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Financial Aid Information

financial Aid

Students may be eligible for financial assistance under one or more of the federal programs. These programs include the Federal Pell Grant, Federal SEOG, Federal Direct Stafford Loans, and Federal Direct PLUS Loan. These programs are designed to assist students in meeting their educational expense. Students applying for financial aid are required to complete a Free Application for Federal Student Aid (FAFSA) form. 

The FAFSA Code for ßÏÀÖÔ° is 009029. 

Eligibility

Students must 

• demonstrate financial need for need-based federal student aid programs; 
• be U.S. citizens and eligible noncitizens; 
• have a valid Social Security number (with the exception of students from the Republic of the Marshall Islands, Federated States of Micronesia, or the Republic of Palau); 
• must have a high school diploma, GED, or equivalent 
• be enrolled or accepted for enrollment as a regular student in an eligible degree or certificate program; 
• not be in default on any federal student loan; 
• maintain satisfactory academic progress in college or career school;
• provide consent and approval to have your federal tax information transferred directly into your Free Application for Federal Student Aid (FAFSA®) form;
• sign the certification statement on the FAFSA form stating that you’re not in default on a federal student loan, you do not owe money on a federal student grant, and you’ll only use federal student aid for educational purposes.

Please contact the Financial Aid Office if you have any questions at financialaid@neighborhoodplayhouse.org. 

Types of Federal Student Aid 

Federal Pell Grant

Federal Pell Grants usually are awarded only to undergraduate students who display exceptional financial need, have not reached their limit of lifetime eligibility, and have not earned a bachelor's, graduate, or professional degree. The maximum Federal Pell Grant award is $7,395. To determine your eligibility you must obtain an FSA ID and complete a FAFSA. 

Direct Subsidized and direct unsubsidized loans

The U.S. Department of Education offers low interest loans for students who need assistance with paying educational expenses. Students may be eligible to receive subsidized and unsubsidized loans based on their financial need. Eligibility for subsidized and unsubsidized loans depend on students dependency status, previous loan award history, and calculated SAI as determined by the FAFSA. 

Direct Subsidized Loans are available to undergraduate students with financial need. Interest does not accrue while a student is in school, during a grace period or during in-school deferment. 

Direct Unsubsidized Loans are available to undergraduate and graduate students; there is no requirement to demonstrate financial need. Students are responsible for the interest while they are in school. Students may elect to pay the interest while in school or defer payment until after grace period end. If you choose not to pay the interest, your interest will accrue and be capitalized. 

direct plus loans for parents

Direct PLUS Loans are for parents of dependent undergraduate student to help pay for education expenses not covered by other financial aid. To receive a parent plus loan, you must be the biological or adoptive parent (or in some cases, the stepparent) of a dependent undergraduate student. Parent must not have an adverse credit history and meet the general eligibility requirements for federal student aid. 

Financial aid Steps

Step 1:  Create an Account (This will allow you and your parent(s) to electronically sign your Financial Aid Documentation). You must have a personal email address for Step 1.

Dependent Students should have parent(s) create an FSA ID (you are considered dependent if you are single, have at least one living parent, have no dependents and are under the age of 24)

• Go to:
• Click on: Create an Account
• Click on: Get Started
• Fill out requested information to create account

Step 2: Complete your FAFSA (Free Application for Federal Student Aid)

• Log on to:
• Click on: Login
• Click on: I am the Student radio button and enter your Student’s FSA ID and password < Next < Accept
• Click on: Start FAFSA and follow the instructions given
• Our Federal School Code is: 009029
• Question: Grade Levels Selection: Choose: Never attended college/or attended college before (First Year Student) or 2nd year undergraduate/sophomore
• Question: Type of Degree/Certificate: Choose: Certificate or diploma (occupational, technical or education program of less than two years)

Step 3: Complete loan entrance Counseling (to be completed by student)

• Complete Entrance Loan Counseling – you are an Undergraduate student
• Login:
• Click on: Sign In - Enter your FSA ID and password
• Click on: Hover your mouse over ‘Loans and Grants’ and select ‘Loan Entrance Counseling’
• Click on: Start (In Blue) next to ‘I am an Undergraduate Student'
• Click on: Search for a school and select a ‘NY’ as the state Select: Search School By Name: ßÏÀÖÔ°
• Click on: Add next to the schools name and click continue
• Follow and Read all instructions carefully.

Step 4: Master Promissory Note (MPN)

• Login:
• Click on: Sign In - Enter your FSA ID and password
• Click on: Hover your mouse over ‘Loans and Grants’ and select ‘Master Promissory Note
• Follow instructions given. 

Additional Financial Aid Resources:

 Award Process

Approximately 3-4 business days after submitting the FAFSA online ( The ßÏÀÖÔ°’s Financial Aid Office will receive your FAFSA information in the form of a Student Aid Report (SAR) electronically. Accepted and enrolled students will be contacted by the Director of Financial Aid within 5-7 business days regarding any necessary verification or corrections to the FAFSA information so that a Financial Aid Award Letter can be issued for the academic year they are applying/enrolling to attend. Inquiries and applicants may contact the Director of Financial Aid to request an estimate of their financial aid package prior to application or acceptance and this request will be handled as time allows on a first-come-first-serve basis after accepted and enrolled students are issued their Financial Aid Award Letters.

As your FAFSA information is the basis for determining a student's financial need it is imperative the information be as accurate as possible.

Once the Financial Aid Office has received a valid FAFSA we will then be able to issue you a Financial Aid Award Letter. A valid FAFSA means that the application meets all eligibility requirements, including providing accurate information, having the student and contributors sign it, and submitting it before deadlines. A valid FAFSA results in the student receiving a FAFSA Submission Summary, which contains a Student Aid Index (SAI) used to calculate their financial aid eligibility. All error and reject codes along with verification must be cleared.

No Federal Student Aid eligibility can be fully determined until all FAFSA information is current, accurate and verified. If it has been more than 7 business days since you completed your FAFSA and you still have not received an financial aid award letter please email the Financial Aid Office at financialaid@neighborhoodplayhouse.org.

Please Note: The school only automatically issues Financial Aid Award Letters (after all corrections and errors have been resolved) of students who are accepted or enrolled in the program. If you are interested in applying or are in the process of applying and wish to share your FAFSA information with The ßÏÀÖÔ° using our school code before completing the application process then you should contact Financial Aid and request an estimated Financial Aid Award Letter. Then the FAFSA information for the respective applicant/inquiry will be reviewed, any errors resolved, corrections made, and an estimated Financial Aid Award Letter will be issued stating what Federal Student Aid you would be eligible for should you decide to complete the application process, determined accepted, and enroll to attend.

HOW TO CONTACT THE NEIGHBORHOOD PLAYHOUSE'S FINANCIAL AID OFFICE 

Paula Gregorio
Phone: (212) 688-3770
Email:financialaid@neighborhoodplayhouse.org 

Anthony Reimer
Phone: (347) 896-0800
Email:financialaid@neighborhoodplayhouse.org

Address:
The ßÏÀÖÔ°
Attn: Financial Aid
340 E. 54th Street,
New York, NY 10022

Disbursements of Financial Aid

The Financial Office will disburse your awards in at least two installments (one per payment period). If you're a first-year undergraduate student and a first-time borrower, your first loan disbursement will be made 30 days after the first day of your enrollment period. 

Grant and Loan disbursements are first applied to your direct tuition costs for the designated payment period. Any amount of federal student aid received on behalf of a student (PELL grant, Direct Stafford Loans (SUB/UNSUB), Parent PLUS Loan) exceeding direct tuition costs for the student will be refunded to the student (parent/guardian if applicable to be used for indirect school expenses (i.e. room, board, transportation, etc.).

If you have any questions about disbursements or refund checks for federal aid received above tuition cost, please contact Paula Gregorio, Director of Financial Aid immediately (financialaid@neighborhoodplayhouse.org).

How Much Federal Student Aid Do I Need?

• Click here for the Net Price Calculator.
• And by contacting our Financial Aid Office. 

Satisfactory Academic Progress (SAP)

All recipients of Federal Student Aid must maintain satisfactory progress as defined below or risk becoming ineligible to receive aid.

Students must successfully complete the entire curriculum throughout the first and second year maintaining satisfactory grades/evaluation and attendance. This entails maintaining 2.0/4.0 GPA or higher (the equivalent of a 73/100) and accrue no more than 46.5hrs of absence per payment period.  There is no allowance for a student receiving a failing grade/evaluation or exceeding the maximum absences permitted in any course component of the scheduled curriculum and still successfully maintain satisfactory academic progress in the program.

First Year of the Two-Year Certificate: Professional Actor Training Program encompasses approximately 930 clock hours each year over a 35-week period.

Second Year of the Two-Year Certificate: Professional Actor Training Program: encompasses approximately 930 clock hours each year over a 35-week period.

A student is considered to be making satisfactory academic progress if they attend regularly and demonstrate concentrated, committed study, progress through curriculum, and successfully complete course-work and assignments as evidenced by faculty evaluations/grades issued each payment period for each course. A student who exhibits poor progress in any class will be given a mid-term warning to alert the student that he or she might be failing by the Executive Director. A student who exhibits poor attendance is given a warning and then, if attendance does not improve, placed on probation if they exceed the designated amount of permitted absences or lateness (see Student Handbook Attendance & Lateness Policy). A student accumulating more than 10% absence per payment period (fails to complete at least 465 hours 1^st Year | 465 hours 2^nd Year) may be dismissed unless mitigating circumstances exist and missed coursework, assignments, and instruction can be made-up. Under such circumstances, a student may enroll in a following payment period only in cases where absence has been unavoidable (as in the case of personal or family illness) and they attend make-up classes to cover missed course-work.

Students will be expected to have completed 465 1^st YR | 465 2^nd YR clock hours exhibiting satisfactory progress (2.0/4.0 GPA or higher and less than 46.5hrs of absence) for each payment period they enroll prior to the disbursement of any aid for future payment periods. Failure to complete the payment period with Satisfactory Academic Progress will result in the cancellation of aid unless, through the process of appeal, the student is placed on probation. Should a student fail to make Satisfactory Academic Progress by the end of the probation then future financial aid award will be rescinded.

The standard time frame for the completion of the total 1860 clock hours of the program is two consecutive academic years (over 70 weeks) at which time a certificate of merit will be awarded to confirm successful competition with Satisfactory Academic Progress.

Rights & Responsibilities of Students Receiving Financial Aid

Federal Student Loans come with repayment rights and responsibilities. To learn more before borrowing a loan, please read over the numerous Student Guides (PDF’s, videos, webpages, and more) created by the U.S. Department of Education. Or  

Rights

1     All full-time students accepted and enrolled in the Two-Year Certificate: Professional Actor Training program have the right to be considered for aid if they are eligible according to the US Department of Education standards.
2     Those students who qualify for the Federal Pell Grant have the right to receive the full amount as determined by Student Aid Index (SAI) based on their FAFSA information and enrollment status.
3     Students have the right to complete information regarding financial aid awarded, aid credited to tuition and any obligation such aid may entail.
4     Students have the right to receive detailed truth-in-lending information.
5     All students have the right to receive detailed information in regards to:
â—¦       The School's accreditation
â—¦       The School's program, faculty, & facilities
â—¦       Cost of attendance and refund policy
â—¦       Financial assistance and financial aid personnel
â—¦       Financial aid procedures, deadlines and selection of recipients
â—¦       How financial need is determined and how much has been met
â—¦       Procedure for review of aid if circumstances have been changed
â—¦       How satisfactory academic progress is determined.

Responsibilities

• File the FAFSA or renewal FAFSA by the appropriate deadline each school year.
• Notify the Director of Financial Aid if they do not plan to continue study at the earliest possible date..
• Maintain Satisfactory Academic Progress (2.0/4.0 GPA or higher & less than 46.5hrs of absence per pay period) in the program.
• Notify the School if any FAFSA or related information has changed since FAFSA was made and submitted.
• All recipients are expected to research, read and understand all financial aid policies and procedures.
• Students that have dropped/withdrawn/graduated are required to complete the Student Loan Exit Counseling. .

If the student owes a refund of Federal Student Aid received for study at The ßÏÀÖÔ°, the school will return the designated Financial and no additional funds may be disbursed on behalf of the student until that amount is repaid to the school and the students account balance is $0.00. Students who have received cash disbursement of Federal Student Aid and withdraw from school may owe a refund. The ßÏÀÖÔ° will return the designated Federal Student Aid and the student will be notified of the amount they owe to cover the return of funds. These amounts are determined by Federal regulations. Please see below for the Return of Title IV Funds regulations.

Early Withdrawal, Return of Title IV Funds (Federal Student Aid), and Refunds

Should a student withdraw for any reason while completing less than or equal to than 60% of the scheduled class hours per pay period, then a designated portion of the Federal Aid awarded to the student must be returned to the U.S. Department of Education. The type(s) and amount(s) of Federal Student aid returned will be according to Federal Regulation. This is determined through R2T4 calculation and is in proportion to the number of class hours the student has completed and the total number of class hours the student was scheduled to complete during the payment period of withdrawal. However, should a student withdraw after completing equal to or more than 61%, no federal student aid is required to be returned.

 To keep 100% of the aid awarded, this calculation must be greater than or equal to 61%.

TUITION REFUND POLICY:

Students who must, for whatever reason, withdraw from The ßÏÀÖÔ°, will receive refunds of tuition for the current term/payment period in the following manner:

• Withdrawal prior to the first day of class: 100%
• Withdrawal within the first calendar week from opening date: 85%
• Withdrawal within the second calendar week from opening date: 70%
• Withdrawal within the third calendar week from opening date: 55%
• Withdrawal after the completion of the third calendar week: NONE
• PLEASE NOTE: A non-registration fee of $150 will be deducted from all refunds. Requests for refunds must be made to the Executive Director in writing (see handbook for ‘written notification’ instructions’).

Deferment of Federal Student aid

If you are enrolled in The ßÏÀÖÔ°’s Two Year Certificate: Professional Actor Training program then you are eligible to defer any prior Direct Stafford Loans as you are eligible to do while attending any accredited program at an Institution of Higher Education approved by the US Department of Education (USDE) as such. In order to defer prior loan payments while enrolled in school you must obtain a deferment form from your loan-servicing lender and submit it to the Director of Financial Aid to verify, sign and submit to the appropriate entities.

REPAYING FEDERAL STUDENT LOANS

 They have different repayment plans and lots of valuable resources. 

FINANCIAL AID FREQUENTLY ASKED QUESTIONS

If I have attended college/university but did not graduate, am I still eligible for financial aid?

Again, it depends on several factors. Each applicant and/or student’s situation is unique as your eligibility depends on whether you were awarded undergraduate financial aid previously, the aggregate amount of aid awarded, borrower status, etc. It’s best to complete the FAFSA and add The Playhouse’s school code and then contact the Director of Financial Aid, Anthony Reimer to determine if you are eligible for aid and in what amounts and in what form. 

If I already have earned my undergraduate degree, am I still eligible for financial aid?

If you have a bachelor's degree you are no longer eligible for the Federal Pell Grant and Federal Supplemental Educational Opportunity Grant (FSEOG). However, you might be eligible for the Direct Stafford Loans. 

Will my financial aid cover my tuition?

Financial aid can help cover part or all of your tuition, depending on your eligibility and the types of aid you receive. Some students qualify for grants and loans to cover tuition and living expenses. Please contact the Financial Aid Office for more information.s.

What is The ßÏÀÖÔ° federal school code?

00902900 

Can I pay my tuition with a credit card?

We accept Master Card and Visa. Payments can be for your entire tuition or for a portion of it. However, we discourage paying your tuition on a credit card unless you have the funds to pay it off right away. Credit card interest rates are very high and it could take you years to pay it off. In the long run, it would cost you substantially more than if you used a student loan.

How do I apply for financial aid?

You will need to complete your Free Application for Federal Student Aid (FAFSA) and add the ßÏÀÖÔ°'s school code to your application.

What do I do after I have completed my online FAFSA?

Once you have completed your FAFSA please contact the Financial Aid Office for more information on what you need to do next.

How can I check on the status of my FAFSA?

Call 1-800-433-3243 or    

Where can I find out more information about student loans?

Is there a way to defer payments on student loans from the school(s) I attended prior to attending The Playhouse?

Yes. You must contact your lender to obtain a deferment form. Once you've been accepted and enrolled please submit the deferment form/request to Paula Gregorio (financialaid@neighborhoodplayhouse.org)