At Brown Aveda Institute, we believe every student should be able to obtain an education, regardless of financial status.
To make this possible, our Financial Aid Office assists students in locating sources of financial aid, filling out the necessary forms and understanding basic principles of money management. Financial aid is available for those who qualify.
The basic concept of financial aid is the determination of financial need. Financial need is defined as the difference between total school costs and the portion of the costs that can be expected to be met by a parental and/or student contributions.
HOW DO I APPLY FOR GOVERNMENT AID?
- You must first fill out a FAFSA form. You will need a copy of your previous year’s income tax return for this process.
- If you are considered independent, you will need only your Income tax information.
- If you are considered dependent, you will also need your parent's income tax information for the same year.
WHAT IS THE DIFFERENCE BETWEEN A “DEPENDENT” AND AN “INDEPENDENT” STUDENT?
- Dependent: classified by the government as someone under the age of 24, not married, with no dependents.
- Independent: classified by the government as someone who does not meet at least one of the criteria for dependency status.
WHAT IS A PIN NUMBER?
A PIN is a 4-digit number that is used in combination with your Social Security Number, name, and date of birth to identify you as someone who has the right to access your own personal information on Federal Student Aid Web sites, such as FAFSA on the Web. If applicable your parents may need to apply for a PIN as well.
The security of your PIN is important because it can be used to:
- Electronically sign Federal Student Aid documents
- Access your personal records
- Make binding legal obligations
HOW DO I KNOW WHICH FAFSA TO FILL OUT?
Contact the Financial Aid Department at Brown Aveda Institute for further details.
For any questions or information requiring financial aid or the consumer disclosures required to be provided by the school by the U.S. Department of Education, please contact Brown Aveda Institute between the hours of 9am and 5pm, Monday-Friday:
440-255-9494 ext. 403
440-255-9494 ext. 246
WHAT TYPES OF GOVERNMENT AID ARE AVAILABLE TO ME AT BROWN AVEDA?
We offer two types at Brown Aveda Institute; Pell Grants and Stafford Loans. Once our school receives your completed FAFSA, we will be able to determine how much you are eligible to receive.
Pell Grant - Grants are need based and do not require repayment. The maximum a Cosmetology Student can receive for one academic year is $5,645. The maximum amount an Esthetics Student can receive for the program is $3,763. However, in most cases, the full amount of Pell is not always awarded. The Pell Grant is based on your information provided on the FAFSA, need, school costs, and enrollment status.
Stafford Loan (subsidized and unsubsidized) - These are loans in the student's name. A subsidized loan does NOT accrue interest while the student is in school. An unsubsidized loan DOES accrue interest while the student is in school.
- A Full Time Dependent Undergrad student could borrow up to $5,500 in Stafford Loans within their first year (0-900 clock hours).
- A Full Time Independent Undergrad student could borrow up to $9,500 in Stafford Loans within their first year (0-900 clock hours).
Parent Plus Loan – Available to parents of students with dependent status. This is a loan in the student's parent name. The parent applying must have a positive credit standing to be eligible. This loan has a fixed rate of 7.9%. Payments begin after the second disbursement of loans while the student is in school. Under the circumstances that a parent is denied the Plus Loan, the student is automatically eligible to receive additional Stafford Loan funds up to $9,500.
WHAT IS BROWN AVEDA INSTITUTE’S SCHOOL CODE?
|FAFSA website (Free Application for Federal Student Aid)||www.fafsa.ed.gov||School Code for both Campuses = 036263|
|Entrance/Exit Counseling and Master Promissory Note (MPN) website||www.studentloans.gov||Master Promissory Note is required to accept Stafford Loan(s). Entrance and Exit Counseling are required so as to educate the student on their Stafford Loans before they start school and once again upon leaving school.|
|Financial Aid monitoring website||www.nslds.ed.gov||Shows a summary of all government money student has accepted for higher education and shows lender information|
|Federal Student Aid Website||www.studentaid.ed.gov||Resource site for Federal Student Aid|
|American Association of Cosmetology Schools||www.beautyschools.org||Resource site for Scholarship Opportunities|