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FINANCIAL AID
The LA Music Academy strives to provide an equal opportunity for enrollment to all of its applicants. In an effort to achieve that goal, the Academy participates in the federally funded Title IV Program which provides Student Aid options consisting of various grants and loans. To be eligible for federal financial aid, all applicants must be U.S. citizens or eligible non-citizens and be enrolled in one of the Academy’s approved programs. An applicant may not be considered for federal student aid if they have previously defaulted on student loans or have exceeded their annual and/or aggregate student loan limits for a particular award year. For more answers to frequently asked questions about Financial Aid, click here. FFEDERAL STUDENT AID PROGRAMS Grants
Federal Pell Grants Direct Stafford Loan Programs
Subsidized Loan Please visit Student Loan Borrower Assistance to get more detailed information about each federal student aid program offered. How To Apply To begin the application process for Federal Student Aid:
Important Reminder: If you and/or your parents (if applicable) are required to file Federal Tax Returns, they must be completed and filed with the IRS in order for you to be eligible for Federal Student Aid. TRANSFER STUDENTS All prospective enrollees of the LA Music Academy who are transferring from another institution and wish to apply for financial aid must call 1-800-4-FED-AID or visit www.FAFSA.ed.gov and add the LA Music Academy's Federal School Code 038684 to the their current FAFSA on file so that the Academy can receive a copy of the student's Institutional Student Information Record (ISIR). Transfer students who apply and are accepted into an approved program at the Academy will be required to cancel all remaining financial aid disbursements at their current institution before any aid can be disbursed at our institution. FINANCIAL AID DEADLINES All FAFSA applications for financial aid must be submitted and received by the Academy’s financial aid office four (4) months prior to the first quarter’s start date for priority processing. All applications received after the initial deadline will be considered late and will fall under the late processing deadline. ELECTRONIC MASTER PROMISSORY NOTE Once a student and/or parent borrower has applied and been approved for Federal Financial Aid, the borrower(s) must then complete an Electronic Master Promissory Note (eMPN). An eMPN is a legal contract between the borrower and lender that states the conditions under which the borrower is accepting the loan as well as the repayment terms the borrower has agreed to. All approved borrowers may complete their Electronic Master Promissory Note by visiting the Direct Loan’s Electronic MPN website. ENTRANCE COUNSELING According to Federal regulations, all recipients of Federal Stafford Loans are required to complete Financial Aid Entrance Counseling before they can become fully eligible to receive their Federal Student Aid Award. To complete your required counseling session, click the following link: Entrance Counseling FINANCIAL AID PAYMENTS Financial aid students are not eligible to receive their first financial aid disbursement until they have been enrolled and attended classes for 30 days and have also maintained passing grades (SAP). If you are a first-time incoming financial aid student, you are required to pay a $400 deposit by the tuition deadline. Students who apply for financial aid after the late processing deadline may be required to pay the entire first quarter’s tuition and fees prior to starting classes until their financial aid has been processed and approved. FINANCIAL AID FORMS:
EXIT COUNSELING All financial aid recipients are required to complete a Financial Aid Exit Counseling Session upon graduation, dropping below half-time enrollment, dropping the program, or upon dismissal. To complete your Exit Counseling Session, click the following link: Exit Counseling. ADDITIONAL FINANCIAL AID RESOURCES
If you need more information about Federal Student Aid or the application process, please email your inquiries to FAinfo@lamusicacademy.edu
or call (626) 568-8850, ext. 17. |
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