Student Aid & Veteran’s Benefits are available to those who qualify.
Roberto-Venn School of Luthiery is accredited by the Accrediting Commission of Career Schools and Colleges (ACCSC), and participates in several Federal Student Aid programs. Veteran’s benefits may be available if you meet certain requirements. For your information, here is a brief overview of these programs:
As the name implies, the PELL grant is direct funding from the government. It does not need to be repaid like a student loan, and carries no interest charge.
The student must demonstrate financial need to receive a Pell grant. The amount of the award is calculated by the government, based on the student’s financial need.
This program is not available to students who already have a Bachelor’s (or higher) degree.
For the 2020 -2021 academic year, the maximum PELL Grant award available to our students is $4,881.
FEDERAL DIRECT SUBSIDIZED AND UNSUBSIDIZED LOANS
Stafford Loans are loans made available to students by the Federal Government to pay for their education. These loans, unlike PELL grants, do accrue interest and must be paid back in full. There are two different types of Stafford Loans available, and a student may qualify for one or both. Stafford loans are subject to a 1.057% origination fee.
The interest rate of 2.75% is fixed for loans 1st disbursed on or after July 1, 2020.
A student must demonstrate financial need to receive a subsidized Stafford loan.
The Federal Government pays the interest on loan until six months after the student graduates, withdraws, or drops below half-time attendance, or in times of approved deferment.
Repayment begins six months after the student graduates, withdraws, or drops below half time.
For the 2020-2021 academic year, the maximum Subsidized Federal Stafford Loan for qualified R-V students is $2,692.
The Subsidized Loan is subject to a 1.057% origination fee.
The interest rate of 2.75% is fixed for loans 1st disbursed on or after July 1, 2019.
This loan is not need-based, but it is only available to independent students or dependent students whose parents apply for but are denied a PLUS loan to pay for their education.
Accrued interest could be capitalized (added to the principal of the loan). Capitalization occurs at different intervals depending on the lender’s policy.
Repayment: Begins six months after student graduates, withdraws, or drops below half time.
For the 2020-2021 academic year, the maximum Unsubsidized Federal Stafford Loan for qualified R-V students is $4,615 (this amount includes additional unsubsidized Stafford loan eligibility).
The Unsubsidized Loan is subject to a 1.057% origination fee.
PARENT LOAN FOR UNDERGRADUATE STUDENTS (PLUS)
This is a loan taken out by the parent to pay for the a student’s education, and the parent, not the student, is responsible for repaying it.
Interest rate is fixed at 5.30% for the life of the loan.
This loan is not need based, but it cannot exceed the student’s Cost Of Attendance (COA) less other financial aid awarded during the period of enrollment.
Interest begins accruing immediately upon disbursement of funds.
Repayment begins on the date the last disbursement is made. The first payment is due within 60 days after the loan is fully disbursed.
The PLUS Loan is subject to a 4.228% origination fee.
The GI Bill can help qualifying Veterans and their family members cover all or some of the costs for Roberto-Venn training.
Once you have completed the FAFSA you will receive an award letter via email from Roberto-Venn. This award letter will inform you of the grants and or loans you may be eligible for and will also include a student budget summary.
STEP 3: ENTRANCE LOAN COUNSELING
In order to secure your loan it is required that you complete the entrance loan counseling to ensure that you understand your financial obligations as a borrower. Once this is complete you need to fill out the MPN (Master Promissory Note).
Dumond’s Custom Furniture Scholarship For The Arts
Dumond’s Scholarship for the Arts was established to support students who are majoring in disciplines within the arts. The scholarship is for students pursuing a degree in the Arts who show dedication to their craft and a desire to achieve excellence in their field of study. The award amount is $1,000.
This site provides a search engine for a database of many of private and public scholarships available to students in different programs. While Roberto-Venn’s program is highly specialized and is difficult to match with scholarship categories, students who do not qualify for Federal Student Aid or who are in need of additional funding might want to try this search.