$4,628

Avg. Federal Grant

$5,500

Avg. Federal Loan

$1,062,909

Total Aid Awarded

American Academy of Dramatic Arts Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

40%

Total Aid Amount Average Total Aid Awarded per year.

$1.063M

Financial Aid Official Website

www.aada.edu/admissions/financial_aid.html

Such schemes include Aid to Native Americans, Albert E. Wischmeyer Memorial Scholarship, Military Service Recognition Scholarships, and New York State Scholarship for Academic Excellence. Notably, almost all of the academy students get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $1,027,571. One can visit AADANY's financial aid page at https://www.aada.edu/admissions/financial-aid/ for more information. The total percentage of candidates applying to American Academy of Dramatic Arts-New York who receive the Federal Grant is 43%. In comparison, 100% of the students are awarded the Student Grant, 100% get the Institution Grant, and 43% of the applicants receive the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,532, and the same stands at $3,976 for State Grant awardees and $6,690 for Institution Grant recipients. On the other hand, the average aid received by the Pell Grant awardees is $4,895. Among other things, the annual family income of the applicant plays a major role in determining the total financial aid they are actually eligible to receive. Students whose family income per annum is less than $30,000 will receive a federal aid of $12,509 on average in a year. The average aid amount stands at $12,031 for an annual family income between $30,001 and $48,000. This amount comes to $10,606 for those who fall under the $48,001-$75,000 family income bracket. Meanwhile, the average federal aid for students in the $75,001-$110,000 income bracket is $7,682. And, for those with a family income of more than $110,000, the amount stands at $3,500. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. In contrast to grants and scholarships, student loans are taken by the candidates at a certain rate of interest. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At AADANY, an estimated number of 64% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

37%

State Grant Aid

5%

Institution Grant Aid

80%

Pell Grant

36%

Average Aid Awarded

Federal Grant Aid

$4,628

State Grant Aid

$4,017

Institution Grant Aid

$6,690

Pell Grant

$4,271

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$9,938

$30,001 - $48,000

$9,424

$48,001 - $75,000

$8,500

$75,001 - $110,000

$8,350

Over $110,000

$5,500

Student Loans for American Academy of Dramatic Arts

Average Loan Amount Average Loan Amount received per year.

$20,522/Year

Students Taking Out Loans

80%

Loan Default Rate

N/A

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