Current Graduate Students
Graduate Award Program
Applying for a Graduate Award
Federal Aid
Applying for Federal Aid
Verification Process
Additional Funding
GRADUATE AWARD PROGRAM
The Eastman School of Music provides financial support to its graduate students primarily through the Graduate Award Program, a merit-based system of financial aid. Through its graduate awards, the School is able to provide in-depth professional training for graduate students, and to receive valuable services in return from our graduate students. Graduate students who are not only highly recommended in their major, but who also are highly recommended for a graduate award, receive the most merit-based financial support from the School.
A graduate award normally consists of a stipend (salary for the work done) and a tuition scholarship (a partial remission of tuition). A small number of awards are tuition scholarship only. Note that admission to a graduate program does not guarantee a graduate award.
Questions about graduate awards should be directed to Eastman's Graduate Office (585-274-1560 or cmccamman@esm.rochester.edu).
APPLYING FOR A GRADUATE AWARD
Graduate Award Tuition Scholarships and/or stipends are awarded through the Graduate Studies Office. If you currently have a Graduate Award for the 2007-08 academic year a Continuation of Graduate Award Form will be placed in your student mail folder (located in the Internet Café) near the end of January. The forms should be returned to the Graduate Studies Office. If you do not hold a Graduate Award for 2007-08 and wish to be considered for one for the 2008-09 academic year you should consult your departmental chair for application procedures.
All Graduate Students must complete the 2008-2009 Graduate Student Financial Aid Application so the Eastman Financial Aid Office can prepare your financial aid package and award letter.
Please note that named awards, replacement funds, and departmental awards do not roll over from year to year.
FEDERAL AID
Graduate Federal Aid
All graduate students are considered independent for purposes of financial aid; parental data is not required. It generally is not possible for the Graduate Award Program to meet all of the financial need of graduate students, Eastman’s Financial Aid Office helps graduate students who are U.S. citizens or permanent residents to arrange for federal assistance. Such assistance includes Federal Direct Student Loans and Federal Work-Study funds. International graduate students, although not eligible for federal assistance, may apply for a private loan for financial assistance beyond the graduate awards.
Federal Work-Study Awards
The Federal Work-Study program provides full-time graduate students an opportunity to earn money towards educational expenses through on-campus and off-campus employment. The hourly pay for each position is based on the University of Rochester pay rate for the position which is 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.
It is the student’s responsibility to seek available positions on campus if she/he wishes to earn work-study funds. Available positions are posted to the Careers and Professional Development website.
The hours you work will be determined by your class schedule, your supervisor, and the amount of FWS funds offered in your award letter. You may not work more than 20 hours per week and must be enrolled as a full-time student to be eligible for work-study.
Federal Direct Loan Program (subsidized and unsubsidized)
This program provides low-interest long-term loans for students' education expenses. The federal loan limit per year for graduate students is $20,500, of which no more than $8,500 may be awarded in subsidized loans. A subsidized loan is awarded on the basis of financial need. You will not be charged any interest before you begin repayment or during deferment, as the federal government subsidizes the interest during these periods. An unsubsidized loan is not awarded on the basis of need. You will be charged interest from the time the loan is disbursed until it is paid in full. If you allow the interest to accumulate, it will be capitalized and added to the principal amount of your loan. On July 1, 2006, the interest rate on both these loans was fixed at 6.8%. Loans borrowed prior to this date will continue to carry an annual variable rate that will be adjusted each year on July 1, and will not exceed 8.25%. Approximately 1.5% of your loan is paid to the federal government as fees, so your actual dollar amount received will be less than the amount you borrow. Federal regulations require multiple disbursements of federal loans originated for a full academic year, so you will receive half of the loan amount in the fall term and half in the spring.
If your aid package includes a Federal Direct Loan and you are a first-time borrower at the Eastman School of Music, you must also complete a Loan Entrance Interview (www.dl.ed.gov) and a Master Promissory Note for Students (https://dlenote.ed.gov) before loan proceeds can be credited to your student account. If you are a returning student and you received a Federal Direct Loan last year, you will not be required to sign another master promissory note. Your Federal Direct Loan proceeds will be automatically applied to your student account. You will be notified of your loan eligibility through your financial aid award letter. If you wish to decline or reduce your Federal Direct Loan, you need to do so in writing no later than 30 days after the disbursement of your loan.
Federal Direct Graduate PLUS Loan Program
On July 1, 2006 the federal government implemented the Federal Graduate PLUS Loan Program. This new federal program provides credit-based loans that allow graduate students to borrow up to the cost of attendance minus other financial aid awarded. The interest rate for Graduate PLUS Loan was fixed at 7.9%. A Graduate PLUS Loan applicant must not have an adverse credit history. However, if you do have an adverse credit history you may still be able to receive a loan by obtaining an endorser who does not have an adverse credit history. An endorser is someone who agrees to pay the loan if the borrower fails to do so. Graduate students who want an in-school deferment for the Graduate PLUS Loan must complete the deferment request form.
APPLYING FOR FEDERAL AID
Eligibility
Students who wish to be considered for Federal Aid (federal student loans and work-study) must:
- Be registered for at least half time status each semester (at least 6 credit hours or ESM 999) to receive loans.
- Have made satisfactory academic progress towards completing their degree.
- Complete all necessary applications and return all required documentation.
Required Documentation
2008-2009 Academic year
- A 2008-09 FAFSA, which can be completed on the web using your (and your spouse’s) 2007 Federal tax returns. You may wish to first complete the 2008-09 FAFSA on the Web Worksheet.
- Please, make sure to use Eastman’s Federal School Code, 008124, (Not the University of Rochester) in the school selection portion of the application.
- If you choose to sign your FAFSA using an electronic signature then you (and your spouse) will need a FAFSA PIN. If you (or your spouse) do not remember or do not have a PIN, please apply for or request one at www.pin.ed.gov.
- Please also return the following to the Financial Aid Office:
- A 2008-09 Independent Verification Worksheet.
- SIGNED copies of your (and your spouse’s) Federal 2007 tax returns including all schedules and forms.
- Copies of ALL of your (and your spouse’s) 2007 W-2 forms.
- A completed 2008-2009 Graduate Student Financial Aid Application.
VERIFICATION PROCESS
What is verification?
The verification process is completed by the school using documentation supplied by the student. In this process, the school compares the information provided by the student on the FAFSA with the student’s (and spouse’s) Federal tax returns, W-2 forms and the verification worksheet. If there are discrepancies between the information on the FAFSA and the financial documentation submitted to the Financial Aid Office, the school will make corrections to the student’s FAFSA electronically. These adjustments may result in a change in the student’s financial aid eligibility. Students whose Federal Aid is modified due to verification will receive a revised award letter outlining any changes.
Who needs to complete the process?
All students selected by the government for verification are required to complete the verification process. Additionally, returning students whose FAFSA was completed using estimated tax figures (i.e. filed the FAFSA prior to filing their tax returns), those whose Student Aid Report (SAR) comments suggest that a specific tax item be reviewed, and those who have a flagged SAR due to inconsistent information will also be selected for verification. Any student who has applied for a Financial Aid Appeal will be verified as part of the appeal process.
What is needed for verification?
If you are selected for verification for the 2008-2009 academic year you will be required to submit:
- A 2008-09 Independent Verification Worksheet.
- SIGNED copies of your (and your spouse’s) Federal 2007 tax returns including all schedules and forms.
- Copies of ALL of your (and your spouse’s) 2007 W-2 forms.
- Additional documentation that may be needed will be requested at the time of verification.
ADDITIONAL FUNDING
Outside Scholarships
We strongly encourage you to search and apply for outside scholarship funding. Receiving the greatest amount of outside scholarship funding requires you to consider scholarships beyond the music realm (clubs, religious organizations, ethnic groups, groups that your relatives may be involved with, etc.) and to keep your search broad.
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 strongly 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 private loans.
If you choose 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. If you select a loan through a comparative website, be sure to also go to the lender's website to ensure you are getting 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 your financial circumstances have changed drastically due to unemployment, medical expenses, loss of personal funding (Social Security or Child Support), etc. then you may petition for an aid appeal by completing a 2008-09 Financial Aid Appeal Form. You will need to provide documentation to support your situation.