Financial Aid

Please note that undergraduate federal financial aid awards are typically modest, and can range anywhere from approximately $2,750 to $7,000 per semester, depending on an individual student's financial need and year in college. It is imperative that you plan to supplement federal financial aid with other sources of funding.

Federal Grants (Undergraduate Only)

The Federal Pell Grant and the Federal Supplemental Educational Opportunity Grant (FSEOG)* are federal grants awarded to eligible undergraduate degree and diploma students with high financial need who have not already earned an undergraduate, graduate, or professional degree. 

A student’s expected family contribution (EFC) (in 2024/2025 Federal Need Based Grant eligibility is determined by the Student Aid Index, or SAI) is an automatic calculation based on tax and income information that is used to determine Federal Pell Grant eligibility. Please note that a student’s EFC/SAI and Federal Pell Grant amount can change during the file review and verification process.

Federal Pell Grants are awarded based on course load and may not be available to eligible students who enroll in less than a half-time course load (six credits).

*Note that the FSEOG is a limited fund, issued based on fund availability, with preference given to students who file their FAFSA early and demonstrate high need.

Federal Loans

Any degree or diploma student who files a FAFSA (and is a U.S. citizen or permanent resident) will be automatically considered for federal loan eligibility. There are two types of federal loans: subsidized and unsubsidized. Both are considered self-help financial aid that must be paid back with interest.

• Federal Direct Subsidized Loan (undergraduate only): This is a loan for which the government pays the interest while you are in school, during grace periods, and during any deferment periods.
• Federal Direct Unsubsidized Loan (undergraduate and graduate): This is a loan for which you are responsible for paying all the interest that accrues from the date of the first disbursement until the loan is paid in full.

These loans are available to eligible U.S. citizens or permanent residents attending at least half-time (six credits minimum for undergraduate students; three credits for graduate students) in a semester. Students who enroll in less than half-time will not be eligible to receive federal loans. Loan amounts do not increase if a student is enrolled in more than half-time.

After being awarded, first-time borrowers of federal loans must complete an online master promissory note (MPN) and entrance counseling session in order to be eligible for the loans. 

To determine estimated payback amounts, use a repayment calculator. Please note that the amount of repayment depends on the type of loan you received, the amount you borrowed, the interest rate, and the length of the repayment plan.

Federal PLUS Loan

If you are the parent of a dependent undergraduate student or if you are a graduate student and have completed a FAFSA with Berklee, you can be considered for federal PLUS loan eligibility by applying on the Student Federal Aid website. Independent undergraduate students are not eligible for the federal PLUS loan.

Federal PLUS loans often help cover the gap after any FAFSA-based funds are applied. These programs are offered by the U.S. Department of Education and have lower interest rates relative to some private loan lenders. Borrowers must pass a credit check, though the federal PLUS loan’s credit check is less stringent than other lenders. 

Undergraduate students must be enrolled half-time in a minimum of six credits to be eligible for a PLUS loan. 

Graduate students must be enrolled in a minimum of three credits to be eligible for a PLUS loan.

Enrolling in less than half-time will make a student ineligible to receive any federal loans.

Please review the current federal PLUS loan interest rates.

Borrowers of federal PLUS loans must complete an online master promissory note (MPN) and entrance counseling session in order to be eligible for the loans. Borrowers who have initially been denied a PLUS loan and pursued an endorser may also be required to complete PLUS loan credit counseling.

Entering Students

Berklee is able to offer limited institutional aid to students who demonstrate the highest financial need. Berklee College of Music domestic entering students should submit the CSS Profile to be considered for need-based aid.

Continuing Students

All Berklee College of Music undergraduate students should have a CSS Profile on file by their second semester to be considered for the Thrive Scholarship. Thrive is a Berklee initiative that invests in continuing undergraduate students who have demonstrated academic achievement, demonstrated financial need, and are on track to graduate on time. 

Appeal Funding

A FAFSA or CSS Profile is required for all undergraduate and graduate students who wish to appeal for institutional need-based funding.

Need-based institutional aid is separate from merit-based aid awarded to undergraduate and graduate students through the admissions process.