To retain aid at Peabody, students must be enrolled full-time and maintain satisfactory academic progress.
Undergraduate students must achieve a cumulative and term grade point average of at least 2.0, earn a grade of at least B- in major area enrollments (lessons, juries, recitals, hearings) and undergraduate students are encouraged to earn 30 credits each year they are enrolled at Peabody.
Graduate students must achieve a cumulative and term grade point average of at least 3.0, earn a grade of at least B- in major area enrollments (lessons, juries, recitals) and complete enough credits each year as follows: MM/MA/DMA students: 18 credits; GPD/AD: 8 credits.
Peabody scholarships are awarded at the time of admission based on talent and merit. The amount of Peabody Scholarship remains the same throughout a student’s program for only the published length of the program, though Title IV aid may change based on a yearly assessment of financial need and satisfactory academic progress. Peabody Scholarships will not increase in subsequent years and students cannot re-audition in the same program for a new scholarship or to increase their current scholarship. Completing a successful jury is a requirement of satisfactory academic progress and will not result in a Peabody Scholarship award or increase. In special circumstances, scholarships can be applied to all allowances in your cost-of-attendance budget, not just tuition. For more information, request support through SEAM’s online form.
Special Note: Students beginning a Graduate Performance Diploma (GPD) who have completed a previous degree at Peabody are eligible for only 1 year of scholarship in the GPD. Doctor of Musical Arts (DMA) students are eligible for institutional aid (including graduate assistantships) during the 2-year residency portion of their full-time enrollment only. DMA students are not eligible for institutional aid once they move into DIP (Degree-in-Progress) status.
The Financial Aid Office is required by federal statute to recalculate federal financial aid eligibility for students who withdraw, drop out, are dismissed, drop to less than half time status, or take a leave of absence prior to completing 60% of a payment period or term. The federal Title IV financial aid programs must be recalculated in these situations.
If a student leaves the institution prior to completing 60% of a payment period or term, the financial aid office recalculates eligibility for Title IV funds. Recalculation is based on the percentage of earned aid using the following Federal Return of Title IV funds formula:
Percentage of payment period or term completed = the number of days completed up to the withdrawal date divided by the total days in the payment period or term. Any break of five days or more is not counted as part of the days in the term. This percentage is also the percentage of earned aid.
Funds are returned to the appropriate federal program based on the percentage of unearned aid using the following formula: Aid to be returned = (100% of the aid that could be disbursed minus the percentage of earned aid) multiplied by the total amount of aid that could have been disbursed during the payment period or term.
If a student earned less aid than was disbursed, the institution would be required to return a portion of the funds and the student would be required to return a portion of the funds. Keep in mind that when Title IV funds are returned, the student borrower may owe a debit balance to the institution.
If a student earned more aid than was disbursed to him/her, the institution would owe the student a post-withdrawal disbursement which must be paid within 120 days of the student’s withdrawal.
The institution must return the amount of Title IV funds for which it is responsible no later than 30 days after the date of the determination of the date of the student’s withdrawal.
Institutional Aid (Peabody Scholarships and grants) are subject to the Peabody Conservatory’s refund policy. Contact the Peabody Registrar’s office for additional information.
Students who receive federal student financial aid must, in accordance with federal, state, and institutional requirements, be in good standing and maintain Satisfactory Academic Progress (SAP) toward obtaining their degree or certificate. Under Federal Title IV law, the college’s SAP requirements must meet certain minimum requirements, and be at least as strict as the college’s standards for Good Academic Standing. This policy applies to students applying for financial aid for semesters/periods of enrollment that begin on July 1, 2011 or after. Students receiving institutional scholarship may have additional requirements and should refer to their award notification.
The federal government requires that an institution use three measurements to determine SAP: qualitative, quantitative, and maximum timeframe. The student must maintain a minimum cumulative grade point average, term grade point average, maintain a minimum cumulative completion rate of credits attempted, and complete a degree or certificate within a maximum timeframe set by law. The standards used to evaluate academic progress are cumulative and, therefore must include all periods of the student’s enrollment (even periods during which the student did not receive funds).
What is Our Financial Aid SAP Policy?
To be able to receive federal financial aid at the Peabody Institute, students must demonstrate satisfactory progress toward their academic objectives, as measured by:
Treatment of W, I, AU, F, S, and P Grades, No Grade Reported and Repeated Coursework
How do classes taken at another institution and transferred to our schools affect a student’s SAP?
All credits accepted for transfer to the student’s program of study by Peabody Institute are taken into consideration under the quantitative measurement component of SAP as both attempted and earned credits. Grades earned at other institutions are not, however, counted when computing the student’s GPA.
How does a change of major impact a student’s SAP evaluation?
For students who change majors within their degree program, only those credits attempted which apply to their new major are included in evaluation of SAP status. All coursework is included in the calculation of GPA as required under federal law.
How does remedial coursework and ESL coursework impact a student’s SAP evaluation?
Remedial coursework and ESL coursework is included in the calculation of the GPA as required by federal law but is not included in the determination of the student’s completion rate.
How often is a student’s SAP reviewed and how are students notified?
Financial aid recipients are reviewed for SAP at the end of each traditional semester of enrollment (Fall, Spring, Summer). Letters are mailed to students who do not meet the SAP standards and are placed either in a warning status or who lose eligibility.
Financial Aid Warning Status
Grades from all coursework attempted at Peabody are included in the GPA calculation. For fall and spring semesters, undergraduate students must complete at least 12 credit hours, earn a 2.0 GPA or better for the term as well as a 2.0 cumulative GPA or higher and maintain their pace completion rate. Students receiving financial aid for the first time will be placed on Financial Aid Warning if they did not meet the minimum grade point average and course completion based on the previous period of enrollment prior to applying for financial aid. Students who fail to meet the minimum cumulative grade-point average standards 2.0 for undergraduates and 3.0 for graduate students will be placed on Financial Aid Warning for the subsequent semester/period of enrollment. Financial aid recipients must maintain a cumulative completion rate of earned credits equal to or exceeding 67% of the credits attempted. Students must also complete the required course work within 150% of the published program length. Students will be placed on warning, probation, or suspension for failing to meet the term GPA, cumulative GPA, cumulative pace or term completion requirements based on the published policy.
Financial Aid Suspension – Losing Title IV Eligibility
Students who, while on Financial Aid Warning, fail to maintain the minimum term GPA, the cumulative GPA, and the pace completion rate will be placed on Financial Aid Suspension status for subsequent semesters/periods of enrollment. Undergraduate students must maintain a minimum 2.0 cumulative GPA on a 4.0 scale and Graduate students must maintain a 3.0 GPA.
Students who did not meet the minimum cumulative GPA, term grade point average, or course completion standards as noted in this policy will be placed on Financial Aid Suspension and will not be eligible for financial aid based on previous periods of enrollment prior to applying for financial aid. No financial aid will be disbursed during subsequent semesters/periods of enrollment until the student regains financial aid eligibility.
Reinstatement of Aid After Financial Aid Suspension Status
Reinstatement of financial aid after a student is placed in Financial Aid Suspended status is achieved in one of the following ways:
1). The student submits a written letter of appeal and the Financial Aid Appeals Committee grants the appeal. The student is placed on Financial Aid Probation and is eligible for Title IV aid during their Financial Aid Probation status if they appeal they appeal with an Academic Plan. The plan should ensure the student is able to meet the SAP standards by a specific point in time if it is followed properly.
2). The student registers for coursework while on Financial Aid Suspension status, pays for tuition and fees without the help of student financial aid, and does well enough in the coursework to satisfy all the financial aid satisfactory academic progress standards at the end of the subsequent semester(s)/period(s) of enrollment.
*Students who are beyond the maximum timeframe to completion may only regain financial aid eligibility on a semester-by-semester basis through the appeal process.
The student must submit an appeal of Financial Aid Suspended status in writing to the Financial Aid Appeals Committee by the date specified in the Financial Aid Suspended notification letter. The committee will review the appeal and notify the student in writing of their decision within 14 working days after the Appeals Committee meets and makes its determination. Appeals should include:
The Financial Aid Appeals Committee will review the appeal and consult with academic advisers and other involved parties as appropriate. If it is determined that the student will not be able to meet the SAP standards by the end of the next semester/period of enrollment but the Committee is in agreement that the student’s grounds for appeal are reasonable and the student has a reasonable chance to succeed and graduate, then if the appeal is approved. The student will also be placed on an Academic Plan. Students will receive written notification of the decision. All decisions on such appeals are final. Students who lose eligibility for financial aid due to not meeting the minimum SAP standards more than one time during their program may submit an appeal here: SAP Appeal Form.
Students who lose eligibility and submit an appeal may be placed on an Academic Plan if the appeal is approved. The purpose of an academic plan is to support the student in bringing himself or herself back into compliance with the financial aid SAP standards to ensure the student will be able to successfully complete their degree or certificate program. The academic plan will be specifically tailored to the student and may include milestones and specific requirements such as a reduced course load or specific courses.
Is financial aid probation the same as academic probation?
No. Federal financial aid recipients must meet the financial aid satisfactory academic progress standards, which is at least as stringent as the schools’ academic policy standards, in accordance with federal Title IV law. Students should consult the Standards for Good Academic Standing for more information on that standard. Students on academic probation may also be on Financial Aid Suspension or Financial Aid Probation status, or they may not be.
Where can students get more information?
For questions or to request support, please use SEAM’s online form or call us at at 667-208-6590.