Supplemental financial assistance is awarded at The Curtis Institute of Music on the basis of financial need for living expenses and is in addition to the merit-based full-tuition scholarship all students receive. Before turning to Curtis for supplemental aid, students are expected to seek assistance from non-Curtis sources, including grants, loans, and scholarships available through private, public, and other sources.

Curtis Supplemental Financial Assistance Policy
Definitions and Policies
Travel Money and Tickets
Check Validating

CURTIS SUPPLEMENTAL FINANCIAL ASSISTANCE POLICY
Any student who demonstrates financial need will be awarded adequate assistance to attend school. No student will have to leave Curtis solely because of financial need. Financial assistance for living expenses is based solely on need.

Students who require supplemental financial assistance for living expenses are expected to contribute to their own educational financing by taking low-interest loans. In addition students are expected to work and earn as much of the assistance as possible, artistic and academic schedules permitting. Curtis supplemental grants may be included in a financial assistance package if there is remaining need after the awarding of loans, on-campus employment, and/or lab orchestra.

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DEFINITIONS AND POLICIES
The following definitions and policies are stated in accordance with regulations of the U.S. Department of Education's Title IV Higher Education Assistance (HEA) funding programs. These definitions and policies apply to all financial assistance awarded by The Curtis Institute of Music.

Academic year. The academic year is composed of two semesters consisting of fifteen weeks each, for a total of thirty weeks of instruction. In order to be eligible for Title IV Higher Education Assistance (HEA) funds, full-time undergraduate students are expected to complete a minimum of twenty-four semester-hours and full-time graduate students are expected to complete a minimum of eighteen semester-hours during this period. Federal regulations require that a student complete the program of study within 150 percent of the published definition of an academic year.

Satisfactory academic progress. Federal requirements stipulate that a student receiving U.S. Government funding (loans and/or grants) must maintain a minimum cumulative grade point average (GPA) of 2.00 and must make progress toward completion of his or her degree. Any student whose course completion or GPA falls below the minimums will be on probation during the subsequent semester for purposes of federal funding. Students will be informed in writing if a probation period applies. The annual minimums must be achieved by the conclusion of the next term in order for the student to again be eligible for federal funds for the next term.

All students are subject to the following academic policies as stated in the Student Handbook under the title "Scholastic Standing":

Students are on probation during the entire period of their enrollment at Curtis. Students are expected to progress according to the standards of the faculty and to adhere to the rules of The Curtis Institute of Music. Students in the Bachelor of Music program must maintain at least a 2.0 grade point average in musical studies and liberal arts subjects. International students must maintain at least a 2.0 grade point average in all academic subjects.

Exceptions to these policies for students receiving supplemental financial assistance will be addressed by the Curtis Financial Assistance Committee. Students who wish to have any special circumstances reviewed must submit a written appeal to the Financial Assistance Committee.

Leave-of-absence policy. All leave-of-absence requests must be submitted in writing to The Curtis Institute of Music Registrar's Office for approval. A leave of absence cannot exceed 180 days within a twelve-month period and only one leave of absence will be granted during any twelve-month period. The Director of Student Financial Assistance will contact the Registrar's Office directly to insure that the release request was submitted and that the leave was properly authorized.

There will be no additional Curtis charges related to an approved leave of absence.

The Curtis Institute of Music will not release Title IV loan proceeds to a student who has been granted a leave of absence. Curtis will return loan funds disbursed during a leave of absence to the lender and will request that the lender withhold any remaining disbursements.

If a student does not return to Curtis at the expiration of an approved leave of absence, the student's withdrawal date is the date that the student began the leave of absence.

Withdrawal policy. If a student withdraws from The Curtis Institute of Music before the end of the school year, a determination will be made as to the percentage of the enrollment period that was completed before the official withdrawal date. The calculation for this determination is as follows:

Total number of calendar days completed ÷ Total number of calendar days in the enrollment period*

*For purposes of this calculation, "calendar days" refers to all days within the enrollment period (school year), excluding scheduled breaks of five or more consecutive days.

Return of Title IV funds. If a student receiving U.S. Government Title IV funds withdraws from The Curtis Institute of Music, the formula stated above in "Withdrawal Policy" will be used to determine how much, if any, of the Title IV funds must be returned to the appropriate aid program.

Using the above calculation, if a student has completed at least 60 percent of the enrollment period before withdrawal, then he or she is considered to have earned 100 percent of the U.S. Government Title IV funds for that enrollment period, no Title IV funds have been unearned, and no Title IV funds will need to be returned to those aid programs.

Using the above calculation, if a student has completed less than 60 percent of the enrollment period before withdrawal, then he or she is considered to have earned the percentage of Title IV funds for the period of time before withdrawal, and the remaining or unearned funds will be returned to the applicable aid programs.

A copy of the worksheet used to determine the amount of earned and unearned Title IV funds is available in the Office of Student Financial Assistance.

Return of Title IV funds distribution policy. Federal regulations stipulate that Title IV HEA funds declared unearned, according to the policies outlined above, are to be returned to aid programs in the following specific order:
1) Unsubsidized Federal Stafford Loan
2) Subsidized Federal Stafford Loan
3) Pell Grant
4) Other federal, state, private, or institutional student financial assistance
5) Refund to student

If a student withdraws and a refund is due to the student's lender, federal regulations require that those funds be returned by Curtis to the lender within thirty days of determining that the student withdrew. Written notice of the return of funds to the student's loan must be provided to the lender with documentation of that notice added to the student's file.

If the disbursed amount of Title IV HEA funds was less than the student earned, the student will be offered a post withdrawal disbursement. If a post withdrawal disbursement is accepted by the student, then the disbursement must be made within 120 days of the date that withdrawal was determined.

Verification policy. Students who are selected for FAFSA verification will be required to submit a completed verification worksheet with supporting documentation to the Office of Student Financial Assistance.

The following information is required to complete the verification process:
Household size (number of persons in the household)
Number enrolled in post secondary education
Adjusted Gross Income (AGI)
United States income tax paid for the base year
Certain untaxed income and benefits (Social Security benefits, child support, untaxed payments to IRA and/or Keogh plans, foreign income exclusion, earned income credit, interest on tax-free bonds, and other untaxed income)

The Director of Student Financial Assistance will insure that all supporting documentation is received to verify that the information contained in the worksheet is correct. The deadline for submitting the completed verification worksheet and all documentation is two weeks from the date it is requested by the Office of Student Financial Assistance. If corrections are warranted, they will be submitted directly to the federal processor on an Institutional Student Information Record (ISIR).

The Office of Student Financial Assistance is allowed to process a loan application and promissory note if the director believes that the information can be verified. However verification must be completed within forty-five days after loan funds have been received by Curtis or the funds must be returned to the lender.

When warranted the Office of Student Financial Assistance will make corrections and adjustments to the student's Pell grant and/or loan eligibility. Students will be notified in writing within two weeks if the verification process changes the amount of the Pell grant and/or loan. Documentation will also be placed in the student's financial aid file. The U.S. Department of Education will be notified in writing with appropriate documentation added to the student's financial aid file in the case of an over-award.

Each student will receive a copy of the verification policy at the time of the loan entrance interview.

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TRAVEL MONEY AND TICKETS
If your lessons take place outside of Philadelphia, Curtis will pay for your transportation. Tickets will be available twice a week at regular times that will be announced at the beginning of each semester. If you miss the announced times, you will have to purchase your own tickets and be reimbursed at the end of the term. Save your used ticket stubs: You must return them each week to get your new tickets. (You also must return the stubs to be reimbursed for any tickets you purchase on your own.) If you have any questions, please see the registrar.

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CHECK VALIDATING
To facilitate transactions with Curtis's bank, PNC Bank at 19th and Walnut Streets, you can have the business office endorse your out-of-town checks for up to $300 on any given day. A service charge of $25 will be assessed to any student whose check has been returned by our bank for insufficient funds, uncollected funds, and/or U.S./international fund exchange problems.

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