FINANCIAL AID AND ASSISTANCE

FEDERAL STUDENT AID

Federal Student Aid

FAFSA stands for the Free Application for Federal Student Aid. By completing this form, you’re submitting required information to the Department of Education to determine your federal student aid eligibility. Applications must be completed every year in order for Capitol Beauty School to determine your federal and state eligibility for the following aid:

Federal PELL Grant - this grant is awarded to students who display exceptional financial need and have not earned a bachelor's, graduate, or professional degree. A Federal Pell Grant, unlike a loan, does not have to be repaid, except under certain circumstances. You may not receive Federal Pell Grant funds from more than one school at a time.

Direct Loans - Federal Student Loans are an investment in your future. You should not be afraid to take out federal student loans, but you should be smart about it. There are three different types of federal student loans that we offer:

• Direct Subsidized Loans - are loans made to eligible undergraduate students who demonstrate financial need to help cover the costs of higher education. Interest does not accrue on these loans until you drop below half-time status, terminate, or graduate from your program.

• Direct Unsubsidized Loans - are loans made to eligible undergraduate, graduate, and professional students, but eligibility is not based on financial need. Interest does accrue once they are disbursed by the Department of Education.

• Direct Parent PLUS Loans - are loans made to parents of dependent undergraduate students to help pay for education expenses not covered by other financial aid. Eligibility is not based on financial need, but a credit check is required. Borrowers who have an adverse credit history must meet additional requirements to qualify

Federal student loans offer many benefits compared to other options your may consider when paying for college:

• The interest rate on federal student loans is fixed and usually lower than that on private loans—and much lower than that on a credit card!

• You don’t need a credit check or a cosigner to get most federal student loans. (Does not apply to Parent PLUS Loans)

• You don’t have to begin repaying your federal student loans until after you leave college or drop below half-time.

• If you demonstrate financial need, the government pays the interest on some loan types while you are in school and during some periods after school.

• Federal student loans offer flexible repayment plans and options to postpone your loan payments if you’re having trouble making payments.

• If you work in certain jobs, you may be eligible to have a portion of your federal student loans forgiven if you meet certain conditions.

Before starting the FAFSA you will need to create an account with the Department of Education called an FSA ID and Password. The student (and parent is needed) will each create their own unique ID that is used as your electronic signature and to access various systems in regards to federal student aid.

Click HERE to create an FSA ID and Password before completing the FAFSA application

Click HERE to start the FAFSA Application online.

If you have any questions, please email the Financial Aid Office: finaid@capitolomaha.com

FINANCIAL AID APPOINTMENT

After you’ve started the Enrollment Process with Admissions, you can schedule your visit with the Financial Aid office.