FEDERAL FINANCIAL AID PROGRAMS:
The U.S. Department of Education offers several forms of federal financial aid to assist eligible students at Charles and Sue's School of Hair Design. These programs exist to help students pay for their educational expenses. Many students use a combination of different student aid programs to help pay their charges and other educational expenses.
WHO IS ELIGIBLE FOR FEDERAL FINANCIAL AID?
There are a number of eligibility criteria a student must meet in order to benefit from Federal Student Aid, including such requirements as having a valid Social Security Number (SSN) and being a U.S. citizen or eligible non-citizen. Learn more about these requirements by clicking the link below.
Federal Student Aid Eligibility Requirements
WHAT IS THE DIFFERENCE BETWEEN A "GRANT" AND A "LOAN"?
Grants are monetary awards available to students based upon their need for financial assistance. Grants do not have to be re-paid. Loans are available to most students at Charles and Sue's School of Hair Design (who meet the eligibility requirements for Federal Student Aid]. Loans must be re-paid via monthly payments. These payments usually do not begin for students until six months after the student graduates (or otherwise stops attending).
FEDERAL PELL GRANT:
A Federal Pell Grant is available to students with a high financial need according to a formula established by the U.S. Congress. To be eligible, a student must meet certain general requirements such as citizenship/permanent residency status and not being in default on a federal student loan. One unique requirement of a Federal Pell Grant is that recipients cannot have previously earned a bachelor's degree. Use the link below to learn more about Pell Grants, including maximum dollar amounts, payment calculation, and other details.
FEDERAL STUDENT LOANS:
Federal student loans are available to students who need additional funding to help pay for school. A loan is money you borrow and must be paid back with interest. If you meet the eligibility requirements for financial aid, you will be offered the option of federal student loans as part of Charles and Sue's School of Hair Design's financial aid offer letter. When you receive a federal student loan, you are borrowing money from the federal government. You must repay the loan as well as any interest that accrues. It is important to understand your rights and responsibilities before deciding to accept a federal student loan. To learn more about the types of federal student loans, the repayment terms, and your rights/responsibilities, click the link below.
FEDERAL PARENT LOANS (PLUS):
Parent Loans for Undergraduate Students (PLUS) loans are available to the biological or adoptive parent (or in some cases, the step-parent) of a student at Charles and Sue's School of Hair Design to help pay for education expenses not covered by other financial aid. Both the student and the parent must meet general eligibility rules for the federal student aid programs, and the parent borrower must not have an adverse credit rating. For more information on PLUS Loans and the on-line application process use the link below.
Remember!
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