Financial Aid

Rosie_Amador
Rosie Amador
Financial Aid Director

At Salon & Spa Institute we work hard to provide our students with the best financial assistance possible.

Financial Assistance is available to those who qualify through the Financial Aid Office.

The school does not offer private education/institutional loans, nor does the school have preferred lender arrangements. Should a student insist on seeking a Private Educational Loan, loan certification will only be provided after a student has demonstrated need and exhausted all Federal Student Aid eligibility and a Private Education Loan Application Self-Certification must be completed.

A Student's Rights & Responsiblities

The student has the right to ask the school:
  • The name of its accrediting and their licensing organizations
  • About its programs; its instructional, laboratory, their physical facilities, and their faculty
  • What the cost of attending is, and the institutions policies concerning refunds and Return to Title IV (R2T4) to students who drop out
  • What financial assistance is available including information on all federal, state, local, private and institutional financial aid programs
  • What the procedures and deadlines are for submitting an application for each available financial aid program
  • How it determines a student’s eligibility and need for financial aid
  • How much of your financial need, as determined by the school, has been met
  • To explain each type and amount of assistance in your financial aid package
  • What the interest rate is on any student loan you have, the total amount you must repay, when a student must start repaying
  • Deferment of repayment or forbearance for certain defined periods, if you qualify and if you request deferment or forbearance
  • Provide written information on student’s loan obligations and information on your rights and responsibilities as a borrower
  • To reconsider your aid package, if you believe a mistake has been made, or if your enrollment or financial circumstances have changed
  • How the school determines when and whether you are making satisfactory progress (SAP) and what happens if you fail to maintain SAP.
  • How failing to maintain SAP affect your Title IV eligibility
  • What special facilities and services are available to student with disabilities and how to request a reasonable accommodation.
It is the student's responsibility to:
  • Review and consider all the information about the school program before enrolling
  • Pay special attention to the application process for Federal Student Financial Aid, complete it accurately, and submit it on time to the right place. Errors on the FAFSA can delay or prevent your receiving aid timely
  • Know and comply with all deadlines for applying and reapplying for aid
  • Provide all enrollment and verification documentations, corrections, and/or new
    information requested by either the Financial Aid Director or the agency to which you submitted the application
  • Notify the school of any information that has changed since you applied
  • Read, understand, and keep copies of all forms you were asked to sign
  • Ensuring you are aware that you must start making monthly repayment on your student loan after your grace period ends, unless you have a deferment or forbearance. When you sign your Master Promissory Note (MPN), you are agreeing to repay your loan
  • Attend an exit interview at the time you leave the school to determine the net balance of your account with the school as well as the net balance of any student loan
  • Notify the school of a change in your name, address, phone number, or attendance status (full/part-time student). If you have student loans, you must notify your lender of these changes
  • Understand your school's refund policy
  • Understand and comply with the enrollment status, financial charges, financial terms, time allowed to complete, refund policy and termination procedures as specified in the enrollment agreement sign
  • Understand that you may be responsible and have liability for portions of Title IV Funds return by the institution on your behalf
  • Understand that there could be liabilities when errors are made as a result of inconsistent information provided by the student and result in funds being awarded that a student was not eligible for are advanced to you or credited to your school account.

A current year FAFSA (Free Application for Federal Student Aid) is required to be completed prior to a determination of eligibility for all Title IV funds and prior to each new award year.

FASFA Information Center - 1-800-433-3243
FAFSA - www.studentaid.ed.gov

More On FAFSA

Title IV has certain requirements one must meet in order to receive a loan.

Title IV Eligibility

DARS
Texas Department of Assistive & Rehabilitative Services (DARS) assists people who have disabilities prepare for, find and keep jobs.  To locate an office in your area visit www.dars.state.tx.us or call 1-800-628-5115.
The school currently participates in the Pell Grant, Stafford Direct Loan and Parent PLUS Direct Loan programs. The school does not coordinate but will certify veterans, state, local government and private funding sources.

Need Based Aid (Pell Grant and Stafford Subsidized Loan) Calculation:
COA (Cost of Attendance) - EFC (Expected Family Contribution) = Need Eligibility Non-Need Based Aid (Unsubsidized Stafford and Parent PLUS Loan) Calculation: COA - EFA (Expected Financial Assistance/all other aid) = Non-Need Eligibility
COA = Budget – each student receiving an Award Letter estimating Title IV Eligibility will be assigned a Budget. The COA includes the following items: Tuition & Fees, Room and Board, Transportation, Misc/Personal, Books/Supplies and Other items such as special circumstances or expenses related to disabilities.
The school does not offer private education/institutional loans, nor does the school have preferred lender arrangements. Should a student insist on seeking a Private Educational Loan, loan certification will only be provided after a student has demonstrated need and exhausted all Federal Student Aid eligibility and a Private Education Loan Application Self-Certification must be completed.
The school does not employ enrolled students.
Students who borrow a Stafford Loan while attending the school must complete Direct Loan Entrance Counseling before funds will be certified.
Exit Counseling must be completed by all students who receive Title IV Direct Loans before graduating or withdrawing from school. If a student is unavailable to complete at the school a package a Direct Loan Exit Counseling Guide will be mailed to them for completion.
Counseling may be provided in person (individually or in groups), using audiovisual materials US Department of Education Publications and /or online. Student borrowers should be advised to complete online exit counseling or come to the counseling session at the school shortly before graduating, or ceasing at least half-time enrollment.
 Due to a class size fewer than 50 students the school does not release the gender and ethnicity of enrolled, full-time students who are enrolled or receive Title IV; doing so would lead to individually identifiable student recipients and violate their right to privacy. In additional to information published in this catalog details on Student Body Diversity, Federal Student Aid Recipient Details and Program Costs can be found on the College Navigator Website at www.nces.ed.gov/collegenavigator.
 NSLDS (National Student Loan Data System) is available at www.nslds.ed.gov where borrower’s loan history can be reviewed. Students without Internet access can identify their loan holder by calling 1-800-4-fed-aid. The borrower will be made aware that the information on the NSLDS site is updated by schools and the Department of Education and may not always have the most current information available. Information is accessible by guaranty agencies, lenders, and institutions determined to be authorized users of the data system.
The Ombudsman’s office is a resource for borrowers when other approaches to resolving student loan problems have failed at 1-877-557-2575.