Metro Beauty Academy

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Programs Available

Federal Pell Grants – Up to $5,550, No Repayment

Pell Grants are the foundation of federal financial aid. Eligibility is determined by a standard U.S. Department of Education formula, which uses family size, income and resources to determine need. The actual amount of the award is based upon the cost of attendance, enrollment status, and the amount of money appropriated by Congress to fund the program. The Federal Pell Grant makes it possible to provide a foundation of financial aid to help defray the cost of a postsecondary education. Unlike loans, the Federal Pell Grant does not have to be paid back.

Pell Grants do not need to be repaid. Pell Grants for 2010-2011 will range from $0-$5,550 for 0-900hrs and $0-$2,158 for 900-1250hrs. Award amounts are unaffected by other aid sources.

Federal Stafford Loans – Low Interest, Must Repay

Federal Stafford Loans are available as subsidized, unsubsidized or a combination of both. The loan must be used to pay for direct and/or indirect educational expenses.

Federal Plus Loans – Based on Credit Score, Must Repay

The Federal PLUS Loan is available to parents of dependent undergraduate students. These loans are not based on need but when combined with other resources, cannot exceed the student’s cost of education. A credit check is required and either or both parents may borrow through this program. Repayment begins within 60 days of final disbursement of the loan within a loan period. Eligibility for this PLUS loan in based on the borrower’s creditworthiness.

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.

Financial Aid – Support and Guidance

If you need assistance during your Application Process, you will find the following contact info useful…
Contact Metro Beauty Academy’s Financial Aid Department – Toll Free at 1.888.782.7221
Call the FAFSA Hotline at 1.800.433.3243
Click on the ‘Help’ or ‘Help Live’ buttons at www.fafsa.ed.gov.
Visit online resources listed in our ‘Important and Helpful Links‘ section.
Visit www.finaid.org – a useful website for understanding Financial Aid.