Scholarships are available to Conservatory students and are awarded on the basis of ability (demonstrated at the audition) and academic standing. Scholarships are awarded for one year but can be renewed annually, provided students maintain the appropriate grade level, continue satisfactory performance in the major performance area, and participate in major ensembles as prescribed.

Applicants for Conservatory scholarships must complete all regular admissions procedures in order to be considered.

In accordance with the code of ethics of the National Association of Schools of Music, the acceptance of financial aid by a candidate is considered a declaration of intent to attend the institution, and each candidate will be so informed. The code further declares that such a student may not consider any other offer from an institutional member of the NASM except with the written consent of the music executive of the first institution. Similarly, a transfer applicant cannot be considered for financial aid without the written recommendation of the head of the music department from which the transfer is being made.