Financial Aid Information
GETTING THE MONEY YOU NEED FOR RECORDING SCHOOL
The Los Angeles Recording School’s Financial Aid Department is here to assist you. Approximately 75% of our students receive some form of Financial Aid during their stay at the Los Angeles Recording School. Each financial aid package is unique to the student's personal situation, and we would like to help you in determining your specific needs.
For students who qualify, the school offers assistance with Federal loans, Federal grants, Alternative loans, and Internal Scholarships. Please check out the sections below to learn more about the specific programs, or to contact our Financial Aid Department to obtain additional details.
1. FAFSA Application
2. Federal Loans
3. Federal Grants
4. Alternative Loans
5. Internal Scholarships
6. External Grant/Scholarship Resources
7. Other Special Programs
8. Entrance/Exit Loan Counseling
9. Contact Us
1. FAFSA APPLICATION
Students must fill out a “Federal Application for Federal Student Aid” (FAFSA) to begin the process of applying for Financial Aid. You can get information about the FAFSA, obtain a PIN, and apply online by visiting their website: www.fafsa.ed.gov. The school code to apply with The Los Angeles Recording School is 026128.
2. FEDERAL LOANS
Students are free to use any lender of their choosing when applying for Federal loans. In order to assist in the research of selecting a lender, we have listed recommendations under each category of loans below. To obtain more information or to apply for these Stafford or PLUS loans, please click on one of the recommended lenders listed in each category or contact an outside lender of your choice for further information.
a. Federal Stafford Subsidized Loan:
This is a Federal loan in which the government pays for all interest while the student is attending school. The student begins repayment on the principal and interest on the loan six months after graduation. 1st year borrowers cannot exceed $3,500.00 in their loan amounts. Student must meet all eligibility requirements per government regulations.
1. Bank of America
2. Sallie Mae Education Trust
3. Wachovia
For more information and a detailed comparison chart on the above lenders, please click here.
b. Federal Stafford Unsubsidized Loan:
This is a Federal loan in which the borrower accrues interest while attending school. The student begins repayment on the principal and interest on the loan six months after graduation. 1st year borrowers cannot exceed $4,000.00 in their loan amounts and only independent students (as defined by the Department of Education) or dependent students with parents denied for the PLUS loan are eligible for this loan type. Student must meet all eligibility requirements per government regulations.
1. Bank of America
2. Sallie Mae Education Trust
3. Wachovia
For more information and a detailed comparison chart on the above lenders, please click here.
c. Parent PLUS Loan:
This is a Federal loan in which the parent is the borrower on the loan. The student must be dependent (as defined by the Department of Education) in order for the parent to apply for this loan. The borrower must be the biological parent or a stepparent that is the spouse of a biological parent. The parent’s credit must be approved in order to obtain this loan, but there are no minimum or maximum levels of borrowing. However, when combining this loan with the student’s other financial aid awards, the parent cannot borrow an amount that would cause the student to exceed their cost of education. Repayment begins 60 days after the final disbursement has been made to the school.
1. Bank of America
2. Sallie Mae Education Trust
3. Wachovia
For more information and a detailed comparison chart on the above lenders, please click here.
3. FEDERAL GRANTS
Pell Grant
This is a grant awarded to students with exceptional need and is money that does not need to be repaid. The exact amount students are awarded is based on the information provided on the FAFSA, with the maximum amount not to exceed $4,310. Students must maintain satisfactory academic progress and meet the eligibility requirements for this grant.
Federal Supplemental Educational Opportunity Grant (FSEOG)
This is a need-based federal grant program for any student with an Expected Family Contribution (EFC) that is below a certain level. The annual award amount is determined by the institution (based on budget and annual funds allocated) and may be up to $500.
4. ALTERNATIVE STUDENT LOANS
Students are free to use any lender of their choosing when applying for alternative loans. In order to assist in the research of selecting a lender, we have listed recommendations under each category of loans below. To obtain more information or to apply for these alternative loans, please click on one of the recommended lenders listed in each category or contact an outside lender of your choice.
Sallie Mae Signature Loan
For more information and a detailed comparison chart on the above lenders, please click here.
5. INTERNAL SCHOLARSHIPS
The Los Angeles Recording School Scholarship
This is an internal $1,000 scholarship provided to one student in each class that demonstrates merit (3.0 GPA or higher at previous institution) and need (less than $50,000 income in previous tax year). Students submit an application with essay and back-up documentation that demonstrates their minimal requirements. Deadline to submit application is registration week and the student recipient is notified of award (based on committee selection) on the first week of class. Students must meet the above minimum requirements in order to apply. Please contact your Financial Aid Officer for an application.
Needs-Based Scholarship
This is a campus-based award given to any student whose EFC is below $1,000. It is awarded automatically and no application is required. The Financial Aid Officer will advise the student if they meet the requirements for this scholarship.
6. GRANT/SCHOLARSHIP RESOURCES
We encourage students to seek outside grants and scholarships. A few resources that you may find helpful include:
Kaplan Scholarships
Kaplan Publishing. Available at kaptest.com and most retail book stores.
Peterson’s Scholarships, Grants & Prizes
Thomson Peterson’s Publishing.
Available at Petersons.com and most retail book stores.
The Scholarship Book
Prentice Hall Press.
Available at penguin.com and most retail book stores.
The following websites may also contain additional helpful information for funding students:
http://www.lib.msu.edu/harris23/grants/3film.htm
http://www.fastweb.com
http://www.srnexpress.com
http://www.collegenet.com/mach25
7. OTHER SPECIAL PROGRAMS
a. Veteran’s Benefits
Benefit amounts vary depending upon which program (chapter) the student is covered by and are paid directly to the student. The first check is normally disbursed to students two to three weeks after school certification of first term attendance. In order to continue to receive Veteran’s benefits, the student must be enrolled in a program of study and maintain satisfactory progress.
Due to the timing of receiving funds and because checks are sent directly to the student, most our VA students will use their funds for living expenses or to pay back a loan that was used to secure tuition at the beginning of the program. For more information, please contact our Financial Aid office or visit the GI Bill website at: www.gibill.va.gov.
b. Vocational Rehabilitation
Several states have government funded programs that enable vocational rehabilitation training for individuals that meet specific guidelines. These guidelines most often include non-traditional students that are entering or re-entering the work force. Vocational rehabilitation programs vary from state to state and are meant to be used after all federal financial programs have been exhausted. Contact your local state agency for more information.
c. Federal Work Study
Work Study is available for eligible students who qualify. Information will be provided during registration week. Interested students are advised to meet with our Work Study Coordinator 30 days after their start to interview for open positions. Students must maintain satisfactory academic progress in order to continue in the Work Study program. It is recommended that students opting for Work Study use it as a means of supplementing their living expenses while completing their education program.
8. ENTRANCE/EXIT LOAN COUNSELING
All students opting to use federal loans as part of their Financial Aid package are required to complete entrance and exit counseling.
Entrance Counseling
The entrance counseling must be fulfilled prior to any funds being disbursed to our school. There are two steps to the entrance interview (online and in-person). You can complete step 1 below (with step 2 to be completed at your registration appointment).
Entrance counseling (to be completed prior to registration):
Online Entrance Counseling
Exit Counseling
Once a student has completed his/her program requirements and is preparing to graduate, it is important that any students with federal loans complete their exit interview. In general, all students must meet with our Financial Aid Coordinator to complete an in-person exit interview. Students with federal loans however, will also need to complete the online exit counseling prior to meeting with Financial Aid. Below is the link to the online component of the exit interview:
Exit counseling (to be completed prior to graduation):
Online Exit Counseling
9. CONTACT US
The Financial Aid Department at The Los Angeles Recording School is open Monday through Friday from 9AM to 6PM and welcomes students to come in and learn more! We encourage you to contact us with any questions you may have regarding your specific situation.
Financial Aid Phone: (323) 464-5200
Financial Aid Email: finaid@larecordingschool.com
