Circle in the Square Theatre School is designated by the U.S. Department of Education as an Institution of Higher Learning and therefore able to participate in the following Federally-funded aid programs: the Pell Grant Program, the Federal Supplemental Educational Opportunity Grant (FSEOG) Program, the Federal Work-Study Program (FWS), the Federal Stafford Loan Program (both subsidized and unsubsidized) and the Federal PLUS Loan Program. Only United States citizens enrolled in the Professional or Musical Workshop Programs are eligible to apply for government funding. Summer Workshop students are not eligible.
Below is some general information about Financial Aid as it relates to Circle in the Square Theatre School. However, it is recommended that any potential student fully research and explore all available information to best understand the process. A copy of The Student Guide, created by the U.S. Department of Education, is available online at http://studentaid.ed.gov/guide.
A comprehensive site for researching your options is available on their main page at http://studentaid.ed.gov.
* If you have any problems filling out your F.A.F.S.A., please call 1-800-4-FED-AID for help.
* You will need a copy of your previous year's Federal Income Tax return (as well as your parents' if you are 23 years of age or younger).
* NOTE: Make sure you answer "NO" for Question #48 on the FAFSA. For purposes of Financial Aid, the DOE recognizes Circle as "Undergraduate" level study, regardless of whether you have received a Bachelor's Degree.
* The Department of Education Institution Code for the Circle in the Square Theatre School is 014760. It is imperative that you give FAFSA our School Institutional Code so that we are also sent a copy.
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Award Process
Approximately four weeks after mailing the FAFSA, the applicant will receive a Student Aid Report (SAR). If you gave FAFSA our Institutional Code (#014760), then our Financial Aid Administrator should be able to draw down a copy for the school as well. When you receive your copy of the SAR, make sure you review all information and make any corrections it asks for. Corrections can be made on this paper version and sent back for reprocessing, or corrections can also be done electronically at the FAFSA website. This Report serves as the basis for determining a student's financial need, therefore it is imperative the information be as accurate as possible.
Once the SAR has been received by our Financial Aid Administrator, a tentative assessment of the student's award is made, according to the requirements of the Federally-funded programs, the amounts of funds available, other sources of aid available to the applicant, and other relevant information. On some occasions, the information reported on the SAR is selected for a process called Verification, wherein some information on the SAR requires checking some additional information from the applicant. Final award decisions are made in consultation with the Theatre School Director. After final decisions are made, all applicants receive a final award letter which details the amounts and types of financial aid they are eligible receive. The student then needs to follow all instructions on the award letter and the accompanying paperwork to be able to follow through and receive your financial aid.
Again, no award can be fully determined until receipt of a valid, final SAR.
Students may appeal these awards in writing.
If it has been more than four weeks since you completed your F.A.F.S.A. and you still have not received an award letter from Circle, please contact F.A.F.S.A. (1-800-4FED-AID/1-800-433-3243) to be sure that your application is actually complete. Sometimes a missing signature or some other small piece of information can prevent your application from being finalized. Once you have confirmed with F.A.F.S.A. that everything is complete on your end, please feel free to email us at financialaid@circlesquare.org.
Please Note: The school draws down the SAR's of students who are accepted to the program only. If you complete your F.A.F.S.A. using the Circle school code before being accepted, you will need to contact us upon your acceptance to let us know that you had previously completed your F.A.F.S.A. so that we will know to process your SAR.
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Types of Federal Aid
NOTE: Eligibility for Federal Aid can only be determined by completing the FAFSA.
Federal Pell Grants – The Pell Grant is offered by the Federal Government to qualifying students attending any eligible school. To qualify for this grant, the student (enrolled in an eligible program) must be a U.S. citizen and not already have earned a bachelors degree. If the student is eligible for a grant, this will be indicated on the Student Aid Report (SAR). Grants of up to $5500.00 are made to eligible students as determined by the guidelines set by the Department of Education. Recipients are notified of the amount of their Federal Pell Grant on their Financial Aid Award letter. Students may be eligible to receive Federal Pell Grants for the duration of time required to complete their first undergraduate course of study.
Federal Supplemental Educational Opportunity Grants (FSEOG) – The FSEOG is a school-administered government grant program. Dependent on available funds as allotted by the Department of Education, grants of a minimum of $100 to a maximum of $4,000.00 are made to students who demonstrate exceptional financial need. Similar to the Pell Grant, eligible recipients must be a U.S. citizen and not hold a bachelors degree. Priority for FSEOG is given to Pell Grant recipients. Students may be eligible to receive FSEOG for the duration of time required to complete their first undergraduate course of study.
Circle in the Square Theatre School Grant – The Circle in the Square Theatre School Grant is awarded to SEOG eligible students. Students are selected during the school year, based on the school's determination of the student's demonstrated need and the available funds.
Federal Work-Study Program (FWS) – The Federal Work-Study Program is a school-administered government work program. This program is available to students regardless of whether or not they already hold a bachelors degree. FWS provides students with jobs at an hourly wage commensurate with their skills and the job assignment. Recipients must be U.S. Citizens and demonstrate financial need. Awards are determined by the amount of FWS funds available as compared to need demonstrated. If you are enrolled student and the FWS Program is of particular interest to you, be certain to contact the school office to inform them of your interest.
Federal Stafford Loans (**See Note) – Federal Stafford Loans are low-interest loans. To be eligible for a Federal Stafford Loan, a student must be a U.S. citizen or permanent resident. There are two categories of Federal Stafford Loans: Subsidized and Unsubsidized. Eligibility for subsidized and unsubsidized loans depend on the students' dependent/independent status, and how many years of study they have completed.
- Federal Stafford SUBSIDIZED Loans are low-interest loans for financially needy undergraduate and graduate students. Interest does not accrue on the loan while the student is in school. Repayment on a Subsidized Loan begins six months after the student completes the program or leaves school.
- Federal Stafford UNSUBSIDIZED Loans are low-interest loans for undergraduate and graduate students. Students are responsible for the interest over the life of the loan, including the time when they are enrolled in school. Students may elect to pay the interest while in school or defer during the time of enrollment and allow the interest to accrue. Repayment on an Unsubsidized Loan begins six months after the student completes the program or leaves school.
MAXIMUM STAFFORD LOAN LIMITS
As of 2010-2011 School Year
Eligibility for Stafford Loans depends on dependent/independent status, how many years of study they have completed, and can only be determinded by completing the FAFSA. |
|
Subsidized |
Unsubsidized |
| 1st Year Dependent Student |
$3,500
|
$2,000 |
| 2nd Year
Dependent Student
|
$4,500
|
$2,000 |
1st Year Independent Student
(and dependent student whose parents are unable to obtain a PLUS loan)
|
$3,500
|
$6,000 |
2nd Year Independent Student
(and dependent student whose parents are unable to obtain a PLUS loan)
|
$4,500
|
$6,000 |
Dependent Cumulative Maximum Stafford Debt
(Aggregate Limit)
|
$23,000
|
$31,000 |
Dependent Cumulative Maximum Stafford Debt
(Aggregate Limit)
|
$23,000
|
$34,500 |
Federal Parent PLUS Loans (**See Note) – Federal PLUS Loans are loans to parents for college expenses of their undergraduate, dependent children. Parents must be U.S. Citizens and not in default on any other type of loan. Eligible parents of dependent students can take out up to the full cost of attendance minus any other received financial aid (i.e. Pell Grant, FSEOG, etc.). Parents who apply have to pass a credit check. If they don’t pass, they might still be able to receive a loan if they can demonstrate that extenuating circumstances exist, or if someone they know — who can pass — agrees to endorse the loan and promises to repay it if your parents don’t. Generally, repayment begins within 60 days after the loan is fully disbursed (paid out). There is no grace period for these loans. This means interest begins to accumulate at the time the first disbursement is made. Your parents must begin repaying both principal and interest while you're in school. If a parent finds they are ineligible for the PLUS Loan due to failing a credit check, the student becomes eligible to apply for additional Unsubsidized Stafford Loan money.
**NOTE: Stafford Loans (both subsidized and unsubsidized) and Parent PLUS Loans are now made only through the U.S. Department of Education Direct Loan Program:
- William D. Ford Federal Direct Loan (Direct Loan) Program - Eligible students and parents borrow directly from the U.S. Department of Education at participating schools. Direct Loans include subsidized and unsubsidized Direct Stafford Loans (also known as Direct Subsidized Loans and Direct Unsubsidized Loans), Direct PLUS Loans, and Direct Consolidation Loans. You repay these loans directly to the government. For more information about Direct Loans, please visit http://www.ed.gov/offices/OSFAP/DirectLoan/index.html and check out this brochure on Direct Loans: Direct Loan Student Basics
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Disbursements
The School Office will disburse your loan in at least two installments; no installment will be greater than half the amount of your loan. If you're a first-year undergraduate student and a first-time borrower, your first disbursement can't be made until 30 days after the first day of your enrollment period.
Loan disbursements are first applied to your tuition account. The amount that exceeds your tuition balance will be refunded to you for living expences.
Federal Pell Grants, Federal SEOG Grants, and Circle in the Square Theatre School Grants are disbursed in the form of a credit to the student's tuition account in equal amounts for the Fall and Spring semesters. Amounts in excess of tuition due are disbursed directly to the student after tuition has been paid in full.
Federal Work Study funds are disbursed in the form of checks, which are disbursed after the 1st and 15th of each month, made payable to the student for the 75% Federal and the 25% School share of compensation.
If you have been enrolled in school for 30 days and you have not received a disbursement from the Circle in the Square Office, please let us know so that we can look into the issue.
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Satisfactory Progress
All recipients of Financial Aid must maintain satisfactory progress as defined below:
Students must complete the entire curriculum at all levels. There is no allowance for an incomplete participation in any facet of the prescribed curriculum. This encompasses approximately 962 clock hours each year (840 class hours plus a minimum of 122 supervised lab hours of rehearsal and tutorial) over a 32-week period. A student is considered to be making satisfactory progress when regularity of attendance, ability to concentrate and commitment to study are verified by the faculty evaluation of the 481 clock hours of student work at the end of each term for Fall and Spring. Mid-year warnings or probation are issued to students whose work is not satisfactory. The lack of completion of the 481 hour term's work may be the cause for dismissal. Make-up work is arranged only in cases where absence has been unavoidable, as in the case of personal or family illness, and only in classes where it is possible for the work to be made up.
Generally, there will be two disbursements of financial aid for the year and students will be expected to have completed the 481 clock hours for each term prior to the disbursement of any aid. The lack of completion of the 962 clock hours within a 12-month time frame is cause for dismissal of the program and termination of any further financial aid. If, through the process of appeal and/or the completion of the 962 clock hours before the end of the 12-month period, a student is reinstated into the program, eligibility to receive financial aid will also be reinstated. The standard time frame for the completion of the total 1924 clock hours of the program is 24 months, at which time a certificate will be awarded to confirm successful completion.
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Rights and Responsibilities of Students Receiving Financial Aid
Federal Student Loans come with repayment rights and responsibilities. To learn more before borrowing a loan, please read The Student Guide created by the U.S. Department of Education, available online at: http://studentaid.ed.gov/guide
Rights
- All Professional and Musical Workshop students have the right to be considered for aid.
- Those students who qualify for the Federal Pell Grant have the right to receive the full amount as determined by index and enrollment status.
- Students have the right to complete information regarding financial aid awarded, aid credited to tuition and any obligation such aid may entail.
- Students have the right to receive detailed truth-in-lending information.
- All students have the right to receive detailed information in regards to:
- The School's accreditation;
- the School's program, faculty and facilities;
- cost of attendance and refund policy;
- financial assistance and financial aid personnel;
- financial aid procedures, deadlines and selection of recipients;
- how financial need is determined and how much has been met;
- procedure for review of aid if circumstances have been changed;
- how satisfactory progress is determined.
Responsibilities
- To continue to receive aid the student must file the FAFSA or renewal FAFSA by the appropriate deadline each year.
- Aid recipients must notify the Financial Aid Administrator if they do not plan to continue study at the earliest possible date.
- Federal Stafford Loan recipients must have an entrance interview and an exit interview prior to leaving the School.
- Aid recipients must maintain satisfactory progress in the program.
- All students receiving aid from Federally-funded programs must:
- If male, confirm that the student has registered with Selective Service, if required to do so;
- submit a valid Student Aid Report (SAR) before May 1 of the year for which a Pell Grant is awarded;
- confirm that he or she is not in default on any Federally-funded loan and does not owe a refund of any Federally -funded grant received for attendance at any institution;
- complete the verification process within the deadline given in order to receive aid;
- notify the School if any information has changed since financial aid application was made.
- All recipients are expected to research, read and understand all financial aid policies and procedures.
If the student owes a refund of Federally-funded aid received at the School, no additional funds may be disbursed until that amount is repaid. Students who have received cash disbursement of Federally-funded aid and who withdraw may be required to repay a portion thereof to the Federal program. These amounts are determined by Federal regulations. Please see below for these regulations.
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Early Withdrawal Regulations and the Return of Federal Aid
Should a student withdraw for any reason before completing 60% of the term, a portion of the Federal Aid awarded to the student must be returned in proportion to the number of days in the semester that the student has completed. However, should a student withdraw after completing 60%, no aid is required to be returned.
| Percentage of Earned Aid = |
Number of School Days Completed in the Term |
|
| Total Number of Days in the Term including Weekends |
To keep 100% of the aid awarded, this calculation must equal 61%.
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Deferment
If you are enrolled as a full-time student at Circle in the Square Theatre School in one of our Professional Workshops, you are eligible to defer any prior federal student loans you may be currently repaying. In order to defer your payments while in enrolled at Circle, you must obtain a deferment form from your lender and bring it in for the Circle administration to sign and verify. For more information on deferment, please click here.
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Contact the Financial Aid Office
Financial Aid Officer –
Sally Lelong
Financial Aid Assistant –
Virginia Tuller
The best way to contact the financial aid office is by email since Sally Lelong, our Financial Aid Officer, works for several different schools and is not at Circle in the Square every day.
Email –
financialaid@circlesquare.org
Address
Circle in the Square Theatre School
Attn: Financial Aid Office
1633 Broadway
New York, NY 10019
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