Grants

McNally Smith College of Music offers a variety of grant and student loan options for eligible music college undergraduates.

Students interested in loans or aid programs should check with the McNally Smith College of Music financial aid office for personal help and assistance. All music college students are encouraged to apply for financial aid.

All grant and student loan forms are available by clicking the links below, or by visiting the McNally Smith financial aid office.

In order to be considered for any federal financial aid, a FAFSA application must be completed and submitted.

For more info on federal student aid, download the Federal Brochure on Financial Aid.

Federal Grant Application Links

Federal Grant Application (FASFA)
File your federal grant application on-line. This is the first step in applying for aid for college. You will need the School Code for McNally Smith College which is 030012. Includes links to other federal financial aid programs and PIN registration.

Pin Registration
Register for a federal PIN number. This allows you to file a FAFSA on-line and track your federal financial aid information on the internet. Similar to an electronic signature.

You may also be eligible to receive the following federal aid. No separate application is required. Eligible students who have submitted their FAFSA application by the annual deadline will be considered for this aid.

• Federal Pell Grant
• Federal Supplemental Education Opportunity Grant (SEOG)
• Federal Direct Loans
• Federal Work Study

Minnesota State Application Links
Federal and State Financial Aid Estimator

McNally Smith is also approved by The Minnesota Higher Education Services Office to participate in the these programs:

• Minnesota State Grant
• Minnesota Self Loan
• Minnesota State Work Study
• Minnesota Indian Scholarship Program
• Minnesota GI Bill Program
• Minnesota Childcare Grant Program
• Minnesota Achieve Scholarship

Loans

All loan types are monies that must be repaid. Federal Subsidized Stafford Loans have interest subsidies that cover the interest on the loan while the student is in school. All other loan types have interest that accrues from the date of disbursement.

• Direct Loan Program: McNally Smith College of Music participates in the Direct Loan Program which means Federal Loans go through the Department of Education. All Federal Stafford Loans (Subsidized and Unsubsidized), Federal PLUS Loans and Private/Alternative Loans are disbursed in equal increments over two semesters (one academic year). Students must be enrolled at least half-time (6 credits) in each semester in order for the loans to be disbursed. Applicable fees (up to a 3% origination fee and a 1% guarantee fee) will be deducted from the disbursements before they are sent to the school.

Repayment on Federal Stafford Loans begins after the student has been out of school for six months. The repayment process for parent Federal PLUS loans starts after the total amount of the loan has been disbursed (usually after the second disbursement).

• Private/Alternative Loans: For all Private/Alternative loans, the principal amounts are generally deferred until the student is out of school; however, some require interest payments while in school. Please check with the lending institution for interest rates, fees, and repayment.

Student Loan Applications

Students may apply for Federal Direct Stafford Loans, Federal Direct PLUS Loans, and Private/Alternative Loans, offering a list of selected lenders to help students with the decision of choosing an appropriate lender for all of their private student loan needs.  Students may apply on-line using the links below. The school is then notified of the student’s on-line application by the federal processor or servicer (for private loans) and will send in a school certification of eligibility.

For first time Federal Direct Stafford Loan borrowers (Subsidized and Unsubsidized), complete the Master Promissory Note (MPN).

For first time Federal Direct Parent PLUS Loan borrowers, complete the Master Promissory Note (MPN).

• Direct Loan Basics for Students
• Direct Loan Basics for Parents
• Stafford and Plus Direct Loan Request Form (pdf)

All student loan borrowers must complete Student Loan Entrance Counseling before they begin school and Student Loan Exit Counseling at the time of graduation or separation from school.

Entrance Counseling

Exit Counseling

For Private/Alternative loan information and application, CLICK HERE.

Download Private/Alternative Loan Information (pdf)

Additional funds may be available through:

Veterans’ Administration (VA) (including the Yellow Ribbon Program)
My Military Education
Department of Rehabilitation Services (DRS)
McNally Smith College of Music Scholarships