Financial Aid

Financial Aid

Financial assistance

SAE Institute of Technology, Nashville, offers financial assistance to our students via Federal Student Aid, the Montgomery GI Bill (for select programs), Vocational Rehabilitation Programs, as well as credit-based student loans from third party companies to qualifying students.

The Audio Technology Program and the Music Business Program accept GI Bill Veteran Funding, for Veterans who qualify. 

Credit-Based Student Loans

These loans are available to students with good credit and may require a co-signer. They may be used to fully or partially fund educational costs. For more information about these loans and the process to obtain them, please contact the school and speak to a Financial Aid Administrator.

Montgomery GI Bill

SAE Institute of Technology is approved for all chapters of the Montgomery GI Bill as well as the VRAP program.  You will need to contact VA to obtain your Certificate of Eligibility and present it, along with your DD-214 to the Financial Aid Administrator.

Vocational Rehabilitation Training

Students that are residents of Tennessee may be eligible for vocational rehabilitation training from the state.  This program is designed to assist individuals of work age with physical and/or mental disabilities compete successfully with others in earning a livelihood. You will need to contact the Department of Human Services to see if you qualify.

Federal Student Aid

The First Step:

After you have completed your application for admission to SAE, you will need to complete a Free Application for Federal Student Aid (FAFSA). This application will determine your eligibility for Federal Student Aid.  Go here to complete your FAFSA online:

SAE Nashville participates in the following Federal Aid programs: Pell Grants, Subsidized and Unsubsidized Direct Stafford Loans and Direct Parent PLUS loans.

You must include SAE Nashville’s Federal school code on your FAFSA.

Our school code is: 038303

You will need a PIN to sign your application electronically. If you are required to include your parents' information on your FAFSA, one parent must obtain a PIN to sign your application electronically.

Go here to request a new or duplicate PIN:

Once you have your PIN you may complete your application online.

The Second Step:

After you have submitted your FAFSA, a Student Aid Report (SAR) will be generated by the government and emailed to you. When you have received your SAR, please contact the school to make an appointment with a Financial Aid Administrator who will then work with you on your individual federal student aid package.

You may apply for your Stafford Loans online. Applicants will need to complete an Electronic Master Promissory Note. You will use your PIN to sign your application electronically.

PLUS Loan applicants may also apply online and will need to complete the PLUS Pre-Approval.

The maximum amounts you may borrow for Parent Plus loans are as follows:

Audio Technology Program Diploma $40,350
Audio Technology Program Associates $59,720
Music Business Program Diploma $40,482
Music Business Program Associates $59,780

 There is a 4% origination fee on the loan, so the amount of your loan received by the school will be slightly less than the amount you borrow. Please make sure to borrow extra if you will only be borrowing to cover the cost of tuition.

The Third Step:

Pell Grants and Stafford Loans will not cover the total cost of the Audio Technology Program. The last step you will need to take is to make arrangements for payment of the amount not covered by your Federal Aid. The remaining balance not covered by your Federal Aid may be paid in monthly installments, a lump sum payment or through private student loans.

For more information on options for funding the gap left by Federal Aid, please contact the Financial Aid Office at 615.244.5848

FAFSA: FAFSA is an acronym for Free Application for Federal Student Aid. Any student wishing to apply for Federal loans must complete a FAFSA.  You should never pay to have your FAFSA processed. If you wish to complete your FAFSA online go to: If you require assistance with completing the FAFSA, please feel free to contact the Financial Aid Office. The FAFSA is the basis for determining the types and amount of Federal Aid a student is eligible for.

SAR: The SAR, or Student Aid Report, is the document a student will receive from the Department of Education once their FAFSA has been processed.

EFC: The EFC stands for “Expected Family Contribution”. This number will appear on the upper right hand corner of the SAR. This number is used by the Financial Aid Office to determine students eligibility for Federal Aid programs.

Pell Grant: Pell Grant eligibility is determined by the FAFSA. The Pell Grant is a Federal grant.

Subsidized Stafford loan: This is a Federal Student loan. First year students are limited to a maximum of $3,500 per year. Repayment of the loan will begin six months after graduation or withdrawal from school. The interest on this loan is paid for the student on this loan while the student is in school and during the six-month grace period before repayment begins.

Unsubsidized Stafford loan: The interest on this loan is not paid for the student. The student is responsible for payment of all interest in addition to the principle balance. The unsubsidized Stafford loan has the same grace period as the subsidized Stafford loan. The student may choose to make interest only payments while in school or allow the interest to be capitalized, which will result in a larger principle balance.

Direct PLUS loan/ Parent PLUS: The PLUS loan is a Federal loan program designed to assist dependent students with the costs of attending school. The parent may borrow up to the cost of attendance. Repayment on a PLUS loan begins within 60 days after the final disbursement of the loan. You may postpone repayment while the beneficiary student remains enrolled at least part-time and for an additional 6 months afterward.

Cost of Attendance:

The cost of attendance is the maximum amount a student may receive in any combination of student loans and financial aid. The cost of attendance includes the cost of the program tuition and a modest amount for living expenses. The cost of attendance for our programs is as follows:

Audio Technology Diploma: Tuition $18,482
Books and Expenses $2,650
Living Expenses $19,200
Cost of Attendance $40,350
Audio Technology Associates: Tuition $30,770
Books and Expenses $3,350
Living Expenses $25,600
Cost of Attendance $59,720

Music Business Diploma: Tuition $18,482
Books and Expenses $2,800
Living Expenses $19,00
Cost of Attendance $40,482
Music Business Associates: Tuition $30,770
Books and Expenses $3,500
Living Expenses $25,600
Cost of Attendance $59,870

A student may not exceed this maximum amount with any combination of the following: Federal Financial Aid, Alternative Student loans and other aid.

Maximum Amounts of Federal Financial Aid

The following are the maximum amounts of Federal Financial Aid available to our students. All students at SAE Nashville are considered first year students. Not everyone will qualify for the maximum amounts.

Dependent Students, Maximum Federal Aid Amounts:

A Dependent Student is classified as anyone under age 24 who is unmarried (single) or without dependents

Pell Grant (based on Financial Need as determined by your FAFSA): $5,550 (this is expected to increase to $5,635 for the 2013-2014 award year)

Subsidized / Unsubsidized Stafford Loan: $5,500 (no more than $3,500 of this amount may be in Subsidized loans)

Total: $11,050 ($11,135 for 2013-2014 award year if Pell Grant maximum award is increased)

Direct Parent PLUS Loans- Dependent Students Only:

Parent PLUS loans are amounts that are available to the parents of dependent students to help bridge the gap of what is not covered by the Federal Aid package offered to the student. The amount of the Parent PLUS loan may not exceed the Cost of Attendance less any financial aid received. If a parent applies for a PLUS loan and is denied, the student will be eligible for an additional $4,000 in Unsubsidized Stafford loans.

Independent Students and Dependent Students whose parents have been denied a PLUS

loan, Maximum Federal Aid Amounts:

An independent student is at least 24 years old, married, a graduate or professional student, a Veteran, a member of the armed forces, an orphan, a ward of the court, or someone with legal dependents other than a spouse.

 Pell Grant (based on Financial Need as determined by your FAFSA): $5,550 (this is expected to increase to $5,635 for the 2013-2014 award year)

Subsidized / Unsubsidized Stafford Loan: $9,500 (no more than $3,500 of this amount may be in Subsidized loans)

Total: $15,050 ($15,135 for 2013-2014 award year if Pell Grant maximum award is increased)

Verification- What It Means And Why You Have To Do It

After your FAFSA has been processed, you may be selected for a review process called verification. If your application has been selected for verification, you will be notified by our Financial Aid Office. You will receive a worksheet that you must complete and return with a copy of you tax transcript. If you are a dependent student, you will need to include your parents’ tax transcript as well. You can avoid having to provide tax transcripts if you use the IRS Data Retrieval Tool to upload your tax information when you are completing the income portion of your FAFSA.  Please be advised that other documentation may be requested during the verification of your FAFSA.

All incoming students who are selected for verification must submit a completed verification worksheet and supporting documentation to the Financial Aid Office before the first day of their scheduled class.  Failure to submit verification documents before the first day of your scheduled class will result in the cancellation of all federal financial aid except for the unsubsidized Stafford Loan portion.

Students who are selected for verification after beginning classes must submit their verification documents no later than 30 days after receiving notice of their selection. If a student will be graduating before the end of the 30 days, they must submit complete documentation before final exams. Failure to submit verification documents within the given timeline will result in withdrawal of any offer of federal financial aid. After the Financial Aid Office has received your verification documents and your FAFSA has been reviewed, you will be notified by mail of any changes to your Financial Aid award as a result of corrections made during verification.

Verification FAQ

Why was my application selected?

Most applications are randomly selected, however, you will be selected if you report an unusually low income or provide suspicious information.

How can I get a copy of my tax transcript?

You can request a copy from the IRS at this website:   

You also have the option of stopping by your local IRS office and retrieving a copy.

My parents are divorced; do you need both of their tax transcripts?

No, you are only required to provide the transcript for the parent that completed and signed your FAFSA.

Can someone help me fill out my FAFSA?

If you need help filling out your FAFSA please contact the Financial Aid office at 615-244-5848. You may schedule an appointment to meet with a Financial Aid Administrator or we may be able to help you over the phone. We will be glad to assist you.

Do my parents need to put their information on my FAFSA?

Yes, if you are under the age of 24 with the following exceptions:

• You are a veteran of the U.S. Armed Forces

• You are married

• Have children that receive more than half of their support from you

• You have dependents (other than your children or spouse) who receive at least half of their support from you

• Both of your parents are deceased or you were a ward/dependent of the court.

How will I know what I am getting?

We will notify you of your eligibility for financial aid after you have received your SAR and make your appointment with a Financial Aid Administrator.

What is a Pell Grant?

Pell Grants are based on financial need and are awarded to undergraduate students. These grants do not have to be paid back. Beginning on July 1, 2012 the maximum amount of the Pell Grant is $5,550.  It is possible that beginning July 1, 2013 the maximum amount of the Pell Grant will be increased to $5,635.

How much can I get in loans?

The maximum amount of Subsidized/Unsubsidized loans for a dependent student is $5,500. Parents of dependent students may apply for Parent Plus loans, which are low interest Federal loans, and will cover the full cost of tuition plus living expenses. The maximum loan amount for independent students is $9,500 with no more than $3,500 in Subsidized loans.

What can I do if Federal Aid is not going to cover all of my tuition?

You can apply for alternative loans, such as the Sallie Mae Smart Option Loan to cover the remaining amount of your tuition not covered by grants or federal loans. You may also pay the remainder not covered by federal aid in monthly installments.

Do I have to pay anything up front?

Yes, all students who will be making monthly payments in addition to your Federal Aid are required to make a deposit as follows:

            Audio Technology Diploma                       $2,650

            Audio Technology Associates                   $3,350

            Music Business Diploma                         $2,800

            Music Business Associates                     $3,500

Students who will be using loans (Parent Plus and Sallie Mae) to cover their tuition are exempt from these down payments.

What is the difference between Subsidized and Unsubsidized loans?

Subsidized loans are based on financial need. While you are in school and during the six- month post graduation grace period, the federal government will pay the interest on the loan. Unsubsidized loans are not based on financial need. You are responsible for paying all the interest on these loans. You can make interest only payments while you are in school, or allow the interest to be added to the loan principle. Both of these loans have a six-month grace period after your graduation date or if you leave school.

When will my money come in?

All loans and grants will come be received semester. We typically receive the first disbursement 30 days after the first day of your class. We receive subsequent disbursements at the beginning of each semester. You must maintain satisfactory academic progress to receive your subsequent disbursements of Federal Aid.

I borrowed extra money for living expenses, when will I get a check?

If a credit balance occurs when a disbursement is posted to your account, a check will be written to you for the excess amount. Checks will be available 14 days after disbursements have been posted to your account.

Here is an example of how living expense amounts are calculated based on the Audio Technology Diploma Program:

Federal Aid Disbursement

  • 1st disbursement of Parent Plus loan: $12,000.00
  • 1st disbursement of Stafford loan: $1,313.00
  • Total Federal Aid Disbursement: $13,313.00

Institutional (School) Charges

  • Registration Fee: $50.00
  • Books and Laptop Package: $2,650.00
  • Tuition (first semester): $6,144.00
  • Total Institutional Charges: $8,844.00

Amounts Paid

  • Registration fee $50.00 (Due upon enrollment)
  • Books and Laptop Package +$2,450.00
  • Federal Aid Disbursement: + $13,313.00
  • Minus Total Institutional Charges for the 1st semester of the Program: - $8,844.00
  • Amount owed to student for living expenses: $4,469.00