WRIGHT BEAUTY ACADEMY - updated  2018
paying for beauty school and the available financial aid for student

Paying for school doesn't mean you have to have the money up front. There are many ways you can pay for your education.




You can afford a quality education! Wright Beauty Academy participates in the Federal Student Aid Program, which can help make your education affordable and attainable. 

During your Career Planning Session your Financial Aid Coordinator will explain all of your financial options and explain everything you need to know to create a financial plan that works for you. In an attempt to make education something everyone can afford, Wright Beauty Academy offers competitively priced career programs, and the option of an interest free payment plan. 

If you wish to apply for Financial Aid, or if you have questions, contact Wright Beauty Academy Financial Aid Office at 269-964-4016. Additional information regarding the student aid programs may be found in the “Free Application for Federal Student Aid” (FAFSA) published by the U.S. Department of Education. Go to http://fafsa.ed.gov for more information and to apply.

Compliance Statement:
The Federal Privacy Act of 1974 requires that students be notified that the disclosure of his/her social security number is mandatory. The social security number is used to verify students’ identities, to process the awarding of funds, the collection of funds, and the tracing of individuals who have borrowed funds from federal, state or private programs. Students who enter into an agreement regarding a Title IV loan will have that information submitted to NSLDS and accessible by authorized agencies, lenders, and institutions.

A student is eligible for Federal Financial Aid at Wright Beauty Academy if he/she:
• Is enrolling in the Cosmetology or Nail Tech program
• Is a U.S. citizen or eligible noncitizen
• Has a valid social security number
• Not owe a refund on a Pell Grant at any school
• Not be in default on a Federal Direct Stafford Loan at any school
• Maintains satisfactory academic progress while in school • Be registered for selective service (if the student is male between the ages of 18-25)
• Have a High School Diploma (or equivalent), or a GED.

Application for Federal Financial Aid
The Free Application for Federal Student Aid (FAFSA) needs to be completed to determine eligibility for Federal Financial Aid. Documentation to substantiate the data entered on the form may be required by the Financial Aid Office. Forms and assistance in completing them are available at Wright Beauty Academy. In addition to the FAFSA, Wright Beauty Academy requires a series of forms as they apply to the individual student aid program and to the student’s individual family circumstances.
Some FAFSAs are selected by the Department of Ed for a process called Verification. If a FAFSA is selected, there are additional forms and documents required. Students who have not yet enrolled must have these documents in the office prior to class start. Current students will be required to have their verification paperwork in before any further disbursements can be made, with a maximum limit of 30 days from notification. Students selected will be notified by phone or email, and forms will be handed to the student along with a list of required documents, such as a signed copy of a tax return or proof from DHS of SNAP. Once everything has been turned back into the FA office, the file will be verified by our office and an independent 3rd party servicer. Any corrections needed will require a student signature.

In the event that the Financial Aid Director feels that special circumstances may warrant a change in FAFSA information, there may be cause for Professional Judgment or Dependency Override. These very rare occurrences are handled on a case by case basis. If a Professional Judgment or Dependency Override is deemed to be in the student’s best interest, documentation will be required from the student. A list of what documentation will be given to the student, along with any forms. The student will be given a deadline. Once the documentation is received by the Financial Aid Director, the file will be verified, and changes to the FAFSA made if required.
All Title IV funds are awarded based on eligibility. You can determine your eligibility by filing a Free Application for Federal Student Aid (FAFSA). The application can be found online at www.fafsa.ed.gov. You must be fully enrolled at Wright Beauty Academy before any Title IV aid will be disbursed on your behalf. To ensure that Wright Beauty Academy receives your FAFSA, you can add our school code, which is: 012291 . If you have entered our school code on your FAFSA, we will receive a report and will be able to determine the types and amount of aid you are eligible for.

While receiving financial aid, the student has the following responsibilities:
• The student has the responsibility to remain in Satisfactory Academic Progress (SAP).
• The student must complete all application forms truthfully and accurately.
• The student is responsible for providing all documentation to the financial aid office in a timely manner.
Failure to do so could result in not receiving a financial aid award.
• The student is responsible for reading and understanding all materials he or she signs and for keeping copies of those documents.
• The student is responsible for all agreements that he/she signs.
The Academy offers the following financial aid programs to those who qualify
Wright Beauty Academy is approved for, and participates in, the following U.S. Department of Education programs intended to defray the costs of school for those students eligible for financial aid considerations.

Federal Pell Grants
Pell grants are awarded only to first-time undergraduates. This is gift aid and does not require repayment; however, students must demonstrate financial need to qualify.

Federal Direct Stafford Loans:
Funds received from either of the loan programs are subject to repayment from the student. Loans are submitted to NSLDS and accessible by authorized agencies, lenders and institutions.
• Stafford Subsidized Loans –Students must demonstrate financial need to qualify for Subsidized loans. The Department of Education pays for your interest while you are in school and during grace and deferment periods. The student would pay a combined origination/ guaranty fee of 3% rebated directly to the U.S. Department of
Education. Currently Stafford Subsidized loans are offered at a 5.045%/1.062% interest rate
• Stafford Unsubsidized Loans – Students do not need to demonstrate need for unsubsidized loans. Students are responsible for interest during the life of the loan. Currently Stafford Unsubsidized loans are offered at a 5.045%/1.062% interest rate.
• Federal Direct PLUS Loans – non need based loan. Available to parents of dependent students to contribute to their child’s education. This is a loan for parents and requires repayment. The PLUS provides low interest rate loans to parents of undergraduate students regardless of financial need. These funds assist students with educational expenses.
Information disclosed to student or parents of students who enter into an agreement regarding a Title IV HEA loan will be submitted to NSLDS and Accessible by authorizing agencies, lenders and institutions.

Federal Financial Aid Disbursement

For Students who are receiving Federal Student Aid, the school apportions tuition in proportion to the number of clock hours in each payment period for purposes determining the amount of tuition charges applicable to each payment period. All other charges and fees, including but not limited to charges for Books/Kit, are assigned to the Student’s first payment period.

All financial aid payment periods are based on a 900 clock hour award year.  Cosmetologists have 2 450-hour payment periods for the first award year, and 2 300-clock hour periods for the 2nd award year. Nail Techs have 2 300-clock hour periods. 

Counseling
Students who participate in the Direct Loan program are required to complete Entrance Counseling before loans are disbursed, and Exit Counseling upon graduation or withdrawal. Counseling is completed at StudentLoans.gov

Estimated Loan Repayment Schedule
The following document contains an estimated Loan Repayment schedule, based on the maximum allowed loans for the cosmetology program ($16,500), at 5% interest. This repayment schedule does not include loans you may have from another school or program. Nail Tech program maximum loans is $6335. 
Not all students qualify for, or choose to accept, the maximum loan amount. 





To begin the financial aid process, click the following link, and fill out your FAFSA. We will contact you as soon as we receive it, usually in 3-4 days.


Battle Creek School Code: 012291