Financial Aid

A Federal Pell Grant, unlike a loan, does not have to be repaid. Federal Pell Grants are usually awarded only to undergraduate students who have not earned a bachelor's or a professional degree. (In some cases, however, a student enrolled in a post baccalaureate teacher certification program might receive a Federal Pell Grant.) You are not eligible to receive a Federal Pell Grant if you are incarcerated in a federal or state penal institution or are subject to an involuntary civil commitment upon completion of a period of incarceration for a forcible or non-forcible sexual offense.

For further information regarding Federal Pell Grants and how to apply for them, please go to: http://studentaid.ed.gov/types/grants-scholarships/pell

Subsidized and unsubsidized loans are federal student loans for eligible students to help cover the cost of higher education at a four-year college or university, community college, or trade, career, or technical school. The U.S. Department of Education offers eligible students at participating schools Direct Subsidized Loans and Direct Unsubsidized Loans.

For information regarding current interest rates, please click here.

Direct Subsidized Loans are available to undergraduate students with financial need. Your school determines the amount you can borrow, and the amount may not exceed your financial need. The U.S. Department of Education pays the interest on a Direct Subsidized Loan while you’re in school at least half-time, for the first six months after you leave school (referred to as a grace period*), and during a period of deferment (a postponement of loan payments).

*Note: If you receive a Direct Subsidized Loan first disbursed between July 1, 2012, and July 1, 2014, you will be responsible for paying any interest that accrues during your grace period. If you choose not to pay the interest that accrues during your grace period, the interest will be added to your principal balance.

Direct Unsubsidized Loans are available to undergraduate and graduate students; there is no requirement to demonstrate financial need. Your school determines the amount you can borrow based on your cost of attendance and other financial aid you receive. You are responsible for paying the interest on a Direct Unsubsidized Loan during all periods.

If you choose not to pay the interest while you are in school and during grace periods and deferment or forbearance periods, your interest will accrue (accumulate) and be capitalized (that is, your interest will be added to the principal amount of your loan).

Eligibility

To receive either type of loan, you must be enrolled at least half-time at a school that participates in the Direct Loan Program. Generally, you must also be enrolled in a program that leads to a degree or certificate awarded by the school. Direct Subsidized Loans are available only to undergraduate students who have financial need. Direct Unsubsidized Loans are available to both undergraduates and graduate or professional degree students. You are not required to show financial need to receive a Direct Unsubsidized Loan.

PLUS loans are federal loans that graduate or professional degree students and parents of dependent undergraduate students can use to help pay education expenses. The U.S. Department of Education makes Direct PLUS Loans to eligible borrowers through schools participating in the Direct Loan Program. The borrower must not have an adverse credit history. Loans have a fixed interest rate of 7.9%. The maximum loan amount is the student’s cost of attendance (determined by the school) minus any other financial aid received.

For current interest rates, click here .

Eligibility

To receive a Federal Direct PLUS Loan, you must be a graduate or professional degree student enrolled at least half-time at an eligible school in a program leading to a degree or certificate, or be the parent (biological, adoptive, or in some cases, stepparent) of a dependent undergraduate student enrolled at least half-time at a participating school; and meet the general eligibility requirements for federal student aid . If you are borrowing on behalf of your child, your child must also meet these requirements.

In order to receive a Direct PLUS loan, you (or your child, in the case of parent borrowers) must complete the Free Application for Federal Student Aid (FAFSA SM).

We are honored to help the courageous men and women who serve our country (and their families) follow their dreams in the cosmetology industry. Review all of the available VA education benefit programs, and apply for your benefits today!

The U.S. Department of Veterans Affairs offers several education and training benefits, including the Post-9/11 GI Bill®, Montgomery GI Bill®, Reserve Educational Assistance Program, and Survivors' and Dependents' Educational Assistance Program. If you are a veteran or family member of a veteran, you may qualify for one of these financial aid options.

GI Bill® is a registered trademark of the U.S. Department of Veterans Affairs. If you have any questions, contact our beauty school near you and speak with a Financial Aid Coordinator to get the answers you need!