We understand that you are anxious to begin the journey towards a new career. But you now have the question, “Where do I begin looking for financial aid options that will help me attend school?” Our expert Financial Aid Department is prepared to help you analyze your financial situation and explore the best options for financing.
Acaydia School of Aesthetics is approved by the Department of Education to administer the following Title IV financial aid programs:
FEDERAL PELL GRANT
A Federal Pell Grant, unlike a loan, does not have to be repaid. Pell Grants are awarded usually only to undergraduate students who have not earned a bachelor’s or a professional degree. Pell Grants are considered a foundation of federal financial aid, to which aid from other federal and nonfederal sources might be added.
FEDERAL DIRECT LOAN PROGRAMS
Direct Subsidized Loans. Direct Subsidized Loans are for students with financial need. The Financial Aid Department will review the results of your FAFSA and determine the amount you can borrow. You are not charged interest while enrolled in school at least half-time and during grace periods and deferment periods. Your first payment is due six months after you leave school.
Direct Unsubsidized Loans: You are not required to demonstrate financial need to receive a Direct Unsubsidized Loan. Like Subsidized Loans, the Financial Aid Department will determine the amount you can borrow. Interest accumulates on an Unsubsidized Loan from the time it is first paid out. You can pay the interest while you are in school and during grace, deferment or forbearance periods. Or you can allow the interest to accrue and be capitalized (added to the principal amount of your loan). If you choose not to pay the interest as it accrues, this will increase the total amount you have to repay because you will be charged interest on a higher principal amount. Your first payment is due six months after you leave school unless you choose to pay the interest on this loan while you are in school.
Federal Direct Plus Loan (Parent Loan): Parents of dependent students may apply for a Direct PLUS Loan to help pay their child’s education expenses as long as certain eligibility requirements are met.
Please contact the Financial Aid Department for more details.
To determine eligibility for Title IV funding, a FAFSA (Free Application for Federal Student Aid) must be submitted. Forms are available in the Financial Aid Office at Acaydia, however, for faster processing it is recommended to complete the FAFSA online by visiting www.fafsa.ed.gov.
The school code for Acaydia School of Aesthetics is 041655. This code must be entered in order for the Financial Aid Office at Acaydia to receive your eligibility status. By correctly completing your FAFSA, we are able to determine what you will qualify for in Pell Grants and Direct Student Loans. (Subsidized and/or Unsubsidized.)
ADDITIONAL FUNDING SOURCES
Students who are not eligible to participate in Title IV programs, or need financing in addition to Title IV programs may be eligible for third party loans, installment plans and grant programs.
Mountain America Vocational Loan. Mountain America’s Education Line of Credit is a private student loan that helps students finance education while attending a vocational program or continuing education classes. Benefits are: No origination fees; no prepayment penalties; variable interest rates, loans up to $25,000, interest only payments during school. Please visit www.macu.com or call 1-800-7748-4302, option 2.
TFC Financing. Financing your tuition through TFC Credit Corporation, may be an option if you have credit issues. You will be supported by a major national financial organization that can help you to either establish your credit, or strengthen your credit rating. A strong down payment is usually required.
Veteran’s Affairs Assistance. The Montgomery G.I. Bill tuition assistance is available to those who qualify. Eligible persons may apply through the State of Utah Department of Veterans Affairs. More information is available by visiting www.gibill.va.gov.
Vocational Rehabilitation. The mission of the Utah State Office of Rehabilitation is to assist eligible individuals in obtaining employment and increasing their independence. If you are a person with a disability who needs assistance getting back to work, please visit www.usor.utah.gov, or call 1-800- 473-7350.
Installment Plans. Student may pay four equal monthly payments with no interest. Tuition is due in full before midpoint in the program, with the first payment due on or before the first day of class. Students using Title IV aid that does not cover the full tuition amount are eligible to make monthly payments for the remaining balance.
For further assistance, please contact the Financial Aid Office:
(801) 377-0025 extension 3