Federal Student Aid (FAFSA)
To apply for federal student aid, such as federal grants and loans, you need to complete the Free Application for Federal Student Aid (FAFSA).
Steps to Complete the FAFSA
- Apply for a FAFSA ID
- Gather Information
- Complete the FAFSA, Headmasters School of Hair Design school code is 016668
Federal Pell Grant
A Federal Pell Grant is for students with financial need and does not have to be repaid. All students are automatically considered for a Pell Grant when the FAFSA is filed (see information above).
Student Loan Options
Direct Subsidized Loan
A Direct Subsidized Loan is a low-interest loan with a fixed interest rate in which the federal government pays the interest while the student is in school and during periods of authorized deferment.
Direct Unsubsidized Loan
A Direct Unsubsidized Loan is a low-interest loan with a fixed interest rate in which the student is responsible for the interest, and it accrues while in school, during the grace period and during periods of deferment and forbearance. It is not based on financial need.
Direct Parent Plus Loan
A Direct Parent Plus Loan is a Parent Loan for students. It enables parents with good credit histories to borrow money for their child’s expenses.
Federal Direct Student Loan Requirements
- Complete a Master Promissory Note
A promissory note is the contract between you and your lender that sets the terms of the loan you are taking. It is very important that you carefully read through each promissory note before you sign so that you fully understand your rights and responsibilities as a borrower. You will need your FSA PIN and at least two references to complete your Master Promissory Note (MPN). You must complete your MPN before any student loan funds will be disbursed.
- Complete Entrance Counseling
You will need to complete entrance counseling before any student loan funds will be disbursed. The purpose of entrance counseling is to ensure that you understand your rights and responsibilities as a new loan borrower ant that you understand the regulations governing each loan program, such as interest rates, grace periods, deferment/forbearance options, prepayment, consolidation, and other general repayment obligations. You are also informed of the consequences if you do not repay your student loans (default) and of various repayment strategies. Complete entrance counseling for Direct subsidized, Unsubsidized and Parent Plus Loans using FSA IDs.
- Complete the Annual Student Loan Acknowledgment
The Acknowledgment is an online session that will allow students and parents to see how much they have borrowed, preview what their monthly payments might be, and explain concepts such as capitalization and the difference between federal and private loans. The Annual Student Loan Acknowledgement should take less than 10 minutes to complete. The Acknowledgement must be done once each award year before your loan(s) will be disbursed.
- Complete Exit Counseling
If you borrowed a federal loan(s), you are required to complete exit counseling once you graduate or stop enrollment at Headmasters School of Hair Design. Exit counseling covers all subjects that were covered in entrance counseling, with an emphasis on repayment strategies. You must complete Exit Counseling within 30 days of graduating Headmasters School.
Headmasters School of Hair Design is authorized to enroll students who are eligible to receive military benefits. Please visit the Department of Veterans Affairs at https://www.va.gov/ or information about your eligibility. Once your eligibility is established, then you need to bring in the authorization document at the time of registration so the school can properly certify your enrollment to activate your benefit.
Headmasters School of Hair Design will inquire about each veteran‘s previous education and training, and request transcripts from all prior institutions, including military training, traditional college coursework and vocational training. Previous transcripts will be evaluated and credit will be granted, as appropriate.
Headmasters School of Hair Design permits any covered individual to attend or participate in the course of education during the period beginning on the date on which the individual provides to Headmasters School a Certificate of Eligibility (COE) for entitlement to educational assistance under Chapter 31 or 33 and ending on the earlier of the following dates: (1) The date on which payment from the VA is made to Headmasters School, or (2) 90 days after the date the institution certified tuition and fees following the receipt of the COE. Note: A Covered Individual is any individual who is entitled to educational assistance under Chapter 31, Vocational Rehabilitation, or Chapter 33, Post 9/11 GI Bill benefits.
Headmasters School of Hair Design will not impose any penalty, including the assessment of late fees, the denial of access to classes, libraries, or other institutional facilities, or the requirement that a covered individual borrow additional funds, on any covered individual because of the individual’s inability to meet his or her financial obligations to Headmasters School due to the delayed disbursement funding from the Department of Veterans Affairs under Chapter 31 or 33.
Contact the Financial Aid Office at Headmasters to talk more about any of the Financial Aid Programs at 1-208-743-1512.