Metro Beauty Academy

Financial Aid at Metro Beauty Academy

Financial Aid at Metro Beauty Academy is intended to assist students with educational expenses and essential cost-of-living expenses. Financial Aid 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.

This financial need* is what determines the amount of aid. Every student, every family and every financial aid package are different. The Federal Financial Aid Programs available to Metro Beauty Academy students include Pell Grants, Federal Stafford Loans and Federal Parent PLUS Loans. Our Financial Aid Dept will assist every student that needs help with a customized and hands-on approach.

* Financial Need – Federal Student Aid is awarded on the basis of financial need. Financial need is the difference between your cost of education at Metro Beauty Academy and an amount (determined by the government) that you and your family are expected to contribute towards your education. A standard formula used for all applicants determines this amount, which is called the Expected Family Contribution (EFC). The information you report on your Free Application for Federal Student Aid Application (www.fafsa.ed.gov) is used to calculate your contribution. The amount remaining after subtraction the expected contribution from your cost of education is considered your financial need.

General Eligibility

To be eligible for most programs students must meet the following general requirements:

• Must be a United States citizen or an eligible non-citizen.
• Must be enrolled at least part-time in one of Metro Beauty Academy’s Programs.
• Must maintain Satisfactory Academic & Attendance Progress while attending Metro Beauty Academy.
• Cannot be in default of previous loans
• Men 18 years of age & older must be registered for the selective services

Federal Loan Online Entrance Counseling and Database

All Federal Student Loan Programs require Entrance Loan Counseling before the first federal loan proceeds can be applied to students accounts. The counseling session provides information about how to manage your student loans, both during and after college. It is critical that the student, and NOT the parent, completes the counseling session so as to ensure they understand the responsibilities of borrow and student loans.

This part of the process can be done online at www.studentloans.gov. If any student needs guidance, please contact Metro Beauty Academy’s Financial Aid Dept. Please note you may need up to 30 minutes to complete the counseling. You will need your Social Security number, Driver’s License number and two persons personal information (name, address, phone) for references.

The National Student Loan Data System (NSLDS) is the U.S. Department of Education’s central database for student aid. NSLDS receives data from schools, guaranty agencies, the Direct Loan program, and other Department of ED programs. NSLDS Student Access provides a centralized, integrated view of Title IV loans and grants so that recipients of Title IV Aid can access and inquire about their Title IV loans and/or grant data. More detailed student loan information published by the Department of Education is available at www.nslds.ed.gov.