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VanderCook College of Music

Financial Aid FAQs

Frequently Asked Questions

Your answers to questions on the FAFSA determine whether you are considered a dependent or independent student.

Dependent students are required to include information about their parents on the FAFSA. By answering a few questions, you can get a good idea of which category you fit into.

  • Will you be 24 or older by Dec. 31 of the school year for which you are applying for financial aid?
  • Will you be working toward a master’s or doctorate degree (such as M.A., M.B.A., M.D., J.D., Ph.D., Ed.D., etc.)?
  • Are you married or separated but not divorced?
  • Do you have children who receive more than half of their support from you?
  • Do you have dependents (other than children or a spouse) who live with you and receive more than half of their support from you?
  • At any time since you turned age 13, were both of your parents deceaced, were you in foster care, or were you a ward of dependent of the court?
  • Are you an emancipated minor or are you in a legal guardianship as determined by a court?
  • Are you an unaccompanied youth who is homeless or self-supporting and at risk of being homeless?
  • Are you currently serving on active duty in the U.S. armed forces for purposes other than training?
  • Are you a veteran of the U.S. armed forces?

If none of the criteria listed above apply to you, you may be considered a dependent student and may be required to provide your parents’ financial information when completing the FAFSA. If you answered yes to any of these questions, then you may be an independent student. You may not be required to provide parental information on your FAFSA.

If you have questions about your dependency status or need more information, please visit StudentAid.gov/dependency.

If you receive a Renewal Reminder, it means you are eligible to reapply for financial aid in the new academic year via FAFSA on the Web, and you will have the option of “pre-filling” your application with data you provided for the previous year. Contact the financial aid office at the college you plan to attend if there are any questions.

Our most basic eligibility requirements are that you must:

  • Demonstrate financial need
  • Be a U.S. citizen or an eligible noncitizen
  • Have a valid Social Security number
  • Maintain satisfactory academic progress in postsecondary school
  • Show you’re qualified to obtain a postsecondary education

Yes. Most financial aid offices require that you apply for financial aid every year. If your financial circumstances change, you may get more or less aid. After your first year you will receive a “Renewal Application” which contains preprinted information from the previous year’s FAFSA. 

Note that your eligibility for financial aid may change significantly, especially if you have a different number of family members in college. Renewal of your financial aid package also depends on your making satisfactory academic progress toward a degree, such as earning a minimum number of credits and achieving a minimum GPA.

Submit a FAFSA. To indicate interest in student employment, student loans and parent loans, you should check the appropriate boxes. Checking these boxes does not commit you to accepting these types of aid. You will have the opportunity to accept or decline each part of your aid package later. Leaving these boxes unchecked will not increase the amount of grants you receive.

Not immediately. The subsidized Stafford loan has a grace period of six months before the student must begin repaying the loan. When you take a leave of absence you will not have to repay your loan until the grace period is used up. If you use up the grace period, however, when you graduate you will have to begin repaying your loan immediately.

Yes. If you are receiving any kind of financial aid from university or government sources, you must report the scholarship to the Financial Aid Office.

Call the Federal Student Aid Information Center (FSAIC) at 800.4.FED.AID (800.433.3243) or 800.730.8913 (if hearing impaired) and ask for a free copy of The Student Guide: Financial Aid from the U.S. Department of Education. This toll free hotline is run by the U.S. Department of Education and can answer questions about federal and state student aid programs and applications. 

You can also write to:

Federal Student Aid Information Center
PO Box 84
Washington, DC 20044

By calling 800.4.FED.AID (800.433.3243). The online version of the form is available at http://www.fafsa.ed.gov

Send in the form as soon as possible after October 1. If you wait too long, you might miss the deadline for state aid.

If you haven’t received a Student Aid Report (SAR), call the Federal Student Aid Information Center at 800.4.FED.AID (toll free) or 319.337.5665. To find out whether your FAFSA has been processed or to request a duplicate copy of your SAR you must provide them with your Social Security number and date of birth as verification. You can also write to:

 

Federal Student Aid Programs
PO Box 4038
Washington, DC 52243-4038

The formula used to establish a student’s financial aid eligibility is the same for all students; however, in unique situations, the financial aid office may use professional judgment to adjust the formula. These situations may include such things as job loss, unusual medical expenses, or abuse. If you believe that you have a unique situation, please contact financial aid for further guidance.

You will be notified by our Business Office regarding any credit balances on your account. Please see the Credit Balance and Refund page for information on policy and procedures for credit balances.

Satisfactory Academic Progress is calculated at the end of each term. Each degree level has its own criteria of Satisfactory Academic Progress components. Please see Satisfactory Academic Progress page for more information.

The school will determine the amount of aid you have earned based on your withdrawal date and credit your account accordingly. This process is called the Federal Return of Title IV (R2T4) policy. Please see the Federal Refund Policy Return of Title IV (R2T4) section for more detailed information.

Can't find what you are looking for?

Please feel free to contact our Financial Aid office at 312.788.1137 or [email protected]

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Every Gift Matters…

Gifts to VanderCook come in many forms and sizes and each one truly makes a difference. You may wonder how a small contribution can matter to the college – how it can “make a dent.” Combined with other donor gifts, even a relatively minor contribution can make a major impact.

Thank you for your generosity and support!

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The mission of VanderCook College of Music is to enrich the lives of present and future generations by developing uniquely skilled music teachers who exhibit strong character, professionalism, and a commitment to excellence.

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