FINANCIAL ASSISTANCE
SCHOLARSHIPS ARE FINANCIAL AWARDS GIVEN, BASED UPON ACADEMIC OR NON-ACADEMIC CRITERIA. SCHOLARSHIPS DO NOT NEED TO BE REPAID. THE ACADEMY OF CAREER TRAINING PROVIDES LINKS TO NUMEROUS SCHOLARSHIP OPPORTUNITIES. FOR ANNUAL DEADLINES, REQUIREMENTS, AND APPLICATIONS PLEASE VISIT SCHOLARSHIP SITES DIRECTLY.
THE ALICE MADDEN BARTON SCHOLARSHIP PROGRAM
CURRENT STUDENTS, HIGH SCHOOL STUDENTS, OR ANYONE INTERESTED IN COSMETOLOGY OR BARBERING AS A CAREER CAN APPLY FOR A SCHOLARSHIP.
AMERICAN HEALTH AND BEAUTY AID INSTITUTE- FRED LUSTER, SR. EDUCATION FOUNDATION SCHOLARSHIP
THE FUTURE SALON PROFESSIONAL SCHOLARSHIP WAS CREATED BY REGIS CORPORATION TO RECOGNIZE THE AFRICAN AMERICAN FUTURE PROFESSIONALS IN THE COSMETOLOGY INDUSTRY PROSPECTIVE. SCHOLARSHIPS WILL BE AWARDED IN $250 AMOUNTS FOR A TOTAL OF $3,000 AWARDED. TO BE ELIGIBLE FOR A SCHOLARSHIP, STUDENTS MUST HAVE AN 85%OR HIGHER AVERAGE IN SCHOOL AND MUST HAVE COMPLETED 300 HOURS. EXTRACURRICULAR ACTIVITIES, ATTENDANCE RECORDS, AND PREVIOUS COMPETITIONS/AWARDS WILL ALSO BE TAKEN INTO CONSIDERATION.
SPORTS CLIP SCHOLARSHIP IS A SCHOLARSHIP OPPORTUNITY AVAILABLE THROUGH THE AMERICAN ASSOCIATION OF COSMETOLOGY SCHOOLS (AACS), WHICH IS AWARDING MULTIPLE $1,000 SCHOLARSHIPS FOR COSMETOLOGY STUDENTS, WHO ATTEND AACS MEMBER SCHOOLS. ONLY ONE SCHOLARSHIP RECIPIENT WILL BE CHOSEN FROM AN INDIVIDUAL SCHOOL PER YEAR FOR THE PROGRAM.
THE FAROUK SYSTEMS USA/AACS COSMETOLOGY SCHOLARSHIP
THE FAROUK SYSTEMS USA/AACS COSMETOLOGY SCHOLARSHIP AWARDS STUDENTS ATTENDING AACS MEMBER SCHOOLS. SCHOLARSHIPS IN THE AMOUNT OF $1,000 ARE PROVIDED BY FAROUK SYSTEMS USA.
DREAM SHEARS/TRADE ESSENTIALS SCHOLARSHIP
DREAM SHEARS AND TRADE ESSENTIALS, AWARDS MULTIPLE COSMETOLOGY STUDENTS ATTENDING AACS MEMBER SCHOOLS SCHOLARSHIPS IN THE AMOUNT OF $500.
THE CND SCHOLARSHIP AWARDS ONE STUDENT ENROLLED IN A NAIL-ONLY PROGRAM FROM AN AACS MEMBER SCHOOL WITH A SCHOLARSHIP IN THE AMOUNT OF $500, THROUGH THE ACCESS TO COSMETOLOGY SCHOLARSHIP (ACE) SCHOLARSHIP PROGRAM
PAT GOINS MEMORIAL SCHOLARSHIP
THE PAT GOINS MEMORIAL SCHOLARSHIP PROGRAM AWARDS MULTIPLE $1,000 SCHOLARSHIPS TO COSMETOLOGY STUDENTS ATTENDING AACS MEMBER SCHOOLS.
OPI OFFERS MULTIPLE SCHOLARSHIPS FOR COSMETOLOGY STUDENTS ATTENDING AACS MEMBER SCHOOLS IN THE AMOUNT OF $500 EACH FROM THE SCHAEFFER FAMILY FOUNDATION.
JOE FRANCIS HAIRCARE SCHOLARSHIP
JOE FRANCIS HAIRCARE SCHOLARSHIP AWARDS $1,000 SCHOLARSHIPS FOR STUDENTS ENROLLED, OR APPLYING FOR ENROLLMENT TO A BARBER OR COSMETOLOGY SCHOOL.
THE NCEA ESTHETICIAN SCHOLARSHIP
THE NCEA ESTHETICIAN SCHOLARSHIP AWARDS $1,000 TOWARDS STUDENT EDUCATION FOR THOSE WHO MEET CERTAIN REQUIREMENTS, SUCH AS FINANCIAL CIRCUMSTANCES, ATTENDANCE AND MAINTAINING ACCEPTABLE GRADES.
THE AURIE J. GOSNELL SCHOLARSHIP
THE AURIE J. GOSNELL SCHOLARSHIP IS GIVEN ANNUALLY IN MEMORY OF AURIE J. GOSNELL. THERE ARE 4 SCHOLARSHIPS FOR $1,250.
LOANS
WILLIAM D. FORD DIRECT LOAN PROGRAM- SUBSIDIZED STAFFORD LOAN- A STUDENT CAN BORROW THIS TYPE OF LOAN TO COVER SOME, OR ALL OF THEIR SCHOOL EXPENSES. THE U.S. DEPARTMENT OF EDUCATION PAYS THE INTEREST WHILE YOU'RE IN SCHOOL AT LEAST HALF-TIME, AND FOR THE FIRST SIX MONTHS AFTER YOU LEAVE SCHOOL (GRACE PERIOD). THE AMOUNT OF LOAN CAN NOT EXCEED A STUDENTS FINANCIAL NEED.
- UNSUBSIDIZED STAFFORD LOAN- A STUDENT CAN BORROW THIS TYPE OF LOAN TO COVER SOME, OR ALL OF THEIR SCHOOL EXPENSES. THE U.S. DEPARTMENT OF EDUCATION DOES NOT PAY INTEREST ON SUBSIDIZED LOANS. A STUDENT IS RESPONSIBLE FOR PAYING THE INTEREST THAT ACCRUES ON THE LOAN FROM THE TIME THE LOAN IS DISBURSED UNTIL IT'S PAID IN FULL. THE FIXED INTEREST RATE OF 6.8% CAN BE PAID WHILE ATTENDING SCHOOL, DURING A PERIOD OF DEFERMENT, OR FORBEARANCE, IT CAN BE ACCRUED AND THE INTEREST ADDED TO THE PRINCIPLE AMOUNT OF THE LOAN.
- PLUS LOANS- PARENTS OF DEPENDENT STUDENTS CAN BORROW FROM THE PLUS LOAN PROGRAM. THE TERMS AND CONDITIONS OF THIS TYPE OF LOAN INCLUDE A REQUIREMENT THAT THE APPLICANT NOT HAVE AN ADVERSE CREDIT HISTORY. THE REPAYMENT PERIOD BEGINS ON THE DATE OF THE LAST DISBURSEMENT OF THE LOAN, WITH A FIXED INTEREST RATE OF 7.9%.
What is a Federal Student Aid PIN and what is it used for?
Your PIN is an electronic access code that serves as your personal identifier, and can be used every year to electronically apply for federal student aid, and to access your U.S. Department of Education records online.
Your PIN allows you to:
- “Sign” your application electronically and complete the student aid process completely online—no paper is involved.
- If you’re a dependent student and one of your parents has a Federal Student Aid PIN, he or she can sign the application electronically online as well.
- Make online corrections to your FAFSA.
- Access your Student Aid Report* (SAR).
- “Sign” a master promissory note* for a federal student loan.
- Access your federal student aid records online, including your student loan history information on Nation Student Loan Data Base System (NSLDS)
- You, and your parents, if you’re a dependent student, can apply for a PIN anytime at www.pin.ed.gov.
STEP II FILLING OUT A FAFSA
(FREE APPLICATION FOR FEDERAL STUDENT AID)
As you go through the online application process, FAFSA on the Web uses skip-logic, so only questions that apply to your situation appear on your screen. This makes the application process shorter.
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FAFSA on the Web identifies potential errors right away and prompts you to make on-the-spot corrections.
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You get online instructions for each question, and you can access live online help with a customer service representative for free if you have additional questions.
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By applying online, you can send your application information to up to ten schools (the paper form is limited to four schools). Our school code is 041269
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Once you submit your application, your information is immediately sent to the U.S. Department of Education. You’ll get a confirmation notice right away when you click on “Submit My FAFSA Now.”
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Your online application will be processed quickly, if you (and your parents, if applicable) provided electronic signatures using the PIN.
WHAT IF I NEED HELP FILLING OUT MY FAFSA?
- The Academy of Career Training is more than happy to help you with this process. Contact our Financial Aid representative at 407-943-8777.
- Help text is available and accessible for every question on the FAFSA if you apply online using FAFSA on the Web. You can also get free live help online at this Web site.
- Free help is also available online from Federal Student Aid.
- Contact the Federal Student Aid Information Center 1-800-4-FED-AID (1-800-433-3243) for assistance with any questions you have on either the paper or electronic FAFSA.
STEP III COMPLETE THE FEDERAL DIRECT MASTER PROMISSORY NOTE (MPN)
The electronic MPN site allows you to complete, and sign an MPN over the web. The process for completing an electronic MPN is simple. You will need to have your Department of Education issued PIN to begin the process.
You, or your parent can begin the student loan process by accessing the Department of Education’s Direct Loan Website.
Before a Federal Direct Loan borrower takes out a loan, they must complete entrance counseling. (Entrance counseling does not have to be conducted for parent PLUS borrowers.) The loan counseling includes: an explanation of the use of an MPN (Master Promissory Note); the importance of the repayment obligation; a description of the consequences of default; sample repayment schedules; borrower’s rights and responsibilities as well as other terms and conditions.
Loan (exit) counseling must also be provided before the borrower completes his or her course of study or otherwise leaves the school. Loan counseling will be completed with the Executive Director at your school close to the time you are scheduled to graduate.
INITIAL COUNSELING MUST INCLUDE:
ON-LINE ENTRANCE COUNSELING: - Before receiving a student loan, borrowers must complete an entrance counseling session. This quick and easy interactive counseling session provides useful tips and tools to help you develop a budget for managing your educational expenses, and helps you to understand your loan responsibilities.
DIRECT LOAN INTEREST RATES: - The U.S. Department of Education's National Student Loan Data System (NSLDS) allows you to access information on loan and/or federal grant amounts, your loan status (including outstanding balances), and disbursements made.
The U.S. Department of Education's NATIONAL STUDENT LOAN DATA SYSTEM allows you to access information on loan and/or federal grant amounts, your loan status (including outstanding balances), and disbursements made.
VERIFICATION FORMS
Each award year, a percentage of financial aid applications are selected by the United States Department of Education for verification. If a student is selected for verification, the Financial Aid Office will verify the application information submitted on the student’s Free Application for Federal Student Aid (FAFSA) and will adhere to the procedures explained below.
The verification process entails the review of tax documents and household information to ensure the accuracy of the FAFSA application. Most applications are selected upon a set of common edits developed by the U.S. Department of Education, which check data for consistency and logic. Other applications are selected by the Financial Aid Office after the application was checked against prior year applications that students have submitted, resulting in conflicting information.
Students selected for verification will be notified via email (if an email address is available), or by their campus representative. The notification will indicate the documents required for verification, the deadline for completing the process, and the consequences of missing the deadlines.
DOCUMENTATION NEEDED TO COMPLETE VERIFICATION
- Signed copies of federal tax returns, including all schedules, for the student applicant and his/her parent(s). Independent students need not submit parental information; however spousal information is required. * Please note that the tax information required is for the tax year preceding the academic year.
- Full completion of either a Dependent, or Independent Verification Worksheet. A worksheet will also be sent via email with the notification letter. Be sure to follow all instructions on the form and make sure all signatures are present.
- Additional documentation may be requested at the discretion of the Financial Aid Office.
VERIFICATION WORKSHEETS:
DEPENDENT WORKSHEETS:
2011-2012 DEPENDENT VERIFICATION WORKSHEET: The student and parent(s) should complete this verification form for tax year 2010, and submit it to the Financial Assistance Office.
2010-2011 DEPENDENT VERIFICATION WORKSHEET: The student and parent(s)
should complete this verification form for tax year 2009, and submit it
to the Financial Assistance Office.
INDEPENDENT WORKSHEETS:
2011-2012 INDEPENDENT VERIFICATION WORKSHEET: The student should complete this verification form for tax year 2010, and submit it to the Financial Assistance Office.
2010-2011 INDEPENDENT VERIFICATION WORKSHEET: The student should complete this verification form for tax year 2009, and submit it to the Financial Assistance Office.
LINKS TO REQUEST SUPPORTING DOCUMENTATION:
SOCIAL SECURITY ADMINISTRATION:Application to apply for a replacement Social Security Card.
INTERNAL REVENUE SERVICE: Request a transcript of your federal tax return.
