FINANCIAL AID POLICIES & INFORMATION

The basis of determining a student’s financial need will be an analysis of the financial status of the student’s and/or the parents’ income. This analysis is accomplished by completing a Free Application for Federal Student Aid (FAFSA) distributed by the U.S. Department of Education.

These forms are available:
• FAFSA on the Web www.fafsa.ed.gov

Financial need is based on:
• Cost of attendance
• Expected Family Contribution
• Financial Need

Loan Entrance Counseling

• Click here to download the Entrance Counseling Guide
  
  
• Borrower's Rights & Responsibilties
  
  
• Complete your ENTRANCE Counseling online at the Direct Loan Website

FEDERAL PELL GRANT
A Federal Pell Grant, unlike a loan, does not have to be repaid. Generally, Pell Grants are awarded only to undergraduate students who have not earned a bachelor’s or professional degree. For many students, Pell Grants provide a foundation of financial aid to which other aid may be added.

FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT
A Federal Supplemental Educational Opportunity Grant is for undergraduates with exceptional financial need – that is, students with the lowest Expected Family Contributions (EFCs) - and gives priority to students who qualify for Federal Pell Grants. An FSEOG does not have to be repaid.
     *Note: the FSEOG is not offered at all campus locations

DIRECT LOAN PROGRAM
Direct Loans are the Department of Education’s major form of self-help aid for students. Under the Direct Loan program, the lender is the U.S. Department of Education rather than a bank or other financial institution. You borrow directly from the federal government and have a single contact - the Direct Loan Servicing Center - for everything related to the repayment of your loans.

Types of Direct Loans available are:

Subsidized Stafford Loan
A subsidized loan is awarded on the basis of financial need. You will not be charged interest before you begin repayment or during authorized periods of deferment. The federal government “subsidizes” the interest during these periods.

Unsubsidized Stafford Loan
An unsubsidized loan is not awarded on the basis of need. You will be charged interest from the time the loan is disbursed until it is paid in full. If you allow the interest to accumulate, it will be capitalized – that is, the interest will be added to the principal amount of your loan and additional interest will be based upon the higher amount.

Direct PLUS Loans
These are low-interest loans available to parents of dependent students. Interest is charged during all periods.

Students are encouraged to apply for one type or a combination of the types of financial aid available.

A student who is subject to involuntary civil commitment upon completion of a period of incarceration for a forcible or non-forcible sexual offense is ineligible to receive a Pell Grant.

Information regarding our campus crime statistics may be found at: http://www.ope.ed.gov/security. Click on the link for "Get data for one institution/campus" in the upper right corner and type "Phagans" into the Name of Institution text box and click the search button at the bottom of the page.

Title IV Loan: School Code of Conduct*
a. We ban revenue-sharing with any lender
b. We ban receiving gifts from any lender
c. We prohibit contracting arrangements with any lender
d. We prohibit assigning of a lender to a first-time borrower
e. We prohibit refusal to certify or delay of certification based upon choice of lender
f. We prohibit offers of funds for private loans
g. We ban staffing assistance
h. We prohibit the receipt of compensation for advisory board service
*This code of conduct is in regards to the school Title IV FFELP loans. As of July 1st, 2008 most Title IV loans have been awarded through the Direct Loan Program of the US Dept of Education. The school does not currently offer FFELP Title IV loans through any lender. Therefore, we do not have a preferred lender arrangement or preferred lender list. Students can borrow or choose any lender for financial aid assistance.

If you served on Active Duty, you might be eligible for education benefits offered by the Department of Veterans Affairs. For example, the Post-9/11 GI Bill provides financial support for educational and housing expenses to individuals with at least 90 days of aggregate service after September 10, 2001, or individuals discharged with a service-connected disability after 30 days. You must have received an honorable discharge to be eligible for the Post-9/11 GI Bill. If you are currently serving in the military, you may be eligible for funding offered through the Department of Defense Tuition Assistance program. Check your eligibility status and the amount for which you qualify with your Service prior to enrolling. If you are the spouse or child of a service member who is serving on active duty Title 10 orders in the paygrades of E1-E5, O1-O2, or W1-W2, you may be eligible for financial assistance from the Department of Defense for education, training, and/or the occupational license and credentials necessary for a portable career. If you are the spouse or child of a service member, you may be eligible for transfer of the service member's Post-9/11 GI Bill benefits to you.

Special considerations will be made for readmissions for students that return to/from active military duty. Contact your school's administrative office for answers all questions regarding the readmission process and other details of your re-enrollment.

One of the great benefits of attending Phagans' Colleges is that we're members of the American Association of Cosmetology Schools, and as member schools, our students are entitled to apply for exclusive scholarships not available to everyone. Click here to access the scholarship page and take advantage of this great opportunity!

Please be aware of any Scholarship scams. If you are ever asked to pay a
fee to apply for a scholarship, it is usually not legitimate.

We have specific scholarship criteria for Phagans'. Please see the student catalog and handbook for the complete policy. The scholarships available through Phagans' are very limited in scope. We do however, participate in the AACS Ace Grant Program (see the Ace Grant Section below).

Other industry related scholarships can be found at:

• http://www.beautyschools.org/displaycommon.cfm?an=1&subarticlenbr=16
• http://oregonstudentaid.gov/ : Huffstutter Family Stylist Scholarship, Code #208
• For Esthetics only students: http://ncea.tv/scholorships-grants (application deadlines: March 1st, June 1st, September 1st, December 1st)
  

Visit www.college.gov and click the 'how to pay' tab for helpful resources
on preparing for college costs.

The following is an outline of the criteria a student must meet in order to receive a Phagans’ College based scholarship.  Credits for such will only be applied after all noted conditions and requirements have been met by the student.  Inquire with our Admissions Officers to find out more about these scholarships. 

1. The Student must have a High School Diploma or GED.

2. The Student must maintain at least 90% in each grading area for each grading period.  This includes Academic Class, Lab Class, Clinic and Attendance.  Averages are NOT allowed, no Exceptions.

3. The Student may NOT withdraw from or drop any course.

4. The Student may NOT take a Leave of Absence.

5. The Student must attend on a 40 hour per week contracted schedule, with no schedule changes during the entire enrollment period.

6. The Student must complete ALL graduation requirements and must fully complete the course(s) requirements.  These must be completed on or prior to the student fulfilling the clock-hour requirement for the course(s).

The Ace Grants are an industry-wide effort to encourage highly motivated and qualified individuals to join the world of cosmetology. Apply for this grant when you apply for college at Phagans', maintain the required attendance, meet other requirements, and this grant could be applied to your tuition at the end of your course. Click the link to get an application.
Ace Grant Scholarships 1-888-411-GRANT

1. ALL of the criteria noted above in #1 thru #6 (under Scholarship Criteria) and the following….

2. ACE Grant Applications must be received prior to enrolling at Phagans’ Cosmetology Colleges.

3. The Student must set an exemplary standard in Attitude, Performance, Appearance and Professionalism with all of the staff, students, clients and guests while enrolled at Phagans’ Cosmetology Colleges.

4. ACE Grants will be awarded during the Senior Level, after the Grant Committee has met and approved the Grant Award.