The LA Music Academy strives to provide equal opportunity to all its students. To this end, the Academy participates in the Title IV Program, a Federal Student Aid program consisting of various grant and loan options. To be eligible, students must enroll in the LA Music Academy’s full-time certificate program and be in good standing regarding other student loans. Students will not be considered if they have defaulted on previous federal student loans or exceeded annual or aggregate student aid loan limits for that particular academic year.

Federal Pell Grants
Federal Supplemental Educational Opportunity Grants (FSEOG)

Subsidized Loan
Unsubsidized Loan
PLUS (Parent) Loan

Student Aid is based on "financial need." Each student (and/or parent) who completes a FAFSA (Free Application for Federal Student Aid) will be expected to contribute an amount toward educational expenses. This amount is called the Expected Family Contribution (EFC). The calculation formula used to determine financial need is mandated by the U.S. Congress. Based on the completed FAFSA application, your family contribution is calculated and reported on a Student Aid Report (SAR), which is then mailed to your home by the Federal processor.

Need for financial aid is calculated by the following:

     Cost of Attendance
-    Expected Family Contribution
------------------------------------------
=   Financial Need

For more detailed information about each of these financial aid programs and more, please visit Student Loan Borrower Assistance.

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.

To apply for Federal Student Aid go to www.FAFSA.ed.gov and enter School Code 038684.

Students who have been approved for Federal Student Aid can complete their Master Promissory Note electronically via Direct Loan’s Electronic MPN website.

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). All financial aid students will be required to pay 40% of their first quarter’s tuition prior to starting classes to cover their costs until they have been deemed eligible to receive their financial aid.

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.

If a prospective student plans to enroll in the LA Music Academy's full-time (40-week) program and desires to apply for financial aid but has attended and received financial aid at a previous institution, he/she 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 a copy of the student's Institutional Student Information Record (ISIR) can be submitted to the LA Music Academy. The transfer student must also cancel all of their remaining federal financial aid disbursements at the previous institution.

Private Loans are alternative loans that are strictly based on credit & income and are not guaranteed by the federal government. Depending on the lending institution, alternative loans may have varying terms and conditions and in most cases carry higher, variable interest rates and are less flexible than federal student aid loans. The Academy recommends that all students interested in private loan programs fully research their lending options and the consistency of the overall terms throughout the life of the loan.

The LA Music Academy does not endorse or promote the use of any one financial lending institution; but to assist you in your research we have listed a few alternative loan sources below:

Career Training Loans are available to eligible U.S. citizens. Loan eligibility is strictly based on credit & income and in many cases students will require the assistance of a co-borrower.

For additional information contact Sallie Mae Financial at
888-2-SALLIE (888-272-5543) or to apply online visit www.salliemae.com.

In 1998, the International Education Finance Corporation (IEFC) developed the Canadian Higher Education Loan Program (CanHELP) to provide funding for Canadian students enrolled in US colleges and universities. There is no other source from which Canadian students can borrow the full cost of their education in US dollars. Visit www.iefc.com for more information.

The LA Music Academy also offers school scholarships to applicants who apply and meet the necessary requirements. Academy-based scholarships are awarded to domestic and international students who demonstrate exceptional musical potential as determined by the scholarship committee. The Academy accepts students and awards scholarships strictly based on talent and does not discriminate anyone based on race, gender, color, national origin, disabilities, age or sexual orientation.

Scholarships are available for incoming domestic and international students who demonstrate exceptional musical potential. Candidates are evaluated on a variety of aspects, including previous school transcripts, letter of recommendation, essay and overall musicality.

Click here for the Spring 2009 Scholarship Application.

All financial aid recipients are required to complete an Exit Counseling Session upon graduation, canceling enrollment or upon dismissal. To complete your Exit Counseling Session click this link: Exit Counseling.

For more information about financial aid or the application process, please email your inquiries to Jaz@lamusicacademy.edu or call (626) 568-8850, ext. 23.