The various types of federal financial aid offered at Johns Hopkins Peabody Conservatory range from Pell Grants to Direct Student Loans.

Students who complete the Free Application for Federal Student Aid (FAFSA) and meet the eligibility requirements can receive some form of federal aid through the Federal Student Aid program.


  • Be a U.S. citizen or an eligible noncitizen;
  • Have a valid Social Security number;
  • Be enrolled (at least 1/2 time) or accepted for enrollment as a regular student in an eligible degree program;
  • Maintain satisfactory academic progress as outlined in the Peabody catalogue;
  • Not be in default on a Federal student loan or owe money on a Federal student grant;

Types of Federal Aid

Federal Pell Grant

These are direct grants from the federal government that can range from $750 to $7395 per year.  Students must meet strict federal requirements to be eligible.

Federal Work Study

Federal Work Study (FWS) funding is need-based offered to students for part-time employment, generally for on-campus positions; however established community service positions exists.  The wages are paid directly to the student and do not reduce the student’s tuition bill.

Federal Direct Student Loans

The subsidized Direct Student Loan is need-based, so your family contribution is used to determine eligibility. The federal government subsidizes the loan by paying the interest while you are in school. The maximum subsidized amount per year is $3,500 for freshmen, $4,500 for sophomores, and $5,500 for juniors and seniors.

The unsubsidized Direct Student Loan is not based on financial need, although you must complete the Free Application for Federal Student Aid (FAFSA) to obtain the loan. Interest begins accruing on the unsubsidized Federal Direct Student Loan after the first disbursement. While enrolled in school, you and your family may choose to pay all, part, or no interest at all. We encourage students to make interest payments while in school, if possible. The annual maximum a graduate student can receive in Unsubsidized loans is $20,500.   The aggregate loan limit is $138,5000, which includes loans received for undergraduate study. 

The Graduate PLUS Direct Loan is a credit-based loan program available to graduate students, enrolled at least half-time, whose maximum federal loan eligibility is not sufficient to cover their educational costs. A credit check will be performed during the application process. If a student has an adverse credit history and their GradPLUS application is denied, they may still be eligible by obtaining an endorser or appealing the credit decision. GradPLUS borrowers can borrow up to the full Cost of Attendance in combination with other aid and resources. Repayment of a GradPLUS Loan begins 60 days after the second disbursement.

The Parent PLUS Direct Loan is available to parents of students who meets the above eligibility requirements.  A credit review is required, but there is no “debt to income” review. A co-borrower/endorser option is offered if the borrower’s credit is denied. Credit checks are valid for 180 days. Borrowers may complete a credit check at Borrowers apply for the Parent PLUS loan for each academic year individually. Multi-year loans may be consolidated at a later date. The loan amount may not exceed the cost of attendance for the academic year, minus any financial aid that the student is eligible to receive. Borrowers are encouraged to apply for the amount needed for the entire year, not semester by semester.

Loan Terms and Disbursement

  • An origination fee is deducted from each disbursement of the loan.
  • The interest rate is a fixed percent for the life of the loan.
  • Disbursements are scheduled at the beginning of each semester and are deposited directly in the student’s account. 
  • The Low-Res MM program is 13 months and is divided into four semesters – Summer-Fall-Spring-Summer, which equates to two academic years of federal financial aid in order to offer students the option to maximize their federal aid borrowing eligibility.

New and Continuing Borrowers

Along with the Electronic Master Promissory Note and Entrance Counseling, borrowers are required to complete the Annual Student Loan Acknowledgement (ASLA).

To receive your first loan disbursement, completion of the ASLA with the U.S. Department of Education is required. The annual requirement helps you to understand the debt obligation and responsibilities you assume with student loans. If this is your first time accepting a federal student loan, you will review loan data for JHU students and your debt estimate in relation to this data. If you have previously borrowed federal student loans, you will acknowledge that you understand your current debt and remaining loan eligibility.

You must complete your Annual Student Loan Acknowledgment online at