Financial Aid

SCHOOL CODE: 041515-00

NEED HELP FUNDING YOUR EDUCATION?

There are many options available and our financial aid reps will help you find the resources that work for you.
American Academy of Cosmetology is fully accredited through NACCAS. Financial aid is available to those who qualify. VA benefits are accepted.

The Financial Aid Office at American Academy of Cosmetology is dedicated to helping students find ways to finance their education. This office is staffed by the Director of Financial Aid and Financial Aid Advisors. The financial aid staff is available to all enrolled students. They may be reached by calling the campus to schedule an appointment or they are available to enrolled students on a walk-in basis.

APPLYING FOR FINANCIAL AID

The Financial Aid Office will notify the student if further documentation is needed. To receive a financial aid award, the student must be admitted and enrolled in American Academy of Cosmetology. The financial Aid Office will not award financial aid to any student who has not formally enrolled in the School.
Financial aid is available for those who qualify. Students wishing to apply for financial aid must submit the following forms:

• Free Application for Federal Student Aid (FAFSA)
• A list of schools (beyond high school) previously attended
• Completed loan applications or bring their Federal PIN number (if the student is applying for any of the federal loan programs available at American Academy of Cosmetology)
• Personal references with a valid address and phone number if applying for a loan

GENERAL ELIGIBILITY REQUIREMENTS

Students wishing to receive Federal Student Aid must meet the following requirements:

Financial aid is available for those who qualify. Students wishing to apply for financial aid must submit the following forms:

• Free Application for Federal Student Aid (FAFSA)
• A list of schools (beyond high school) previously attended
• Completed loan applications or bring their Federal PIN number (if the student is applying for any of the federal loan programs available at American Academy of Cosmetology)
• Personal references with a valid address and phone number if applying for a loan

FINANCIAL AID PROGRAMS

FEDERAL PELL GRANT

The Federal Pell Grant Program is intended to give eligible students financial access to the college of their choice. Federal Pell Grants do not have to be repaid and the Pell Grant eligibility determination is the foundation upon which all other federal student financial aid is built. Federal Pell Grants are awarded only to undergraduate students who have not earned a bachelor’s or professional degree (a professional degree would include a degree in a field such as pharmacy or dentistry). Students are notified of their Federal Pell Grant eligibility through an Institutional Student Information Record (ISIR). This report is electronically transmitted directly to the School and student by the federal processor. The U.S. Department of Education employs a uniform formula to evaluate the information contained on the student aid application and to determine the index of need based on Expected Family Contributions (EFC). In order to receive an award, the ISIR must be reviewed and eligibility confirmed by the Financial Aid Office.

FEDERAL SUBSIDIZED and UNSUBSIDIZED STUDENT LOANS

Direct (Federal Family Education Loan) Subsidized and Unsubsidized Stafford Loans are awarded on the basis of financial need and requires attendance of at least half-time each quarter to be eligible for the loan. Students must begin repaying these loans six months after they graduate, withdraw from school, or drop below half-time enrollment. An entrance and exit interview is required by all Federal Direct Stafford Loan borrowers.

FEDERAL STUDENT PLUS LOANS

Direct PLUS Loans enable parents with good credit history to borrow funds to pay for educational expenses of each child that is determined to be a dependent undergraduate student enrolled at least halftime. The loan will go in to repayment 60 days after the final loan disbursement for the academic year. There is no grace period for these loans but parents can contact their lender to request the payments to be deferred while the student is in school.

VETERANS ADMINISTRATION BENEFITS

American Academy of Cosmetology is a Veteran Training approved school. Most programs offered by the School are approved for one or more of the Veterans Administration (VA) educational assistance benefits programs. Veterans, dependents of veterans and war orphans may be eligible for VA benefits. For further information and assistance in establishing eligibility for these educational benefits please contact your local VA office or the Financial Aid Department on campus.

Veterans receiving VA benefits will be monitored under the same Satisfactory Progress Standards requirements as students who receive other financial aid.

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FLORIDA PREPAID PROGRAM

Call for details at 904-213-1444