Determining Financial Need

Net Price Calculator

The Net Price Calculator was developed by the Department of Education to help first-time undergraduate students determine the amount they will have to pay for college, or the "net price" of the college. Students' income and household information is used to calculate estimated federal and institutional scholarship and grant aid, which is then used to determine the "net price." PLEASE NOTE, however, that while Boston Conservatory at Berklee will take your income into consideration if you have filled out the FAFSA, it does not award its students based on income, but rather awards scholarships based on the merit of the audition.

Launch the Net Price Calculator

Financial Aid Determination

General Financial Need Equation:

Cost of Attendance - Expected Family Contribution = Financial Need

  • Financial need is defined as the difference between your cost of attendance, as determined by the Conservatory, and your expected family contribution (EFC), as determined by the FAFSA. The amount of financial need you have determines what kind of financial aid you may receive. Please note that the Conservatory does not award up to a student's complete need.
  • The cost of attendance includes direct costs such as tuition and fees, room and board (if on campus), and estimated costs such as books, supplies, room and board (if not on campus), transportation, and miscellaneous expenses.
  • You may not receive financial aid (including loans) in excess of your cost of attendance. Please note that the gym fee is not considered an educational cost and is not included in the cost of attendance. The estimated costs are based on averages taken from student surveys conducted every two years.
  • The U.S. Department of Education calculates your expected family contribution (EFC) based on the financial information from your FAFSA. The department compares your income and assets against standard cost-of-living allowances for the number of people in your household.
  • Less-than-full-time students would have their cost-of-attendance elements prorated.

Students may take out additional funds to cover their complete cost of attendance. To determine how much you can borrow, subtract the financial aid on your award letter from your total cost of attendance. Please note that if there are federal loans on your award letter, it is the gross amount. Fees may be taken out of them. Please note that you need not borrow up to your entire cost of attendance. You should only borrow what you will need. Please see your Conservatory bill for more information on loan funds.

Tuition and Fees