Financial Aid Programs Opelousas School of Cosmetology is approved by the United States Department of Education to offer the following federal financial assistance programs where an eligible student is awarded a grant or loan for post-secondary education:
Federal PELL Grant : awarded only to undergraduate students who have not earned a bachelor's or professional degree; does NOT have to be paid back.
Federal Direct Subsidized Stafford Loan: low interest fixed rate loan for students attending school at least half-time; awarded on basis of financial need; interest does not accrue while students are attending school, during grace period and authorized periods of deferment; Must be paid back.
Federal Direct Unsubsidized Stafford Loan: low
interest fixed rate loan for students attending school at least
half-time; not awarded on basis of financial need; interest will accrue
while students are attending school, during grace period and authorized
periods of deferment; Must be paid back.
Federal Direct PLUS Loan: low
interest fixed rate loan for parents who want to borrow to help for their child's education; only available to parents without adverse credit histories; Must be paid back.
To be eligible to receive financial aid, a student must be enrolled as a regular student on at least a half-time basis.
ELIGIBILITY REQUIREMENTS Have a financial need Enrolled as a regular student in approved program Have a valid Social Security Number Is a U.S. citizen or eligible non-citizen Have a High School Diploma, General Education Diploma (GED), or HiSET Is not in default on any Federal Title IV student loans or owes a repayment on any Federal grant Registered with Selective Service (males only) Has not been convicted of a drug offense while receiving federal financial aid Maintains Satisfactory Academic Progress
BASICS OF DETERMINING FINANCIAL AID The basis of determining a student's financial need will be an analysis of the financial status of the student's and/or parents' income. This is accomplished by completing a Free Application for Federal Student Aid (FAFSA). These forms are available in your high school guidance counselor's office, our financial aid office, or on the web at http://www.fafsa.ed..gov . A student's financial need is based on cost of attendance, expected family contribution, and financial need.
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