Financial Aid

FINANCIAL AID AVAILABLE TO THOSE WHO QUALIFY

Florida Academy of Health & Beauty Federal School Code: 038233

Florida Academy of Health & Beauty would like to encourage all students to apply for financial Aid. If you have not done so, go online now to complete your FAFSA Application. New applicants should do an initial Free Application for Federal Student Aid (FAFSA), while returning students (who did a FAFSA in 2015-2016) can submit a renewal FAFSA. Once your FAFSA is processed by the Central Processing System, you will have access to a Student Aid Report (SAR), either through an online summary of the online application process, or through a printed document mailed to you. It’s important that you check your SAR for accuracy and respond to any comment or notices posted by the federal processor on the SAR.

Once FAHB has your valid FAFSA data and you have been officially admitted to the school, we will notify you of your eligibility for aid.

FINANCING :
FEDERAL LOAN: $5,500.00

Cosmetology Diploma Program Information:

Median Federal Loan Debt: $5,500.00
On-Time Completion Rate: 71%
Job Placement Rate: 79%
Click here to view our current Course Catalog.

TYPES OF AID

Grants
Grants are “free money” that is not paid back and are awarded based on need. The Federal Pell Grant is a federally awarded grant based on financial need. The amount of this grant ranged from $400 to $5775 for 2014-2015 academic year. Students who attend part time, this award will be adjusted based upon enrolled hours.

Federal Supplemental Education Opportunity Grants (FSEOG)

The FSEOG program is the second-largest educational grant program, after Pell Grants.  Participating schools receive a predetermined amount of FSEOG grant funds for the award year. Once those funds are used up, no additional awards can be awarded and distributed. The maximum FSEOG Federal Supplemental Educational Opportunity Grant award is $4,000 per year. The minimum award for those who qualify is usually no less than $100.

Florida Bright Futures Scholarship Program

Florida Academy of Health & Beauty now offers the Florida Bright Futures Gold Seal Vocational Scholars Scholarship for all applicable students who meet specific requirements. For more information please visit the Florida Bright Futures Scholarship Program website.

Scholarships from Children/Spouses of Deceased or Disabled Veterans

The Scholarships for Children and Spouses of Deceased or Disabled Veterans (CSDDV) provides an award to dependent children or unremarried spouses of qualified Florida veterans.  A students must meet specific requirements in order to be eligible for these scholarships.  For specific requirements and additional information please Click Here .

Direct Subsidized Loans
Students who qualify for a subsidized Direct Loan are not charged interest while enrolled in college, during the six month grace period, and during deferments. Students must demonstrate need for this loan by completing the Free Application for Federal Student Aid (FAFSA) and providing the financial aid office signed copies of their parents’ and their own federal tax returns and W2 forms.

Direct Unsubsidized Loans
Interest is charged on an unsubsidized Direct Loan from the time Florida Academy receives the funds.Only payments on the principal are deferred until six months after the student ceases to be enrolled at least half-time. Students receive an interest-only bill every three months; students may pay the interest or let the interest accumulate and have it added to the amount borrowed (interest capitalization). This loan is available to all students regardless of need. Annual loan limits are the same, less any subsidized Direct loans received. This loan is available to all students regardless of need. Annual loan limits are the same, less any subsidized Direct loans received.

Vocational Rehabilitation

Florida Academy of Health & Beauty is now a Vender for Vocational Rehabilitation. If you are a client of Vocational Rehabilitation, ask your representative  about the financial opportunities that are available to you.

GAINFUL EMPLOYMENT INFORMATION

Final regulations published in the Federal Register on October 29, 2010, require institutions to report certain information about students who enrolled in Title IV eligible educational programs that lead to gainful employment in a recognized occupation (GE programs).
Median Loan Debt for the 2014-2015 award year: $5,500.00. Median loan debt is based on the number of students who completed in the specific financial aid award year, and has been calculated by comparing the total amounts that students borrowed for each loan type, starting with $0 up to the maximum amount borrowed.

Click here to view the Gainful Employment Disclosure Template

 

CALCULATE YOUR EDUCATION COSTS

Click here to estimate your education costs.

 

VERIFICATION AND PROCEDURES

Verification Policy and Procedures
Any student may be selected for verification by the federal government or the Financial Aid Office. The verification process allows financial aid counselors to review the information reported on the FAFSA, checking for accuracy against documents provided by you. If you are chosen for verification, and you, or your parent (dependent student),  did not use the IRS Data Retrieval on you FAFSA application, you must provided an official IRS transcript of your original tax return, as well as a completed Verification Worksheet (provided by the Financial Aid Office).  If you are married, your spouse’s official IRS transcript must be submitted and your spouse must also complete the Verification Worksheet. All documents must be submitted to the Financial Aid Office. If you are selected for verification, the documents required must be received before an actual financial aid award can be issued. Verification should be complete within 10 business days after notification. In case of aid recalculations, the student will be notified in writing.

Return of Title IV Funds
The Return of Title IV funds applies only to federal financial aid funds received.
The U.S. Department of Education requires institutions and students to repay or refund unearned student aid funds. Student aid may be considered unearned if a student withdraws completely during a payment period in which federal Title IV money was received. Refund and repayment regulations specify, in complex formula, exactly how much is due back to the federal programs from the institution and/or the student. This policy is administered per The Higher Education Amendments of 1998 and the according guidelines.
If you owe an overpayment, you have 45 days to repay the college in full or it will be reported to the Department of Education. You will not be able to receive further financial aid from any college until the overpayment has been paid.

Payment Plans
The school offers weekly, bi-weekly or monthly installment payment plans depending on the individual situation.