Financial AidProfessional's Choice Hair Design Academy is approved by the United States Department of Education to offer the following federal financial assistance programs whereby an eligible student is awarded an outright grant or loan for post-secondary education. To be eligible to receive financial aid, a student must be enrolled as a regular student on at least a half-time basis.
Professional's Choice Hair Design Academy offers the following sources of financial aid:
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Cosmetology Employment Disclosure
Instructor Employment Disclosure
Eligibility Requirements:
Determining Financial Aid
The basis of determining a student's financial need will be an analysis of the financial status of the student's and/or the parents' income. This analysis is accomplished by completing a Free Application for Federal Student Aid (FAFSA) distributed by the U.S. Department of Education.
These forms are available:
Financial need is based on:
Types of Student Aid
FEDERAL PELL GRANT
A Federal Pell Grant, unlike a loan, does not have to be repaid. Generally, Pell Grants are awarded only to undergraduate students who have not earned a bachelor's or professional degree. For many students, Pell Grants provide a foundation of financial aid to which other aid may be added.
FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT
A Federal Supplemental Educational Opportunity Grant is for undergraduates with exceptional financial need – that is, students with the lowest Expected Family Contributions (EFCs) - and gives priority to students who qualify for Federal Pell Grants. An FSEOG does not have to be repaid.
FEDERAL FAMILY EDUCATION LOAN PROGRAM
Stafford Loans are the Department of Education's major form of self-help aid for students. Under the FFEL program, the funds for your loan are lent to you from a private lender (a bank, credit union, or other lender that participates in the FFEL program).
Types of FFELP Stafford Loans available are:
Subsidized Stafford Loan - A subsidized loan is awarded on the basis of financial need. You will not be charged interest before you begin repayment or during authorized periods of deferment. The federal government "subsidizes" the interest during these periods.
Unsubsidized Stafford Loan - An unsubsidized loan is not awarded on the basis of need. You will be charged interest from the time the loan is disbursed until it is paid in full. If you allow the interest to accumulate, it will be capitalized – that is, the interest will be added to the principal amount of your loan and additional interest will be based upon the higher amount.
Students are encouraged to apply for one type or a combination of the types of financial aid available.
Financial Aid Links:
Dept. of Education federal financial aid information
The Smart Student Guide to Financial Aid - Scholarship search and financial aid information
The Illinois Student Assistance Commission (ISAC) - State grant, scholarship and FFELP website
School Codes - Look up Title IV school codes for FAFSA
SFA Ombudsman - Resolve loan disputes and problems
FAFSA (Federal Application for Student Aid) Online
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