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Loans


Loans in beauty Schools

If you are thinking of enrolling in beauty or cosmetology school there are one or more options available to help you pay for tuition, a viable option is a student loan . This type of loans is based primarily on financial need. In contrast, scholarships are based off of merit and past performance in academics.

Many financial counselors suggest taking advantage of federal financing options. If your federal financial aid package does not cover everything or you need additional funds, apply for private loans to cover the entire cost of education. Student loans that will help you pay for beauty school are private, credit-based financial products.

There are two types of student loans: federal and private loans. You can apply for both types of loans with the application FAFSA.

Federal student loans provide financial help for students enrolled at schools that participate in federal aid programs and the private student loans provide supplemental funding to cover unmet need. Federal student loans generally cover school expenses, including tuition and fees, room and board, books and school supplies, as well as any transportation whereas private student loans can be used for any expense. The amount of aid you can receive will be based on your income.

How to Apply For a Beauty School Loan

  1. The first step in applying for a beauty school loan is to choose the beauty school you attend.
  2. Verify that school is an accredited beauty school. The reason for this is that many loan officers only confer loans to students who are attending accredited beauty schools.
  3. After verify the beauty school you attend, analyze your income (including your job, disability, child support, and any other sources of income you may have)
  4. Find out you about how much money you have in the bank.
  5. Verify the last year's tax records
  6. Remember that loans need to be paid back after graduation.
  7. After analysis your income and tax records locate the beauty school's address and phone number to communicate. If so, call the contact person.
  8. When you call to the school you should request an appointment to speak with a financial aid officer. Use your pen and paper to jot down important notes and items that you will be required to bring to the appointment, or submit from its website a request for more information that you are interested in attending. Be sure to check the box which indicates that you are interested in financial aid and loan information.
  9. Wait the callback or email reply.

Loans Resources

  • International Beauty & Cosmetology School Accreditation Board The International Beauty & Cosmetology School Accreditation Board (IBCSAB) has been the international leading organization for institutional accreditation of postsecondary schools and departments of cosmetology arts and sciences since its foundation in 1994.

  • FAFSA The Free Application for Federal Student Aid ensures that all eligible individuals can advantage from federally funded or federally guaranteed financial assistance for education further than high school.

    The Free Application for Federal Student Aid (FAFSA) is a form that can be filled out annually by current and anticipating college students. It ensures that all eligible individuals can advantage from federally funded or federally guaranteed financial assistance for education further than high school.

  • Federal Perkins Loan Undergraduate, graduate and professional degree students are eligible for loan which must be paid off within 10 years. Undergraduate students can borrow up to $4,000 per year, for a total of $20,000.

  • Sallie Mae SLM is a leader in profitable student loans. The corporation has cornered the market on identifying student populations with financial needs unmet by federal loans. The Continuing Education Loan and the Career Training Loan both feature appealing characteristics that make them appropriate for beauty school's students. For further information, visit the web site at www.salliemae.com

  • Federal Student Aid for College or Career School The U.S. Department of Education provides loans, grants, and work-study chances to eligible students attending participating colleges or career schools. The vast majority of the Department's aid is not based on academic value. For further information and an online application, visit the web site at www.studentaid.ed.gov

  • Federal Stafford Loan In the past the Guaranteed Student Loan, this low-interest loan is accessible to qualified students through the lending institutions or agencies participating in the program, and is guaranteed by the government.

    There are two types of Stafford Loans; subsidized and unsubsidized. Subsidized loans are awarded based on financial need. If you are eligible for a subsidized loan, the government will subsidize (i.e. pay) the interest on your loan while you are attending school and the first six months after you leave school in contrast unsubsidized loans, Interest is charged during all periods, including while you are in school, grace periods, and suspension periods.

  • Federal Parent Loan for Undergraduate Students The PLUS loan offers additional funds to help parents pay for educational expenses for dependent students. This kind of loan is an alternative to other types of financing because it allows your parents to assist you, without having to borrow against their assets or other property. Interest is charged during all periods.