Financial Aid

Financial aid is available for those who qualify. Financial aid is funding that helps eligible students cover the cost of their education. This can include grants, federal student loans, and other assistance programs for qualifying students. Financial aid is designed to make pursuing your education more accessible by reducing out-of-pocket costs while you’re in school. At Carolina College of Hair Design, we accept the Federal Pell Grant, Direct Subsidized Loan, and Direct Unsubsidized Loan. Grants like the Federal Pell Grant are “gift aid” from the federal government and do not need to be paid back. Loans like the Direct Subsidized Loan and Direct Unsubsidized Loan must be paid back with interest. Eligibility for financial aid is determined by the U.S. Department of Education and is based on several factors, including financial need, enrollment status, and citizenship or residency requirements. To find out if you qualify, you’ll need to complete the Free Application for Federal Student Aid (FAFSA), available at studentaid.gov. In order to complete the application, you will first need to create an FSA ID.

How to Apply:

1. Create an FSA ID at https://studentaid.gov/fsa-id/create-account/launch
2. Complete the FAFSA Online at https://studentaid.gov/h/apply-for-aid/fafsa and apply using our school code: 041781
3. After your application is submitted and processed, you’ll receive an email with instructions on how to access an online copy of your FAFSA Submission Summary. This will not tell you how much aid you will receive, however, please review the Summary for accuracy.
4. Once you have completed the FAFSA, immediately reach out to let us know.

Application Tips:

1. Be accurate—errors cause rejections. Common mistakes include:
   1. Reporting monthly vs. yearly amounts
   2. Leaving fields blank instead of entering 0 or N/A
   3. Using commas or decimal points in numeric fields (always round to the nearest dollar)
   4. Failing to use your legal name
   5. Listing Adjusted Gross Income (AGI) as equal to total income from working (AGI is often larger)
2. Answer all questions unless instructed to skip.
3. If you are confused about any part of the application, call 1-800-4-FED-AID or contact us for assistance.

Information You Will Need:

1. Your legal name (as it appears on your Social Security Card) and date of birth
2. Your permanent address
3. Your Social Security Number
4. Your Driver’s License Number or state-issued identification card number
5. Your Alien Registration Number (A-Number) if you are an eligible non-citizen
6. Federal tax information, such as tax return documents
7. Records of untaxed income, such as child support, interest income, and veterans’ non-education benefits
8. Financial documents, such as bank statements and records of investments
9. Records of net worth of investments, businesses, and farms
10. Current balance of cash, savings, and checking accounts

You will be required to respond to a series of questions to determine if you are a dependent or independent student. If you are a dependent student, your parents will also need to complete their own information on the FAFSA. If you are a married student who did not file a joint tax return with your spouse, then your spouse will need to complete information on the FAFSA. These individuals will be referred to as contributors on the FAFSA. Your contributors will need most of the above information.

Other Financial Aid Options:

Completing the FAFSA is a great first step in exploring how to finance your education. In addition to federal aid, there are other options you may want to consider:

1. Private scholarships and grants: There are many scholarships specifically available for cosmetology students. Even smaller awards can add up and make a meaningful difference in reducing your overall tuition costs. Some options include:
   1. American Association of Cosmetology Schools (AACS)
   2. Beauty Changes Lives
   3. Cosmetology Scholarships at Scholarships.com
2. Private loans: If you do not qualify for federal loans, private loan options may be available. Be sure to carefully review all terms and conditions before borrowing to ensure you understand your responsibilities.

We encourage all prospective students to explore every available resource to make their education as accessible and affordable as possible. Any scholarships received by an outside organization must be reported to the school’s Financial Aid Director.