Financial Aid Options For Our Cosmetology Program
Have you always wanted to apply for beauty school but you never felt like it was realistic for you? Was money one of your biggest concerns? At Crave Beauty Academy, we believe that anyone with a passion for beauty should have the opportunity to pursue a future in cosmetology. That’s why we offer financial aid to those who qualify. If money is the only thing holding you back from applying, then read our blog on financial aid. We’ll talk about all the different options that are available at both our Kansas and Missouri location.
FAFSA
Before applying for our financial aid options, you first have to complete the Free Application for Federal Student Aid (FAFSA). As a student in the state of Kansas, you have the opportunity to receive federal aid from the government. Your FAFSA application combined with your tax return information will determine whether or not you’re eligible for Federal Grant money, Parent PLUS Loans, and more. This is an important step in the financial aid process and one you should do early on in your process of applying to beauty school. After completing this, there are a few federal aid options available for you to look into.
Direct Subsidized and Unsubsidized Loans
A student loan is money for your education that you pay back once you’ve graduated. You financial need determines whether subsidized or unsubsidized loans are best for you.
A subsidized loan is based on your financial need. The government pays interest for these types of loans while you’re in school. Your financial need will be determined by the information in your FAFSA application.
An unsubsidized loan is available for anyone to qualify. There is no requirement to demonstrate financial need. Since this loan can be used by anyone and is not determined by your financial need, the government won’t pay the interest during your education.
The amount of money you can borrow is determined by a variety of qualifications for both subsidized and unsubsidized loans. You’ll be expected to begin your repayment six months after graduation.
Parent PLUS Loan
Parent PLUS loans allow parents with qualifying credit to borrow from the government to help pay for their dependent child’s education expenses. Unlike subsidized and unsubsidized loans, this type is not in the student’s name only. A variety of factors decide how much money you’re allowed to borrow. Repayment for this loan starts 30-60 days after the loan is fully disbursed. If the PLUS loan is not available for your parents, then an increase in the unsubsidized loan may become available to you as a student. To find out which loan you qualify for, contact us for more information.
Federal Pell Grant
Federal Pell Grants are awarded to students based on their financial need. The FAFSA application that you completed combined with your tax return determines if you qualify for a grant. Unlike loans, the money students receive from Federal Pell Grants usually doesn’t have to be repaid. After filling out your FAFSA application, a variety of factors will determine if you qualify for a federal pell grant. If you have any questions about federal pell grants, then contact us. We’d love to help you find out if you qualify!
Other Financial Aid Options Available
Besides loans and grants, students at our Wichita, Kansas campus have more financial aid options available to them. Payment plans and private loans are just some options that could help you finance your passion for beauty school. We also offer Veterans Affairs (VA) benefits for those who qualify. For a detailed list of what we offer, check out our financial aid page on our website.
Ask Us Your Questions
Our team in Wichita, Kansas is ready to help get started on your beauty journey. Contact us and we’ll help you find out which financial aid options are available to you. We can’t wait to help you start the application process in the beauty program of your choice.
