Have financial questions? American Beauty Academy is happy to help!
Please give us a call to speak with a financial advisor:
Salt Lake Valley Campus: (385) 377-7366 Payson, Utah Campus: (801) 634-4413
Types of Financial Aid Available
GrantsGrants are money for tuition that does not have to be paid back. All students should consider these two federally funded grants before seeking any other kind of financial assistance: The Federal Pell Grant Program awards assistance solely on the basis of financial need. Your grades in high school and college are not a factor. You have to be a US citizen or a qualifying non-citizen, and you must be enrolled in a program that leads to a degree or a professional certification. Grants are available whether you go to school full- or part-time. You may be awarded a smaller grant if you go to school part-time. The maximum Pell grant award in the 2019-2020 school year was $6,195 and it is likely that the program will have the same grant limit for students enrolled 2020-2021. Begin your Pell grant application by completing the Free Application for Federal Student Aid (FAFSA). You have to fill out the FAFSA form every year to continue to be eligible for a Pell grant. If your mother or father died in Iraq or Afghanistan, additional Pell Grant funding may be available. Ask the school for further information. Be sure to ask the school about a "year-round Pell" if you plan to take classes continuously until you get your certificate. The school has been allocated enough Pell Grant funding to make sure that every student who qualifies gets a grant. Other resources for grant funding we are approved for include Workforce Services Vocational Rehabilitation for students recovering from a disability if they. We are an approved training provider for the Utah Department of Workforce services as well.
ScholarshipsWhile grants are usually based on need, scholarships are usually based on merit. Students and future students who show promise of success as barbers and cosmetologists may receive scholarships to help with the cost of school tuition. The partners of Beauty Changes Lives has awarded $3.1 million dollars to 580 students studying barbering, cosmetology, and nails as well as to career professionals. Awards are funded by leaders in the industry and range from $500 to $15,000 per student. Scholarship donors may be looking for future beauty experts for cancer patients, future experts in nail technology, or simply for people with an unusual talent for making people feel good about themselves. Applications may require an essay, a video, or a storyboard, and are highly competitive. Winning a Beauty Changes Live scholarship will help you in future career success. The Joe Francis Haircare Scholarship Foundation awards 19 scholarships of $1,200 every year to deserving students. There are some very strict rules about when you can apply for this scholarship. You must apply between January 1 and June 1 for scholarships that cover fall tuition. If you are going to graduate before August 31, you are not eligible to apply. The foundation prefers to receive applications online. Students who apply for the Joe Francis Haircare Scholarship are required to answer two essay questions and to provide two letters of reference. Besides the $1200 paid directly to your school, the scholarship is an additional credential for getting a job at over 1,000 Joe Francis salons around the world when you graduate.
LoansFederal agency Sallie Mae is the leading source of subsidized and unsubsidized student loans. Their Career Training Smart Option Student Loan may cover up to 100 percent of the cost of attending your training school. Minimum amount that can be borrowed is $1,000. If a co-signor is required for your loan, they can be released after you make 12 timely payments if you meet certain credit requirements. We are also certified for student loans through Mountain America Credit Unionwhere you can you can apply for a personal loan Wells Fargo Bank has a Student Loan for Career and Community Colleges. They consider your credit history in making a loan but may make loans to students who have acceptable co-signers. You can make a request to release your co-signer after you have made 24 to 48 timely payments. Wells Fargo lends $1,000 to $20,000.
VA BenefitsAre you a veteran? American Beauty Academy is approved to accept GI Bill benefits at both campuses and programs. Depending on what the individual qualifies for and if the program is approved, VA may pay for tuition and fees. There may be an allowance for housing and books, based on qualifications and approval. Enter your service information and choice of school into the GI Bill Comparison Tool online to see the exact amount of your potential benefits. *GI Bill® Is a Registered Trademark of the U.S. Department of Veteran Affairs (VA). More information about education benefits offered by the VA is available at the U.S. government website www.benefits.va/gov/gibill
Apply for Financial AidFill out your FAFSA application to find out what you qualify to receive.Use our FAFSA School Code 041699.
Accreditation of Cosmetology School and Eligibility for Federal Student AidFor most students pursuing barber or cosmetology careers, financial aid is the way to get into school and get your education paid for. Before you apply to a cosmetology school, barber school, or any other academic program(s) beyond high school, check to validate the accreditation status of the school. Make sure you are applying to a school that is actually authorized to accept payment by state or federal financial aid for cosmetology school, or from your scholarship(s), or other student funding types. Grants, scholarships, and loans for funding educational courses each have their criteria for eligibility. For example, the U.S. government has general requirements that all applicants must meet in order to qualify for federal student financial aid. The basic requirements include U.S. citizenship or legal residency status, proof of a high school diploma or GED, and acceptance to an accredited school. The beauty college you plan to attend must be qualified as a Title IV school, in order for you to qualify to receive federal financial aid to attend. Your cosmetology school's financial aid advisor can help you confirm that the school to which you are applying is accredited, and thereby approved to receive payment by federal student financial aid. To be classed as a Title IV school, a school must meet these criteria:
- Be currently licensed and/or legally permitted to operate in the state,
- Provide one or more programs that lead toward a degree or to employment,
- Have Title IV school certification from the Department of Education (DOE),
- Have accreditation or pre-accreditation through a DOE-approved agency.
How to Pay for Continuing Education Credits?In many states, cosmetologists are required to earn continuing education units (CEUs) in order to be eligible for license renewal. In Utah, continuing education is not required license renewal, however, cosmetologists benefit from CE for professional development. CE courses and events are critical opportunities for talented people in the field to:
- Keep skills updated and industry knowledge current.
- Expand their skill sets to multiply new career options.
- Prepare for advancement through CE salon management courses.
- CE scholarships offered for their attendees by some conferences.
- CE sessions hosted by the Utah Beauty Association.
- Scholarships offered by other salon industry associations for some certification programs.
- Possible in-house continuing education opportunities offered by your employer.
- Scholarships offered by top cosmetology schools for regular CE courses they offer.
- Funding from your salon employer for external CE courses.
- CE courses that may be offered free of charge for alumni by the beauty college you attended.