Grants & Financial Aid for Beauty School & Cosmetology Students
As you can probably imagine, we host countless free consultations for future cosmetology students and whether you’re interested in a career as a cosmetologist, hair stylist, color specialist, barber, barber crossover, esthetician, nail technician or aspire to own a salon or work as a freelance makeup artist, one of the most often-asked questions during these first meetings is, “is financial assistance or financial aid available for cosmetology students and cosmetology school? At Colleen O’Hara’s Beauty Academy, the answer is a resounding yes! Financial Aid for beauty school students is available in the form of Federal Supplemental Educational Opportunity Grants (FSEOG), Federal Pell Grants, as well as Federal Student Loans. If you’re not familiar with these different forms of financial assistance, don’t worry – we’ve got you covered; read on to see if you qualify for financial aid for cosmetology school or simply to get a better understanding of what type of financial aid is available to those cosmetology students that qualify!
A lot of families and aspiring cosmetology students that come to Colleen O’hara’s Beauty Academy are concerned that they won’t be able to afford their education. We are firm believers that if you want something and are willing to work for it – there’s always a way. One way to help pay for your education is to apply for Federal Student Aid and that comes in a few different forms. If you qualify, you could have some or all of your tuition paid for, and depending on the type of funding you qualify for (based on your household income), you may or may not be responsible for paying it back. As a cosmetology student who wants to attend an accredited beauty school, it’s important to understand the fundamentals of each type of financial aid or financial assistance available to beauty academy students, just as if you were attending any other standard brick-and-mortar 4-year university.
Colleen O’Hara’s Beauty Academy is an accredited beauty and cosmetology school located in the heart of Orange County, California. We’re fortunate enough to qualify for several approvals, and we are authorized by the U.S. Department of Education for participation in the Federal Supplemental Educational Opportunity Grants, Federal Pell Grants, and Federal Student Loans. This is exciting news for those who want to attend a cosmetology school but think they may not be able to afford their education.
Now let’s dig into some of the basics for each type of financial aid available at our cosmetology school:
First up, is the Federal Supplemental Educational Opportunity Grants (or FSEOG) Program:
The FSEOG Program falls within approval for our cosmetology school financial aid and provides need-based grants to help low-income cosmetology students finance the costs of their postsecondary education. Beauty school students can receive these grants at any one of approximately 3,800 participating postsecondary institutions, Colleen O’Hara’s Beauty Academy being one of them! When making FSEOG awards, the institution must give priority to those students with “exceptional need” (those with the lowest Expected Family Contributions, or EFCs, at the institution) and those who are also Federal Pell Grant recipients.
As a participating institution, Colleen O’Hara’s Beauty Academy applies each year for an FSEOG allocation by submitting a Fiscal Operations Report and Application to Participate (FISAP) to the U.S. Department of Education. Using a statutory formula, the Department then allocates student-aid funds based on the institution’s previous funding level and the aggregate need of eligible students in attendance in the prior year. Institutions must contribute 25 percent of the award amounts, and we’re proud to do!
Cosmetology students who want to apply for financial aid must file a Free Application for Federal Student Aid (FAFSA) as part of the application process for an FSEOG. The FAFSA can be completed on the web at http://www.fafsa.ed.gov.
The second type of funding and financial aid for our beauty academy is The Federal Pell Grant Program, and it’s a favorite among many beauty school students because unlike a loan, the Federal Pell Grant does not need to be repaid! Colleen O’Hara’s Beauty Academy is one of the few beauty schools in the nation that qualifies for Federal Pell Grants for cosmetology students; here are the basics:
The Federal Pell Grant Program provides need-based grants to low-income undergraduate cosmetology students to promote access to postsecondary education. Students may use their grants at any one of approximately 5,400 participating postsecondary institutions. Grant amounts are dependent on: the student’s expected family contribution (EFC); the cost of attendance (as determined by the institution); the student’s enrollment status (full-time or part-time); and whether the student attends for a full academic year or less.
- A Federal Pell Grant, unlike a loan, does not have to be repaid.
- The maximum Pell grant for the 2015–16 award year (July 1, 2015, to June 30, 2016) is $5,775.
- The amount depends on your financial need, costs to attend school, status as a full-time or part-time student, and plans to attend school for a full academic year or less.
- Learn more about Pell grants by visiting https://studentaid.ed.gov/sa/types/grants-scholarships/pell
- To apply, complete the FAFSA here: https://fafsa.ed.gov/
*Please keep in mind that cosmetology students may not receive Federal Pell Grant funds or financial aid from more than one school at a time.
The final approvals for financial aid our cosmetology school and beauty academy students qualify for from the US Department of Education are Federal Student Loans.
The William D. Ford Federal Direct Loan (Direct Loan) Program is the largest federal student loan program and one of the most desirable not just by cosmetology students and those attending beauty school, but by all students in 4-year universities alike. Under this program, the U.S. Department of Education is your lender, and there are four types of Direct Loans available:
To find out more about our approvals for Federal Financial Aid for cosmetology school students, simply give us a call, toll free at 888-463-7869 and speak with one of our knowledgeable staff members. We’d love to set up a quick, no-hassles consultation and give you a brief tour of our Orange County, California cosmetology school campus so you can see first-hand why Colleen O’Hara’s Beauty Academy is one of the best cosmetology schools in California. We’ll take the time to make sure you understand the application process and help you understand the basics for financial aid for cosmetology school, helping pave the way for your new career in makeup, hair, beauty, cosmetology, esthetics, nail and manicure, barber and barber crossover as well as spa and salon management. Call us today!