged any interest on a subsidized loan, while enrolled in school at least half time, as the federal government subsidizes the interest.
Students also qualify for an additional $2,000 in unsubsidzed loan for all four academic years. An unsubsidized loan is not awarded on the basis of need. Students are charged interest from the time the loan is disbursed until it is paid in full. If interest is allowed to accumulate, it will be capitalized and added to the principal amount of the loan. The interest rate for a Direct Unsubsidized Student Loan is fixed at 6.8%. An origination fee is charged by the Federal government, so the actual dollar amount received will be less than the amount borrowed. Federal regulations require multiple disbursements of federal loans originated for a full academic year, students receive half of the loan amount in the fall term and half in the spring.
First-time Federal Direct Loan Borrowers must complete an Entrance Counseling Session and a Master Promissory Note before loan proceeds can be credited to the student’s account’ Returning students, who received a Federal Direct Loan in a prior year, will not be required to sign another master promissory note. Federal Direct Loan proceeds will be automatically applied to the student’s account. If a student wishes to decline or reduce a Federal Direct Loan, the Financial Aid Office needs to be notified in writing no later than 30 days after the disbursement of the loan.
For detailed information on Federal Direct Loans and Private Loans, please visit the Eastman Loan Page.
Federal Direct Parent Loan for Undergraduate Students (PLUS)
This federal program provides credit-based loans that allow parents to borrow up to the cost of education minus other financial aid awarded. The interest rate for Direct PLUS Loans is fixed at 7.9%. Repayment for PLUS Loans begins 60 days after the second disbursement. An origination fee is charged by the Federal government so the actual dollar amount received will be less than the amount borrowed. Parents may request that this fee be considered in the student’s Cost of Attendance so as to maximize the PLUS eligibility. Federal regulations require multiple disbursements of federal loans originated for a full academic year, students receive half of the loan amount in the fall term and half in the spring.
The PLUS Loan is not automatically renewed. A FAFSA and a new loan application must be submitted each year.
A parent can apply for a Direct PLUS Loan via a paper application or online.
First-time Federal PLUS Loan Borrowers, who are approved for this loan, must complete a Master Promissory Note before loan proceeds can be credited to the student’s account. The Bursar’s Office will also require that a PLUS Loan Borrower complete a Credit Balance Request Form for PLUS Borrowers.
If a parent is concerned about the financial eligibility for a PLUS Loan, the Eastman Financial Aid Office can run a credit check to determine eligibility. A Credit Check Authorization Form must be completed and returned before the credit check can be done. If a parent is not eligible for a PLUS Loan based on the credit check, the student may receive an additional unsubsidized loan amount of $4,000 or $5,000 depending on the student’s grade level.
PLUS Loan borrowers who wish to defer payment on the principal of the PLUS Loan, while the student is in school, must complete the Parent PLUS Loan Deferment Form. This form can be obtained from your Federal PLUS Loan Servicer. A parent borrower can find out who his/her Federal Loan Servicer is by reviewing his/her PLUS Loan account at www.nslds.ed.gov.
For detailed information on Federal Direct PLUS Loans, please visit the Eastman Loan Page.
More information on Federal Aid
Renewal of Your Merit Scholarship for Next Year (2012-2013)
In order to renew your Merit Scholarship for the 2012-2013 academic year, you must:
- Be registered for at least 12 credit hours each semester.
- Be making satisfactory academic progress (during the 2011-2012 academic year) towards the completion of your degree.
- Be maintaining a Cumulative Grade Point Average (CGPA) of 3.0 or higher.
Merit Scholarships are awarded for a total of 8 semesters (10 semesters for dual degree students) unless you are a transfer student.
Merit Scholarships are determined at the time you are accepted to Eastman and cannot be appealed.
You do not need to complete any additional forms regarding merit aid. You only need to make sure that you are in compliance with the requirements listed in this email.
Renewal of Your Financial Aid for Next Year (2012-2013)
The U.S. Department of Education has created an enhancement to the FAFSA filing process by allowing applicants and parents to retrieve tax data from the IRS. This new process is called the IRS Data Retrieval Tool. Parents and students should select this option when filing their 2012-2013 FAFSA to streamline the application process.
- Complete the 2012-2013 Free Application for Federal Student Aid (FAFSA) following the instructions in the Group that best describes how you will apply. Make sure to use the Eastman School Code on your FAFSA: 008124. The Eastman FAFSA Application deadline is May 15, 2012.
We recommend the following steps when filing the 2012-2013 FAFSA:
Group 1 – You and your parents will be filing your 2011 Federal Tax Return prior to April 15, 2012.
Complete your 2011 Federal Tax Returns for both students and parents.
Complete the 2012-2013 FAFSA (Free Application for Federal Student Aid) at www.fafsa.ed.gov.
- If you and your parents filed your taxes electronically, wait 2 weeks and then complete the FAFSA.
- If you and your parents filed your taxes via regular mail, wait 6 weeks and then complete the FAFSA.
Enter the student and parent tax information by clicking on “LINK TO IRS”.
- The tax information will automatically be entered from the IRS database onto the FAFSA.
Do not send any financial aid information to the Eastman Office of Financial Aid. When we receive your FAFSA information, we will notify you if any further information is needed.
Group 2 – You and your parents will be filing your 2011 Federal Tax Return after April 15, 2012 (Filing an IRS Form 4868 for a tax extension)
Complete the 2012-2013 FAFSA (Free Application for Federal Student Aid) at www.fafsa.ed.gov. Use estimated student and parent tax information when completing the FASFA.
Complete your 2011 Federal Tax Returns for both students and parents.
- If you and your parents filed your taxes electronically, wait 2 weeks and then update the FAFSA.
- If you and your parents filed your taxes via regular mail, wait 6 weeks and then update the FAFSA.
Update the 2012-2013 FAFSA by returning to your original FAFSA at www.fafsa.ed.gov and clicking on “LINK TO IRS”.
- The parent and student tax information will automatically be entered from the IRS database onto the FAFSA.
- You and your parents will need to update any of the other questions on the FAFSA manually.
You will need to send a copy of your IRS Form 4868 or approval of extension and all 2011 W-2 forms to the Eastman Office of Financial Aid. Do not send any other financial aid information. We will notify you if any further information is needed.
Group 3 – Do not try to use the IRS Data Retrieval System if:
- Your parents are married, but filing separate 2011 Federal Tax Returns.
- Your parents are divorced/separated, but file a joint 2011 Federal Tax Return.
- You or your parents will file an amended 2011 Federal Tax Return.
If Group 3 describes your family situation, contact the Eastman Office of Financial Aid for further guidance about completing the FAFSA.
VERIFICATION PROCESS -
2012-2013 Verification
Verification is the process of confirming the information on the FAFSA (Free Application for Federal Student Aid). In order to comply with Federal regulations, we may ask you to provide information that verifies the data you provided on your FAFSA. The creation of the IRS Data Retrieval Tool has simplified the verification process.
Due to a change in Federal regulations, our office is no longer allowed to accept federal tax returns.
If your FAFSA information is selected for verification, you and your family will need to submit the following documentation:
1) The IRS Data Retrieval Tool was used:
2) The IRS Data Retrieval was not used or was unable to be used:
- 2012-2013 Dependent Verification Form
- 2011 IRS Tax Return Transcript (Student), if filed
- 2011 W-2 forms (Student)
- 2011 IRS Tax Return Transcript (Parents), if filed
- 2011 W-2 forms (Parents)
For all non-tax filers, please list your income information in the appropriate section of the Dependent Verification Form.
If you or your parents file an amended tax return, you must submit both a 2011 IRS Tax Return Transcript AND a 2011 IRS Tax Account Transcript.
For instructions of how to obtain an IRS Transcript, please click on the links below:
If you have questions about the verification process for the 2012-2013 academic year, please contact the Eastman Office of Financial Aid.
ADDITIONAL FUNDING
Outside Scholarships
We encourage students to search and apply for outside scholarship funding throughout their undergraduate years. Receiving the greatest amount of outside scholarship funding requires students to consider scholarships beyond the music realm (clubs, religious organizations, ethnic groups, groups that parents or other relatives may be involved with, etc.) and to keep the search broad (start with the general undergraduate scholarships, then try the arts, etc.).
Private Loans
Some students and families choose to borrow a private loan to cover a portion of the cost of education not already paid for by scholarships and federal grants/loans. We encourage students and parents to exhaust all federal loan options prior to applying for a private loan. The federal loan programs generally offer lower interest rates and fees than the private loans.
If a student chooses to pursue a private loan, we recommend comparing the costs associated with various loans before completing an application. Interest rates, fees, repayment periods, and other benefits can vary significantly between loans. Often these loans are based on credit-worthiness and approvals are not automatic. The FinAid.org website provides some comparative information regarding private loans. When selecting a loan through a comparative website, be sure to go to the lender’s website to ensure the most up-to-date information about the loan.
The University of Rochester Eastman School of Music does not maintain a preferred lender list. As such, the University has no agreements or relationships with any lenders and does not receive any benefit, financial or otherwise, from the use of private loans by students. For more information on the University’s policies, please see our Student Loan Code of Conduct and Policy on Private Lending.
Financial Aid Appeal
If a family’s financial circumstances have changed drastically due to a parent’s/spouse’s unemployment, medical expenses, loss of personal funding (Social Security or Child Support), etc., then the student may petition for additional assistance.
Domestic students must complete a 2012-2013 Financial Aid Appeal Form-Domestic Students and submit any additional documentation that is requested.
International student must complete a 2012-2013 Financial Aid Appeal Form-International Students and the CSS PROFILE for International Students. The Eastman School Code for the CSS PROFILE for International Students is 2224.
