Have you ever worried that you would not be able to afford an education? While the cost of school may seem difficult at first glance, there are many financial assistance options available to help those who qualify. We are here to help you understand your financial aid possibilities. Here are a few types of financial assistance available at The Salon Professional Academy (TSPA), Georgetown:
To assist with the cost of education, we offer several scholarships to our students. You can learn more about the scholarships on our scholarships page and fill out an application. If you would like to know more about who can qualify for scholarships, amounts of scholarships, or other questions then please contact us! Our Financial Aid Administrator can help answer your questions.
Federal Financial Aid
The federal government provides aid to students who qualify to help them with paying for their education. The government is the largest provider of financial aid in the United States. They provide over $120 billion in grants, loans, and other types of aid to more than 13 million students!
The two main types of federal aid available to beauty school students are student loans and Pell grants.
A student loan is money toward your education that you pay back once you’ve completed your educational program. Paying back the loan is the full responsibility of the student. While you can get loans from both government or private sources, “loans made by the federal government, called federal student loans, usually have more benefits than loans from banks or other private sources.” (Studentaid.ed.gov) You can learn more about the differences between federal and private loans here.
You can get a subsidized or an unsubsidized federal student loan. A subsidized student loan is calculated through financial need. You can work with our financial aid administrator to determine the appropriate amount. After you graduate you begin paying interest immediately, but you have a six-month grace period to begin paying off the principle. An unsubsidized student loan is also calculated with the financial aid administrator to determine a loan amount but does not require proof of financial need.
Pell grants are awarded to students based on financial need. They are not available to people who have already earned a college degree. The main difference between a loan and a Pell grant is that the grant usually does not have to be repaid.
When you fill out the Free Application for Federal Student Aid (FAFSA®) you will include income information for yourself or your parents depending on factors like how old you are and your marital status. That information will determine if you qualify to receive a Pell grant and the size of the grant. You can learn more about the other factors that determine eligibility for a Pell grant on the federal student aid website. Our financial aid administrator is also here to help! When you’re ready to apply for financial aid they will be an excellent resource for you.
The GI Bill® is a federal financial aid resource available to veterans to help them pay for their education. We are proud to offer support to our veterans here at TSPA, Georgetown.
To learn more about if you qualify, you can visit your local Veterans Affairs (VA) office. They will be able to help you complete an application, define benefits, and assist you throughout the process.
GI Bill® is a registered trademark of the U.S. Department of Veterans Affairs (VA). More information about education benefits offered by VA is available at the official U.S. government Web site at benefits.va.gov/gibill
Military Spouse Career Advancement Accounts Program (MyCAA)
MyCAA is a financial assistance benefit available to military spouses to help them with the costs of their education. Eligible recipients of MyCAA can receive a scholarship of up to $4000. TSPA, Georgetown is a participating school in this program because we know how important it is for military spouses to receive an education. To learn more about MyCAA and apply, you can visit the MyCAA website.
Why We Offer Financial Aid
Here at TSPA Georgetown we are accredited with the National Accrediting Commission for Career Arts and Sciences (NACCAS.) This accreditation, when combined with our good standing with the Department of Education, allows us to offer financial aid to students for qualifying programs and who meet the aid criteria.
Learn More About Financial Aid at TSPA Georgetown
As you can see, there are ways to make this financial investment in your future more affordable. If you’re ready to explore your financial aid options, please reach out to us! We know financial aid can be confusing, so we have people here who are able to work with you to find the right financial aid solution.
How much do you know about financial aid? Take our quiz to find out!