A student loan is an investment in your education. However, because loans must be repaid with interest, taking on educational debt is a decision that must be considered carefully. The Juilliard School encourages responsible borrowing and is committed to providing students and parents with the tools and information needed to make the best possible choices.
Please note: all Federal loans require completion of entrance counseling prior to the first disbursement, providing comprehensive information on the terms and conditions of the loan, as well as the responsibilities of the borrower. A signed Master Promissory Note (MPN) is also required, serving as the document outlining the requirements for repayment. All information related to Federal student loans can be found at www.studentaid.gov.
The Federal Direct Loan
Available to U.S. citizens and eligible non-citizens. In this federal program, students may borrow $5,500 to $20,500 per year, depending on class level. Repayment begins after the grace period after a student graduates, leaves college, or drops below half-time enrollment.
Federal Direct loans may be either subsidized or unsubsidized. Subsidized loans do not accrue interest while the student is enrolled at least half-time; undergraduate students who demonstrate financial need may be eligible. Students with or without financial need may receive unsubsidized loans, which accumulate interest upon disbursement.
Obtaining Federal Student Loans
Federal Stafford loans can be accepted via Cadence Financial Aid, the student self-service system. (A Juilliard login and password is required.) You may wish to wait to request your loans until after bills are generated by the Office of Student Accounts in mid-July. Loan eligibility does not expire until the last day of classes each academic year.
Repaying Your Federal Student Loans
The National Student Loan Data System (NSLDS) can be accessed at nslds.ed.gov. This site allows you to view your total loan amounts, interest rates and servicer information from all schools attended. To determine your monthly payments under different repayment plans, use the calculator on the www.studentaid.gov site or visit your servicer's website. If you have questions about repaying your student loans, please review our repayment information page or contact us.
Private Loans, also called alternative or outside loans, should be the student’s last course of action after any federal loan eligibility is exhausted. These loans usually have variable interest rates and do not offer the same repayment options as federal loans. The Juilliard School does not maintain a preferred lender list and cannot recommend a specific lender. However, we do recommend resources to help students make an educated decision, such as the Student Lending Analytics and Simple Tuition websites. Students should contact the Office of Financial Aid before seeking private loans to ensure all options have been considered.
Loans for International Students
International students wishing to borrow educational loans must seek them from a private bank or credit union. Most lenders require international students to obtain a co-signer who is a U.S. Citizen or Permanent Resident. Unfortunately, the Office of Financial Aid cannot recommend lenders to students, parents or co-signers.
Standards of Ethical Business Conduct
The Juilliard School and its employees are not permitted to engage in revenue-sharing arrangements with any lender, nor can they accept equipment or printing services from loan providers. The Juilliard School and its employees will not steer borrowers to particular lenders or delay loan certification.
The School prohibits employees and agents of the school from:
- receiving gifts from a lender, guaranty agency, or loan servicer;
- accepting compensation for any type of consulting arrangement or contract to provide services to or on behalf of a lender relating to education loans; or
- serving on an advisory board, commission, or group established by lenders or guarantors, except for reimbursement for reasonable expenses.
This statutory prohibition is implemented in 34 CFR 682.212.