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How do I apply for Peabody scholarships?

All prospective students are considered for scholarship at the time of their audition, but we require everyone to submit a financial aid application.  Domestic students should file the FAFSA; https://fafsa.ed.gov and CSS Profile. International students should submit the CSS Profile application.  Any additional documentation will be requested later if necessary.  The CSS Profile application can be found at https://cssprofile.collegeboard.org/ and the code for JHU-Peabody is 5532.

Will Peabody receive any part of the historic gift to Johns Hopkins University from Michael Bloomberg, announced in November 2018?

As a part of Michael Bloomberg’s remarkable gift to Johns Hopkins University, Peabody will receive a $50 million contribution to its endowment. We are thrilled at the potential impact this level of philanthropy can have for talented young musicians and dancers from across the country. The expressed purpose of the gift is to increase access and affordability to undergraduate education for students in the United States. While Peabody’s scholarship system is largely merit-based, this gift will provide new dollars to improve access and affordability for eligible undergraduate students with demonstrated need, beginning with the Fall 2019 admissions cycle.

What do I need to do to be considered for the need-based scholarship funding stemming from Michael Bloomberg’s gift to Peabody?

Students who wish to be considered for the new, need-based scholarship funding made possible by Michael Bloomberg’s gift to the Peabody endowment must submit the same required forms and documents as for any Peabody financial aid. Domestic students should file the FAFSA with Peabody’s school code (E00233) and the CSS Profile application (code is 5532), being sure to meet the February 15th deadline.

I have read that the Bloomberg gift will allow Johns Hopkins to provide financial aid packages that do not include loans and meet full need. Is Peabody going to do the same?

Peabody’s deployment of the Bloomberg gift will differ from the approach Homewood is taking. At Peabody, the Bloomberg funding will be awarded in the form of supplemental grants which, when combined with the potential for merit scholarship, will result in a financial aid package that is reflective of an applicant’s demonstrated financial need. Financial need is calculated and verified through required submission of both the FAFSA and CSS Profile.

If I am awarded a Peabody Scholarship, does the scholarship only cover tuition or can it be applied to other components of my Cost of Attendance?

All financial aid in your award package, including scholarship, can be applied to all allowances in your cost-of-attendance budget, not just tuition. Click here http://www.peabody.jhu.edu/conservatory/financialaid/cost.html  for an explanation of how a cost-of-attendance budget is determined.

How often do I need to apply for financial aid?

Federal and state financial aid is awarded on an annual basis, which means you must renew your FAFSA every year. International students do not qualify for federal or state aid and do not need to re-file a financial aid application.

What is the process of “verification”?

Sometimes students make errors on the FAFSA. The federal government selects a certain number of FAFSAs each year that schools must review for accuracy. The Financial Aid Office will collect additional documentation from selected students to conduct our review and verify the accuracy of information reported on the FAFSA.

Do I need to wait until I have completed my tax return to submit the FAFSA?

No. You should use estimated figures on the FAFSA. It’s more important to meet Peabody’s deadline (February 15th) than to wait and file later.

I am considered a dependent student based on FAFSA’s criteria, my parents will not be financially assisting me. Am I still required to submit their financial information?

Yes. Dependency status is determined by answering a series of questions on the FAFSA. A family’s financial circumstances will not determine dependency of the student.

I probably don’t qualify for aid. Should I apply for financial aid anyway?

We ask all students who are applying to Peabody to file a financial aid application even if you believe you will not qualify for federal need-based aid.

How do I report special financial circumstances that are not reflected on the FAFSA or CSS Profile?

Any special financial circumstances not reported on the FAFSA and/or CSS Profile should be reported in a separate letter/email and submitted to the Peabody Financial Aid Office.

Are international students eligible for financial assistance?

International students are not eligible for federal aid or for the new, need-based scholarship funding stemming from Michael Bloomberg’s gift to Peabody. However, all students — including international students — will be considered for Peabody’s merit scholarship program at the time of the entrance audition.

Who makes decisions about scholarships?

Scholarships are awarded by the Admissions Committee in consultation with the faculty.

What factors will the committee consider when evaluating a student for a Peabody scholarship?

Peabody scholarships are awarded on a “merit-heavy, need-informed” basis. The Admissions Committee will consider the student’s entrance audition, faculty recommendation, and financial need, as well as Peabody’s enrollment needs, and institutional resources. Beginning with students applying for Fall 2019 admission, undergraduate domestic students with demonstrated financial need (as determined by the FAFSA and CSS Profile) will be considered for the need-based financial aid made possible by the historic gift from Michael Bloomberg.

When will students be notified of their financial aid award?

New students will be notified when they receive their acceptance email from the Admissions Office, on or around April 1. Early Decision applicants will be notified by December 15. Returning students will receive their aid packages in mid- to late June.

How many students receive scholarships from Peabody?

Approximately 90% of our incoming students are recipients of institutional gift aid.

Can I receive a Peabody Scholarship along with a Graduate Assistantship?

No. If you are offered and accept a graduate assistantship, any previously awarded scholarship will be rescinded.

Is it possible to be reevaluated (re-audition) for a scholarship as a current student?

Generally, scholarship awards that students receive at the time of their admission will stand for the duration of the degree program. Students cannot re-audition for new or increased scholarship. However, Peabody does have an appeals process to reconsider financial aid in the event of significant changes in family financial circumstances.

What types of financial aid do you offer?

Your financial aid package may include a scholarship, grant, student loans and work-study from federal, state, and institutional sources. Graduate students may apply for assistantships through the Peabody Admissions Office.

If the financial aid offered isn’t sufficient, can I appeal for an increase from the Admissions Committee?

Current Students: Generally, scholarship awards that students receive at the time of their admission will stand for the duration of the degree program. However, Peabody does have an appeals process to reconsider financial aid in the event of significant changes in family financial circumstances. If you experience unforeseen financial hardship after you enroll, contact the Peabody Financial Aid Office to discuss your federal options for loans, grants, and work-study.
Prospective Students: Please contact the Peabody Financial Aid Office and speak to a counselor.

What is the deadline to submit my FAFSA, CSS Profile, or International Student Financial Aid Application?

Peabody’s deadline for applying for financial aid is February 15.

Why is 20% of my graduate assistantship not credited to my tuition bill?

A portion of Graduate Assistantships are subject to U.S. income tax because they are awarded in part as payment for employment. Students will receive the 20% gradually over the academic year in the form of a twice-monthly paycheck. For more information see IRS Publication 970,  www.irs.gov/pub/irs-pdf/p970.pdf  chapter 1, or consult your tax preparer.

Will I receive an additional financial aid award from JHU?

All the individual colleges that comprise Johns Hopkins University are decentralized for financial aid purposes. Students enrolled only at Peabody will receive their entire financial aid package from Peabody. Double degree students will receive their financial aid from the Krieger School of Arts & Sciences/Whiting School of Engineering (Homewood campus).