Interestingly, almost all of the students at AADANY receive some sort of financial aid, and the total amount of assistance/loans provided totals more than $1,027,571 in a year. Notably, a total of 43% of the applicants to American Academy of Dramatic Arts-New York receive the Federal Grant every year. 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. Moreover, the average aid amount for Federal Grant awardees stands at $5,532, while the same comes to $3,976 for State Grant receivers and $6,690 for Institution Grant awardees. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,895. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. 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.