Financial Aid and Federal Assistance Programs
The school is approved as an eligible institution by the U.S. Department of Education to participate in Title IV grant and loan programs. The packaging of financial assistance is determined according to guidelines set by the US Department of Education. Our Admissions Department and Third Party Provider, will help determine what financial aid services you are eligible for. Financial aid is available at the Esthetic Institute for programs that are 600 hours and over. We offer the following loan programs:
Federal Pell Grants: Intended to be the basis of the financial aid package and may be combined with other aid to meet the full cost of attendance. The Federal Pell Grant is a need based aid program in which an eligible recipient does not have to repay the funds received.
Federal Direct Loan Program: These are low interest loans for undergraduate and graduate students that are made available through the Federal Government. This program includes the Federal Direct Subsidized, Federal Direct Unsubsidized and Federal Direct Plus loans. There are grade level progressions and loan limits used for the administration of these loans. The following Direct Loans are made through the William D. Ford Federal Direct Loan (Direct Loan) Program, which is administered by the U.S. Department of Education:
Federal Direct Subsidized Loan: This is a need-based-loan for which the Federal government subsidizes the interest until repayment begins and during any period of deferment. This is a loan and recipients must begin making payments at the end of their six-month grace period.
Federal Direct Unsubsidized Loan: This is a non-need-based loan for which the Federal Government does not pay the interest subsidy. Interest accrues during all periods. The recipient hasthe option to pay the interest or to defer payment of the interest for the grace period. This is known as capitalization. This is a loan and recipients must begin making payments at the end of theirsix-month grace period.
Federal Direct Plus Loan: This loan is available to parents of dependent undergraduate students to help pay for the cost of the dependent’s education. Borrowers of PLUS Loans are required to undergo a credit check by the lending institution. The definition of a “parent for PLUS Loan eligibility is a student’s biological, adoptive or step-parent in the event that person’s income would have been taken into consideration when calculating the student’s expected family contribution (EFC). Interest is charged during all periods.
The Esthetic Institute does not offer any scholarships.
For your convenience and to help you determine the Cost of Attendance, please click on the Net Price Calculator button below:Net Price Calculator
Applying for Federal Student Aid 2017/2018Click Here to Download a PDF version
STEP 1: Determining your Dependency Status
The Federal government has established how your dependency status will be determined for Federal Student Aid purposes. If a student is considered to be a dependent, his or her parent’s income and asset information must be included on the FAFSA. This information will be used in addition to the student’s income and asset information to determine the EFC (expected family contribution).
The following questions will determine if you are an independent or dependent student.
- Were you born before January 1, 1993?
- As of today are you married (answer yes even if you are separated but not yet divorced)?
- At the beginning of the 2016/2017 school year will you be working on a master’s or doctorate program (such as an MA, MD, JD, PhD, or graduate certificate etc.)?
- Are you currently serving on active duty in the U.S. armed forces for purposes other than training?
- Are you a veteran of the U.S. armed forces?
- Do you have children who will receive more than half of their support from you between July 1, 2016 and June 30, 2017?
- Do you have dependents other than your children or spouse who live with you and receive more than half of their support from you, now and through June 30, 2017?
- At any time since you turned 13, were both your parents deceased, were you in foster care or were you a dependent or ward of the court?
- Are you, or were you an emancipated minor as determined by a court in your stat of legal residence?
- Are you or were you in legal guardianship as determined by a court in your state of legal residence?
- At any time on or after July1, 2015 did your high school or school district homeless liaison determine that you were an unaccompanied youth who was homeless?
- At any time on or after July 1, 2015, did the director of an emergency shelter or transitional housing program funded by the U.S. Department of Housing and Urban Development determine that you were an unaccompanied youth who was homeless?
- At any time on or after July 1, 2015 did the director of a runaway or homeless youth basic center or transitional living program determine that you were an unaccompanied youth who was homeless or were self-supporting and at the risk of being homeless?
If you answered YES to ANY of these questions, you are independent and do not need to include your parent’s financial information on the FAFSA.
If you answered NO to ALL of these questions, you are dependent and must include your parent’s information on the FAFSA.
Step 2: Obtaining a FSA ID
First thing you have to do is have an FSA id – you create that online https://fsaid.ed.gov/npas/index.htm – unless you already have one.If you do not have it, you have to create one and usually takes 1-3 days. Once you have you ID, Go to: Step 3 If you are a dependant student both you and one of your parent’s will need to create an FSA User ID.
Step 3: FAFSA
Collect your financial documents (taxes, w2s, other untaxed income forms etc.) and complete the FAFSA online at FAFSA.ED.GOV.
Fill out the FAFSA https://fafsa.ed.gov/ making sure to choose our school Esthetic Institute OPEID 04267700
It will give you a Confirmation Page at the end with estimates etc…
YOU MUST PRINT that page and bring a copy with you to the Appointment at school.
Please note: If you have already completed a 2017/2018 FAFSA at or for another school, using your FSA User ID and Password, please go to www.fafsa.gov and click on “Make Corrections to a Processed FAFSA”. Add the Federal school code for the Esthetic Institute OPEID 04267700. Make sure that you tell the Financial Aid Representative that you have completed the FAFSA elsewhere and that you have made the correction to add the new Federal school code.START FAFSA APPLICATION
Step 4: Schedule a Financial Aid Appointment
Take with you to your financial aid appointment one of the following items:
- The completed paper application.
- The SAR that you received in the mail from the U.S. Department of Education
- The confirmation page if you completed the FAFSA yourself online.
The Financial Aid Representative will then enter the FAFSA into FAA Access and print signature pages for you to sign and a confirmation page with your EFC on it and/or they will call the Financial Aid Servicing Center and put you on the phone with a Financial Aid Specialist who will complete the process and create an “Estimated Financial Plan” for you based on your EFC. This Estimated Financial Plan will then be reviewed with you.
When you come for your Financial Aid appointment please also make sure to bring the following items – ALL OF THESE ARE REQUIRED – we will not be able to finalize your enrollment without them:
- Valid State ID with Picture (DL or State ID, or Passport)
- Social Security Number
- $100.00 Non-refundable application fee
- HS diploma, GED, Proof of degree or credential conferred: Official final college or university transcript, stating academic credential has been awarded, Official college transcript with 60+ credits toward a bachelor degree. All Transcripts MUST be Official which means they are signed and stamped by an accredited school or college. If foreign national and diploma is from abroad, you must send your paperwork to an evaluator and receive an evaluation report (your diploma must be equivalent to at least US high school).
- Immigration Documents (if applicable)
Also if you have filed taxes for 2015, please request a transcript from the IRS now as it takes 7-14 business days to get them. And if this is needed for verification, not having it will delay your process. To request transcripts online, go to https://www.irs.gov/individuals/get-transcript . To order by phone, call 800-908-9946 and follow the prompts. While you are waiting to receive your transcript, we can accept a copy of your tax return and a form you will receive from IRS that shows that you requested your transcript.
STEP 5: Loan Entrance Counseling
When you are borrowing from the Federal Direct Loan Program, you are required to participate in loan counseling prior to receiving a Federal Direct Loan. This is to ensure that you understand your rights, your responsibilities and the obligation you are assuming when borrowing. Go to https://student loans.gov/ and complete the entrance counseling. Print a copy of your confirmation and have it with you for the school meeting.
STEP 6: Completing the EMPN
If you are a first time borrower of the Federal Direct Stafford Loan, you are required to complete a Master Promissory Note (MPN) before the loan funds can be disbursed. You can complete and sign your Federal Direct Stafford Loan MPN at https://student loans.gov using your PIN by selecting the Complete New MPN for Student Loan option.
STEP 7: Completing the PLUS EMPN (parent)
Parents of dependent students who are taking out a loan to pay for their child’s education should complete a new MPN for Parent PLUS Loans. You can complete and sign your Federal Direct PLUS Loan MPN at https://student loans.gov using your PIN by selecting the Complete New MPN for Parent PLUS Loan option.
Please note that if you have any problems with your FSA ID log in or registration or the FAFSA website we can not assist with those, and it would be best to contact those website support teams to expedite your resolution. We have the same access as you do.
To schedule an appointment for financial aid services,please contact us online or call our Admissions Department at (703) 288-4228, ext. 107 or email firstname.lastname@example.org