Student Loans for Berklee Students
The Berklee College of Music is one of the premier colleges of music in the country, and stands apart from most music schools and conservatories in that its curriculum focuses on the study and practice of contemporary music, which is pretty cool. Berklee turns out Grammy-award winning artists like it’s no big deal, so you know the education is one that works. The college is located in Boston’s Fenway, an area that is home to a bunch of other schools, including the New England Conservatory, the Boston Conservatory, Northeastern, Simmons College, and the Wentworth Institute of Technology, not to mention several museums, concert venues, and Fenway Park, home of the Red Sox. It’d be hard not to like living and learning at Berklee.
Going to school in the city is expensive, and going to a marquee school is expensive at Berklee, these two factors combine to result in a sticker price of just over $59,000 per year. That eye-popping figure might scare you, unless you’re the heir to a massive fortune or just now won the lottery, but never fear — there are plenty of sources of aid available to help you afford a Berklee education, including the Berklee financial aid program.
About 85% of students receive some form of financial aid at Berklee, with another 58% receiving federal aid and 24% receiving private aid. What this should tell you is that Berklee financial aid packages are good, but not great. The average aid package for a first year student is in the neighborhood of $16,000, with a 50-50 split between loans and grants/scholarships. That can leave a pretty big gap between what you are expected to pay and what you can actually afford.
Filling the Gap Between Berklee Financial Aid and the Cost of Attendance
If you’re in a situation where your Berklee financial aid award doesn’t quite cover all the costs you need it to, you should first turn to federal funding. Federal student aid comes in a variety of forms, from grants to low-interest loans with favorable repayment terms, and should be the first form of aid you pursue outside of your Berklee aid package. If you’re like about one-fourth of the Berklee student body, however, and you exhaust your federal loans but still need more funding, you should consider private student loans as a stopgap measure. Private student loans should be your last resort when it comes to funding, and for
good reason: they have higher interest rates than federal loans, and often have more strict borrowing terms, but you can receive one pretty readily, and should have no trouble borrowing whatever amount you need to cover the remainder of your college costs. To find a student loan that will help you pay for Berklee at the best possible borrowing terms and interest rate, check out our Student Loan Comparison Tool. It will allow you to search, compare, and apply for the private student loan that’s best for you so you can cover the costs of an excellent education at Berklee College of Music.
Are there any grants available for international students at the Berklee financial aid office?
Yes, the Berklee financial aid office offers its international students grant awards. BIG, or Berklee International Grant, is especially for international students who have already completed 60 credits in a degree or 48 credits in a diploma program. The eligibility criteria for this award depends on the student’s financial need, academic accomplishments, financial debt and expected date of graduation. This award is available only once a year and students can access the application form by visiting the Berklee College of music website.
What financial aid options are available at the Berklee College Financial Aid office?
The Berklee College Financial Aid office offers a number of financial aid programs to help students better afford their education. Students can apply for federal loans, grants, scholarships, and work-study by filling out the FAFSA application before the deadline date. Apart from federal aid, Berklee also offers state aid programs, international grants, veteran benefits and institutional aid options. Information about the application procedure and eligibility criterion for these financial options is available on the Berklee College Financial Aid webpage.
Pay for Berklee College of Music*
|Total Avg. Cost||$52,139|
|Room & Board||$15,830|
|Financial Aid Information|
|Students Receiving Fin Aid||76%|
|Typical Grant Amounts|
|Avg. Other Stud. Loans||$23,918|
|%Receiving Other Loans||14%|
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*Data source is the Integrated Postsecondary Education Data System (IPEDS) the data collection program for the National Center for Education Statistics