EZ Guide to Federal Student Aid
If you are new to Financial Aid, we hope this EZ Guide helps you understand how financial aid works and how it can help you with funding your education. For more information, visit studentaid.ed.gov.
What is Federal Student Aid?
Federal Student Aid is a part of the U.S. Department of Education which provides more than $150 billion in federal grants, loan, and other funds to more than 15 million students wanting to pursue their educational dreams.
Federal Student Aid Eligibility
There are two parts to eligibility: (i) the school and (ii) the student.
Only schools who have been approved by the Department of Education can participate in FSA (Federal Student Aid) programs. The Department of Education requires schools to first be accredited by a recognized accrediting agency. Once a school is accredited, the school must apply to ED (The Department of Education) and meet further requirements including additional training. If the school is appropriately licensed, accredited, and meets ED’s criteria, then the school is allowed to participate in Federal Student Aid.
Your (Student) Eligibility
General eligibility includes that you:
- Have Financial Need
- Are a U.S. citizen or eligible noncitizen
- Have a Social Security number
- If you are a male, you must register with the Selective Service
- Choose a school that is eligible (see above)
- Have a General Education Development (GED) or high school diploma or have completed education in a homeschool setting approved under state law.
- Sign statements on the Free Application for Federal Student Aid (FAFSA)
- Lastly, you must maintain Satisfactory Academic Progress (SAP) while you are enrolled.
What Types of Aid Can I Get if I enroll at Professional Cosmetology Education Center?
Federal Student Aid includes:
- Federal Pell Grant. This does not have to be repaid. Pell Grants are awarded only to students who have not earned a bachelor’s degree.
- William D. Ford Federal Direct Loans. These are subsidized and unsubsidized federal student loans for eligible students to help cover the cost of education.