{"id":54420,"date":"2021-04-05T12:17:37","date_gmt":"2021-04-05T16:17:37","guid":{"rendered":"https:\/\/peabody.jhu.edu\/?page_id=54420"},"modified":"2025-05-12T17:24:04","modified_gmt":"2025-05-12T21:24:04","slug":"federal-aid-assistance","status":"publish","type":"page","link":"https:\/\/peabody.jhu.edu\/audition-apply\/financial-aid-scholarships\/prospective-students\/federal-aid-assistance\/","title":{"rendered":"Federal Aid Assistance"},"content":{"rendered":"\n<p><strong>The various types of federal financial aid offered at Johns Hopkins Peabody Conservatory range from Pell Grants to Direct Student Loans.<\/strong><\/p>\n<p>Students must complete the Free Application for Federal Student Aid (FAFSA) and meet the eligibility requirements to be considered for federal aid through the Federal Student Aid program.<\/p>\n<h3>Eligibility<\/h3>\n<p>In order to qualify for federal financial aid, you must:<\/p>\n<ul>\n<li>be a U.S. citizen or an eligible noncitizen<\/li>\n<li>have a valid Social Security number<\/li>\n<li>be enrolled (at least 1\/2 time) or accepted for enrollment as a regular student in an eligible degree program<\/li>\n<li>maintain satisfactory academic progress as outlined in the Peabody catalogue<\/li>\n<li>not be in default on a federal student loan or owe money on a federal student grant<\/li>\n<\/ul>\n<p>For additional criteria and more information, please visit <a href=\"https:\/\/studentaid.gov\/understand-aid\/eligibility\">https:\/\/studentaid.gov\/understand-aid\/eligibility<\/a>.<\/p>\n<p><strong>IMPORTANT NOTE:<\/strong> Federal Financial Aid is only available for Peabody degree programs (BM, MM, DMA).\u00a0 The Graduate Performance Diploma, Artist Diploma and Teacher Certificate are ineligible for federal loans and work-study.\u00a0 However, GPD and AD students are eligible for Peabody Merit Scholarship.<\/p>\n<h2>Types of Federal Aid<\/h2>\n<h3>Federal Pell Grant<\/h3>\n<p>These are direct grants from the federal government that can range from $750 to $7395 per year.\u00a0 Students must meet strict federal requirements to be eligible.<\/p>\n<h3>Federal Work Study<\/h3>\n<p>Federal Work Study (FWS) funding is need-based offered to students for part-time employment, generally for on-campus positions; however established community service positions exists.\u00a0 The wages are paid directly to the student and do not reduce the student&#8217;s tuition bill.<\/p>\n<h3>Federal Direct Student Loans<\/h3>\n<p>The\u00a0<strong>subsidized<\/strong>\u00a0Direct Student Loan is need-based, so your family contribution is used to determine eligibility. The federal government subsidizes the loan by paying the interest while you are in school. The maximum subsidized amount per year is $3,500 for freshmen, $4,500 for sophomores, and $5,500 for juniors and seniors.<\/p>\n<p>The <strong>unsubsidized <\/strong>Direct Student Loan is not based on financial need, although you must complete the Free Application for Federal Student Aid (FAFSA) to obtain the loan. Interest begins accruing on the unsubsidized Federal Direct Student Loan after the first disbursement. While enrolled in school, you and your family may choose to pay all, part, or no interest at all. We encourage students to make interest payments while in school, if possible. The annual maximum a graduate student can receive in Unsubsidized loans is $20,500.\u00a0 \u00a0The aggregate loan limit is $138,5000, which includes loans received for undergraduate study.\u00a0<\/p>\n<p>The <strong>Graduate PLUS<\/strong> Direct Loan<span style=\"font-size: inherit;\"> is a credit-based loan program available to graduate students, enrolled at least half-time, whose maximum federal loan eligibility is not sufficient to cover their educational costs. A credit check will be performed during the application process. If a student has an adverse credit history and their GradPLUS application is denied, they may still be eligible by <a href=\"https:\/\/studentaid.gov\/understand-aid\/types\/loans\/plus\"><strong>obtaining an endorser or appealing the credit decision<\/strong><\/a>. GradPLUS borrowers can borrow up to the full <strong>Cost of Attendance<\/strong> in combination with other aid and resources. Repayment of a GradPLUS Loan begins 60 days after the second disbursement.<\/span><\/p>\n<p>The <strong>Parent PLUS<\/strong> Direct Loan is available to parents of students who meets the above eligibility requirements.\u00a0 A credit review is required, but there is no \u201cdebt to income\u201d review. A co-borrower\/endorser option is offered if the borrower\u2019s credit is denied. Credit checks are valid for 180 days. Borrowers may complete a credit check at\u00a0<strong><a href=\"https:\/\/studentaid.gov\/\">studentaid.gov<\/a><\/strong>. Borrowers apply for the Parent PLUS loan for each academic year individually. Multi-year loans may be consolidated at a later date. The loan amount may not exceed the cost of attendance for the academic year, minus any financial aid that the student is eligible to receive. Borrowers are encouraged to apply for the amount needed for the entire year, not semester by semester.<\/p>\n<h2>Loan Terms and Disbursement<\/h2>\n<ul>\n<li>An <a href=\"https:\/\/studentaid.gov\/understand-aid\/types\/loans\/interest-rates\">origination fee<\/a> is deducted from each disbursement of the loan.<\/li>\n<li>The <a href=\"https:\/\/studentaid.gov\/understand-aid\/types\/loans\/interest-rates\">interest rate<\/a> is a fixed percent for the life of the loan.<\/li>\n<li>Disbursements are scheduled at the beginning of each semester and are deposited directly in the student&#8217;s account.\u00a0<\/li>\n<\/ul>\n<h2><strong>New and Continuing Borrowers<\/strong><\/h2>\n<p>Along with the <a href=\"https:\/\/studentaid.gov\/mpn\/\">Electronic Master Promissory Note<\/a> and <a href=\"https:\/\/studentaid.gov\/entrance-counseling\/\">Entrance Counseling<\/a>, borrowers are required to complete the <strong>Annual Student Loan Acknowledgement (ASLA).<\/strong><\/p>\n<p>To receive your first loan disbursement, completion of the ASLA with the U.S. Department of Education is required. The annual requirement helps you to understand the debt obligation and responsibilities you assume with student loans. If this is your first time accepting a federal student loan, you will review loan data for JHU students and your debt estimate in relation to this data. If you have previously borrowed federal student loans, you will acknowledge that you understand your current debt and remaining loan eligibility.<\/p>\n<p>You must complete your Annual Student Loan Acknowledgment online at <a href=\"https:\/\/studentaid.gov\/asla\/\">https:\/\/studentaid.gov\/asla\/.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The various types of federal financial aid offered at Johns Hopkins Peabody Conservatory range from Pell Grants to Direct Student Loans. Students must complete the Free Application for Federal Student [&hellip;]<\/p>\n","protected":false},"author":47,"featured_media":0,"parent":2932,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-54420","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/peabody.jhu.edu\/wp-json\/wp\/v2\/pages\/54420","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/peabody.jhu.edu\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/peabody.jhu.edu\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/peabody.jhu.edu\/wp-json\/wp\/v2\/users\/47"}],"replies":[{"embeddable":true,"href":"https:\/\/peabody.jhu.edu\/wp-json\/wp\/v2\/comments?post=54420"}],"version-history":[{"count":30,"href":"https:\/\/peabody.jhu.edu\/wp-json\/wp\/v2\/pages\/54420\/revisions"}],"predecessor-version":[{"id":95129,"href":"https:\/\/peabody.jhu.edu\/wp-json\/wp\/v2\/pages\/54420\/revisions\/95129"}],"up":[{"embeddable":true,"href":"https:\/\/peabody.jhu.edu\/wp-json\/wp\/v2\/pages\/2932"}],"wp:attachment":[{"href":"https:\/\/peabody.jhu.edu\/wp-json\/wp\/v2\/media?parent=54420"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}