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Financial Aid

To make your education at Shear Excellence Hair Academy more affordable our Financial Aid Office can help you identify, understand, and qualify you for a variety of financing and financial aid options. Financial Aid is intended to assist prospective and current students with education and essential cost-of-living expenses. Funds are awarded primarily on the basis of financial need and are coordinated to supplement parental support, student employment earnings, savings, and assistance from other sources. Available assistance includes federal financial aid programs and other aid, such as GI Bill and scholarships.

Shear Excellence Hair Academy’s primary goal is to assist students in achieving the educational career goals by providing appropriate financial resources. The Financial Aid office is committed to:

  • Represent the Academy with the highest level of ethical behavior
  • Making every effort to assist students and families with their financial needs
  • Attend CE training seminars for Title IV funding to stay current with all DOE regulations
  • Perform a needs analysis in a consistent manner for each student desiring to apply for financial aid

Our staff will walk you through the process step by step and answer any questions you may have.

Federal Financial Aid Programs
Federal financial aid programs are available for students who qualify. These include both grants, which do not need to be repaid, and loans, which must be repaid after six months from your last date of enrollment.

  • Pell Grants are a federally funded grant program. These grants are awarded based on a student’s Expected Family Contribution (EFC), Cost of Attendance, and Enrollment Status, and are determined through submission of a FAFSA to the Department of Education. Pell Grants do not need to be repaid and award amounts are not affected by other aid sources. The amount of Pell grants awarded can vary for each student but can reach a maximum of $5,650 per Academic Year (900 hours).
  • Supplemental Education Opportunity Grants are a federally funded grant program. These grants are awarded based on a student’s Expected Family Contribution, Cost of Attendance, and Enrollment Status, and are determined through submission of a FAFSA to the Department of Education. SEOG grants do not need to be repaid and award amounts are not affected by other aid sources. SEOG are granted on a first-come first-served basis, starting July 1 of each year, and is based on students with highest need first, until all funds have been disbursed. This program has a limited amount of funds allocated to it each year.
  • Direct Subsidized Loans are awarded based on each student’s demonstrated financial need, as determined by the school’s financial aid administrator and the FAFSA. These loans are interest free while the student is enrolled, at least half-time, at an eligible educational institution, or during authorized grace and deferment periods. Interest is charged when the loan is in a repayment or forbearance status. Students are not required to make payments on subsidized loans while enrolled at least half-time. However, students may choose to make regular or interest-only payments while enrolled.
  • Direct Unsubsidized Loans are awarded regardless of each student’s demonstrated financial need, but as determined by the school’s financial aid administrator and the FAFSA. These loans begin to generate interest charges immediately after disbursement. These charges may be deferred during at least half-time enrollment, grace, and deferment periods, but they will be capitalized (added to the outstanding loan balance). Students are not required to make payments on unsubsidized loans while enrolled at least half-time. However, students may choose to make regular or interest-only payments while enrolled.
  • Direct Parent PLUS Loans are long-term, low-interest federally funded loans awarded to parents of undergraduate students. PLUS Loan funds can be used to supplement other sources of aid to help meet the family contribution portion of the cost of education. Parents at all income levels are eligible for consideration pending credit approval. In order to qualify for a PLUS loan, the student for whom the funds are intended must be attending school on at least a half-time basis in an approved program. Eligibility is based on the borrow creditworthiness. Dependent student applicants whose parents are denied a PLUS loan based on an adverse credit decision become automatically eligible for the Unsubsidized Loan Program.

For more information or to apply for federal financial aid, click here. For information on disbursements and disbursement of credit balances and repayments, see Shear Excellence Hair Academy Catalog.

Employer Tuition Assistance
Many companies provide tuition benefits to their employees in the form of either direct payment to the school, or by reimbursing tuition expenses directly to the employee/student. Please check with your company’s Human Resources or Training and Education Department for more information about the education benefits available to you.

Military Educational Benefits
There are a number of opportunities provided by the government to both active duty military and veterans to finance their education. Certifying Officials on campus will guide you through the application process.

Scholarships
A scholarship is a financial aid award given based upon prior academic achievement or a range of other non-academic criteria. Scholarships do not need to be repaid.

The Academy offers scholarships periodically throughout the year, depending on current funding. ACE Grants are designed to help you begin your career in cosmetology. Scholarships are sponsored by three major beauty industry associations: the American Association of Cosmetology Schools (AACS), the Cosmetology Advancement Foundation (CAF), and the Beauty and Barber Supply Institute (BBSI). ACE Grants are the first ever industry-wide effort to encourage highly motivated and qualified individuals to join the world of cosmetology, restricted barber and nail technology.

A number of websites offer students information and the opportunity to search thousands of scholarships to find ones for which they qualify (including other military scholarships). To begin your search for scholarships, visit the Department of Education’s website by clicking here.

Please note that the loan cost offered by such lenders may not be the lowest available.

Students are encouraged to visit lender websites in order to find the rates, terms, and services that are right for them. Students considering private loans should realize that they may qualify for loans or other assistance under Title IV (Federal Financial Aid). The terms and conditions of loans made, insured, or guaranteed under Title IV may be more favorable than the provisions of private education loans. For more information on Federal Financial Aid programs, please visit http://studentaid.ed.gov.

At Shear Excellence Hair Academy, we are committed to providing students the best customer service and information regardless of the choice of lender. However, Shear Excellence Hair Academy is not a lender and is not providing legal, accounting, or financial planning services. Any agreements entered into with the lenders exist solely between the lender and the student, and Shear Excellence Hair Academy assumes no obligation or liability in connection with any of those agreements. That is why Shear Excellence Hair Academy recommends that students consult with their own advisors before making educational financing decisions.

Shear Excellence Hair Academy In-House Payment Program
Shear Excellence Hair Academy offers its students zero interest in-house payment programs in addition to the above illustrated funding services. Affordable contracted payment schedules are available for persons wishing to pay their tuition on their own or to supplement their payment schedule along with other payment options offered. Inquire with the Financial Aid Department for more details.

Financial Aid Links

Below are helpful links for financial aid assistance: