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Financial Aid Program

GENERAL FINANCING OPTIONS

We offer the following payment plans for our programs:

If you pay for your tuition in full upon enrollment you will receive a discount from the program cost, please check each program and see how much the discount is.

Down payment and pay the balance (Interest-Free) in equal payments over the number of months requires to complete the program.

Federal Student Aid is available (for those who qualify) for the following programs offered at our schools: Cosmetology, Barbering, Esthetics (Esthetician and Skin Care Specialist) & Massage For further detailed information about student direct loans and other financial aid links please go to https://studentloans.gov

When you are ready to apply you first must determine the amount and type of aid for which you are qualified. • You must first complete a FAFSA (Free Application for Federal Student Aid) at http://www.fafsa.ed.gov and acquire your personal PIN# for continued communication with the Department of Education. Please note that it is very important that you fully complete the FAFSA, have your PIN# and receive an Email confirmation otherwise your application may be deemed incomplete and delay your enrollment process.

After fully completing your FAFSA you will receive information via email from the Department of Education. It takes approximately 72 hours for your eligibility information to be sent to the school from the Department of Education. Please call the Financial Aid Office at 760-674-1624 X31 to discuss your options after the 72 hour waiting period to ensure that we have your information available.

A computer with internet access. If you don’t have a computer you may go to a local library or you may call the school Financial Aid Office and request a time when you may come in and use the school computer.

Our SCHOOL CODE is 039644

You need your Social Security Number and if you are a male over the age of 17 you need to have registered with the Selective Service System at www.sss.gov/

You need to have a copy of your (or your parent’s taxes if you are under the age of 24, are not married and have no dependants) for the year proceeding the award year for which you are applying> Example: July 1, 2010 to June 20 2011 is the 10/11 Award Year and you need 2009 taxes. For the 09/10 Award Year (July 1, 2009 to June 30, 2010) you would need 2008 tax returns and for the 11/12 Award Year (July 1, 2011 – June 30, 2012) you will need 2010 tax returns

Our school is authorized to enroll students who are eligible to receive military benefits. Please visit the Department of Veterans Affairs at http://www.vba.va.gov/VBA/ for information about your eligibility. Once your eligibility is established they you need to bring in the authorization document at the time of registration so the school can properly certify your enrollment to activate your benefit.

Our school is approved with the MyCAA Financial Assistance
https://aiportal.acc.af.mil/mycaa. Once an account is opened and a Career and Training Plan is completed an approved by MyCAA, the spouse will be eligible to receive McCAA Financial Assistance for classes starting within the next 90 days.

Federal Student Aid Programs
As EASY as A – B – C
APPLY for Financial Aid by completing a Free Application for Federal Student Aid (FAFSA) at http://www.fafsa.ed.gov. School Code: 039644 Or apply for Veteran’s Benefits (see below)

Be advised of your Awards & Eligibility, and review your rights and with our friendly and helpful Financial Aid Student Advisors who will ensure that you have all the information necessary to make the right decision for your education with our school. (also see “Important School Disclosures” section)

Choose the best course for you and BEGIN YOUR CAREER in this exciting industry!

The International School of Beauty is approved by the Department of Education and participates in the following Title IV Financial Aid programs:

Federal Pell Grant: The Federal Pell Grant Program provides financial assistance to students who do not hold a bachelors degree and demonstrate financial need based upon a precise formula set by the federal government. Grants do not have to be repaid.

Federal Direct Loan Program (FDLP):

  • Subsidized Federal Direct Loan. Subsidized Federal Direct Loans carry a fixed interest rate (visit http://www.studentaid.ed.gov for current rates and information or call our Financial Aid Office at 760-674-1624 EXT 31)
    This is a loan and must be repaid. If eligible, you may borrow once per academic year if all required paperwork is complete.Here’s a quick overview of Direct Subsidized Loans:

    • Direct Subsidized Loans are available to undergraduate students with financial need.
    • Your school determines the amount you can borrow, and the amount may not exceed your financial need.
    • The U.S. Department of Education pays the interest on a Direct Subsidized Loan
      • while you’re in school at least halftime,
      • for the first six months after you leave school (referred to as a grace period*), and
      • during a period of deferment (a postponement of loan payments).

    Note: If you received a Direct Subsidized Loan that was first disbursed between July 1, 2012, and July 1, 2014, you will be responsible for paying any interest that accrues during your grace period. If you choose not to pay the interest that accrues during your grace period, the interest will be added to your principal balance.

  • Unsubsidized Federal Direct Loan. Unsubsidized Federal Direct Loans carry a fixed interest rate (visit http://www.studentaid.ed.gov for current rates and information or call our Financial Aid Office at 760-674-1624 EXT 31) This .is a loan and must be repaid.Here’s a quick overview of Direct Unsubsidized Loans:
    • Direct Unsubsidized Loans are available to undergraduate and graduate students; there is no requirement to demonstrate financial need.
    • Your school determines the amount you can borrow based on your cost of attendance and other financial aid you receive.
    • You are responsible for paying the interest on a Direct Unsubsidized Loan during all periods.
    • If you choose not to pay the interest while you are in school and during grace periods and deferment or forbearance periods, your interest will accrue (accumulate) and be capitalized (that is, your interest will be added to the principal amount of your loan).
Loan Fees for Direct Subsidized Loans and Direct Unsubsidized Loans
First Disbursement Date Loan Fee
On or after Oct. 1, 2015 and before Oct. 1, 2016 1.068%
On or after Oct. 1, 2016 and before Oct. 1, 2017 1.069%

Current Interest Rates
The interest rates for Direct Subsidized Loans and Direct Unsubsidized Loans are shown in the chart below.

Loan Type Borrower type Loans first disbursed on or after 7/1/16 and before 7/1/17
Direct Subsidized Loans Undergraduate 3.76%
Direct Unsubsidized Loans Undergraduate 3.76%
Direct Unsubsidized Loans Graduate or professional 5.31%

The interest rates shown above are fixed rates for the life of the loan.

FOR MORE DETAILS REGARDING REPAYMENT PLANS VISIT:
http://www.studentaid.ed.gov
Federal Direct Plus Loan (Parent Loan): The Federal Parent PLUS Loan for Undergraduate Students enables parents and legal guardians with good credit history to pay the education expenses of each dependent child enrolled as an undergraduate at least half time in an approved educational institution. Plus loan has a fixed interest rate (visit http://www.studentaid.ed.gov for current rates and further information on the loan and repayment options, or call our Financial Aid Office at 760-674-1624 EXT 31) Parents begin repaying Plus Loans within 60 days, unless otherwise specified.

International School of Beauty is approved for Veterans’ benefits programs
The Military Spouse Career Advancement Account (MCAA)

(program provides financial assistance for military spouses who qualify)
Post 9/11 GI Bill
Montgomery GI Bill

For more information about these programs visit: http://www.vba.va.gov/VBA/

Tuition enrollment special’s are offered from time-to-time. Contact the Registrar’s Office for any current discounts 760-674-1624 X45.