The Salon Professional Academy Appleton is proud to offer financial aid to those who qualify. To apply for financial aid students will be asked to fill out the FAFSA. This is the Free Application for Federal Student Aid. It will compile all of your information and determine your award amount. The award amount that you receive is based off of many things, including income and schooling.
There are two different types of loans that you can get through the federal loan system: subsidized and unsubsidized. The interest on subsidized loans is paid by the federal government while you are in school or your loans are deferred. Unsubsidized loans on the other hand, accrue interest while you are in school. This is important to remember as the money you borrow will have to be paid back, and the type of loan it is, will determine the interest and even the monthly payment amount.
Federal Pell Grant
When applying for federal aid through the FAFSA you are also applying for the Pell Grant. This is a federal grant that is distributed based on need. Pell grants are only available for undergrad students, or students receiving certain degrees. You can qualify for the federal Pell Grant as a student at TSPA Appleton. Unlike federal loans, Pell Grants do not need to be repaid, and can make a considerable dent in your education financing.
Summer Aid Benefit
As mentioned at the beginning, starting school in June can create an added benefit towards financial aid. This is because the FAFSA stretches from July 1st to June 30th in a year span, meaning that if you begin school prior to the June 30th cut off you will be receiving funds, and possibly even a Pell Grant, from the previous year and then again in July when the cycle resets itself. Utilizing the FAFSA scheduling in such a way can help to eliminate any funding gap you may have, as well as take full advantage of any pell grant you may receive, ultimately decreasing the amount you will have to pay back. If financials have been keeping you from pursuing your dreams, don’t let this June pass you by. Contact our Admissions Team and get your application process started before time runs out! The start date for June is the 25th!
*Financial aid, scholarships and payment plans are available to those who qualify. The Salon Professional Academy Appleton is located at 3355 W. College Ave. Appleton, WI 54914. Feel free to call us at 920-968-0434 for more information or go to www.tspaappleton.com.