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Graduate Summer Residency and MECA Financial Aid

College-Based Financial Aid

College-based Federal and State financial aid is not available to Graduate Summer Residency students due to the accelerated nature of this graduate degree program and the length of the summer graduate term.  MECA classes are also ineligible for college based (Federal and State) financial aid.

Other Resources

Student aid may be available from foundations, community organizations and organizations related to your field of interest.  Contact the organizations directly for more information.  Check with your employers to see whether they award scholarships or have tuition assistance.  Although funds from these sources make up a small percentage of the total aid awarded each year, it’s worth doing the research-you never know what you may find.

Online Resources

These are free scholarship search sites.

·       www.fastweb.com
·       www.scholarships.com
·       www.collegeanswer.com
·       www.finaid.org

Information on scholarship scams

·       http://ftc.gov/

Private Loans

 –Non-federal loans available to credit-worthy student borrowers and/or cosigners to cover additional educational expenses

The maximum loan amount a student may borrow is determined by subtracting the total financial assistance received from the total cost of attendance.

Interest rate and repayment options vary, based upon the lender and loan program you select. Because these loans vary greatly in their terms and do not carry the same safeguard benefits as the Federal loans, it is strongly recommended that students maximize their Federal funding before pursuing private loan options.

If you decide to use the private loan option, please complete the Summer Residency Loan Worksheet. This form will help you to determine how much of a loan you will need to cover your tuition, fees, housing and other expenses.  This form must be submitted to the Financial Aid Office for loan processing.  Please Note:  Your loan will not be processed without a completed loan worksheet.

How is my loan money disbursed?

After you have submitted all required documentation to both VCM and your lender, the VCM Financial Aid Office will certify your loan.  The financial aid office will send you an e-mail confirming your loan certification and total loan amount.  Your money will be sent to VanderCook College of Music via electronic funds transfer and applied directly to your tuition and fees.  Any funds you have borrowed to cover books, housing, travel and miscellaneous fees will appear as a credit balance your account.  A refund check will made payable to you for this amount, unless you have sent a request in writing to hold excess on your account.

If you have any questions or concerns, please feel free to contact the financial aid office at (312) 788-1137.

 
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