Have you always wanted to pursue an education in the beauty industry? Starting on a career path you feel passionate about is an exciting step, but we know that learning so much new information can also feel overwhelming. There’s a lot of important information to understand as you start your beauty career, which is why we want to help by explaining the financial aid process at TONI&GUY Hairdressing Academy and what you could expect. Read our blog to find out how to get started with the process, which options you could qualify for, and more!
Who Can Qualify for Financial Aid?
Although there are some factors that can affect your eligibility for financial aid like income level or household size, these will not automatically disqualify you from every type of financial aid. Even if you don’t think you’ll qualify, we encourage all of our students to apply for financial aid. You never know how much it could help you with your education!
Before you find out which financial aid options you could qualify for, you first have to fill out a Free Application for Federal Student Aid (FAFSA) form. The information you provide in your form combined with your tax income, household size, and many other items determines which form of financial aid could be available to you. This is an important step in your beauty education and should be done early in the financial aid process.
The steps to completing your form are listed on FAFSA’s website to help you get started. If you have any questions about what to put on your form or you just want some personal advice, our Financial Aid Coordinator would be happy to help and meet with you! After finishing this step, there are a couple of options that could become available to you.
There are two types of loans that could be available to you. A student loan is money for your education that you’re expected to pay back after graduation. Students at our school have the opportunity to apply for a Stafford Loan, which is also known as a Direct Subsidized Loan. Since this type is awarded based on financial need, the information on your FAFSA form determines if you qualify for this form of aid and how much money you would be allowed to borrow. While enrolled in one of our programs, the government pays the interest on this type of loan.
The other type of loan available to our students is a Direct Stafford Loan or Direct Unsubsidized Loan. This is available for anyone to qualify but unlike the Stafford Loan, the government will not pay the interest.
For both these types of loans, you’ll be given a 6-month time period after completion of your program before you’re expected to pay back the amount you borrowed.
A Parent PLUS Loan allows parents with qualifying credit to borrow money from the government to help pay for their dependent child’s education. Unlike a Stafford Loan, this type is not listed in the student’s name. The amount of money your parents can borrow from this loan will depend on the program cost as well as if you qualify for other forms of financial aid. Contact our team to learn more about the loan types and which ones could be available for your education.
Federal Pell Grants are awarded to students based on their financial need. The information you listed on your FAFSA application combined with your tax return will determine if you qualify for this type of financial aid. As opposed to a loan, the money you receive from grants will usually not have to be repaid after completing your education. There are a variety of factors that determine if you qualify and how much money should be awarded to you.
Financial Aid for Veterans
In addition to the financial aid options that may be available to you through FAFSA, we are proud to say that we also offer other financial benefits for our veterans. As a veteran in our program, you can apply for multiple educational resources available to you like the Post-9/11 Bill™, Montgomery GI Bill™, Reserve Education Assistance Program, and Survivors’ and Dependents’ Educational Assistance Program. We are so honored to have the opportunity to help our veterans with their education. If you or a family member is a veteran, schedule a tour with us to find out which of these financial aid options could be available to you.
At TONI&GUY Hairdressing Academy, we also offer scholarship options throughout our locations. Check out your local campus to research more about the current scholarship opportunities that could help you with your future in beauty!
Are you already financially prepared to start your beauty education? Through cash paying, you could pay for your tuition costs with your own cash as you begin the program you choose to pursue. This is a popular form of payment because it allows you to focus on learning what you love!
Learn More About Your Options
Now that you know more about the financial aid process, you’re ready to schedule a tour to start your beauty education. Our Financial Aid Coordinator will be happy to help you through every step of your process and answer any questions specific to your journey through one of our programs. We can’t wait to hear from you and help you get started!