As an accredited beauty school you may apply and be eligible for financial aid and grants as well as scholarship opportunities. We also have monthly payment plans available and access to other loan options. You can see if you’re eligible for financial aid by filling out your FAFSA here and entering the school code: 041350
Because every student’s situation is different we can’t guarantee the amount of funds you may be eligible for, however generally speaking students with an EFC of 0 are eligible for the full amount of Pell Grants and Federal Loans which will cover a majority or all of the cost of attendance.
Applying for Financial Aid is free and available to everyone, regardless of your financial situation. It’s alway a good idea to apply as you may be eligible for Grants up to $5920 for the 2017-2018 award year to help pay for tuition and you will need your 2015 taxes for the 2017/2018 school year
Watch a short video here on what the FAFSA is and how to apply or please feel free to call us at (239) 495-1810 and we can assist you over the phone or happy to setup an appointment to do so in person:
The U.S. Department of Education offers several Financial Aid programs for eligible students enrolled in eligible programs at Cozmo Beauty School: Federal PELL Grants, Federal Direct Student Educational Loans, and PLUS Loans. Students must have a High School Diploma (or equivalent) or GED in order to apply for Financial Aid. A FAFSA application must be filled out which will determine a students eligibility for any of the following programs Cozmo Beauty School offers.
The following is a brief overview of the aid available:
These are need based grants of Financial Aid that do not have to be repaid. They are awarded to help eligible students pay for their education after high school, if they attend an accredited school that is eligible to participate in the Federal Financial Aid program. The amount of Pell grant funds the student will be awarded will depend on their own financial situation as well as the length and cost of the course they are taking as determined by a student’s EFC after filling out a FAFSA. Students need to have a HS Diploma or GED to be eligible for Grants and Financial Aid
These are educational loans that may be available up to a maximum of $3,500.00 in subsidized loan funds and $2,000.00 in unsubsidized loans for a dependent student and $3,500 subsidized loans and $6,000.00 for an independent student in the first academic year (0 – 900 hours). Subsidized loans are need based and the federal government pays the interest while students are in school and through their grace period of six months. Unsubsidized loans are not need based; interest is either paid or allowed to accrue during a student’s time in school and through the grace period. During the second academic year (901 – 1200 hours), both dependent and independent students may qualify for a maximum of $1,500.00 is subsidized loans. Dependent students may be eligible for up $666.00 and independent students may be eligible for up to $2,000.00 in unsubsidized loans. Loans are disbursed by payment period. Funds will first be credited to tuition and excess funds will be disbursed to the student.
Your final loan eligibility is based on several factors among them: your estimated family contribution, cost of attendance, and total PELL awards. Cozmo Beauty School participates in the Direct Federal Student Loan Program so application is made through the school. Because these are loans, not grants, the student must repay these funds after graduation, typically over a period of 10 years. The interest rate on a student loan is adjusted annually, but has a maximum cap. Repayment starts six months after the student leaves the school. The six month grace period gives the student a chance to acquire a position in a salon and get their career under way before repayment begins. When repayment does begin, the payments can be as little as $50.00 per month and that includes principal and interest; however the payments usually average approximately $80.00 per month for graduates who utilize more than one loan.
These loans are for parents who want to borrow money to help pay for their child’s education. The interest rate on these loans is adjusted annually, but has a maximum cap of 9%. Repayment begins 60 days after the loans is fully disbursed.
For more detailed information of Financial Aid, please request “The Student Guide” printed by the U.S. Department of Education is available at no charge:
*Title IV Disclosure: Cozmo Beauty School does not discriminate on the basis of sex in the education programs or activities it operates and that it is required by Title IV not to discriminate in such a manner. Questions regarding Title IV may be referred to our Director of Financial Aid/Title IV Coordinator or to the Office of Civil Rights.
You don’t have to begin repaying most federal student loans until after you leave college or drop below half-time enrollment. However, PLUS loans enter repayment once your loan is fully disbursed (paid out).
Your loan servicer or lender must provide you with a loan repayment schedule that states when your first payment is due, the number and frequency of payments, and the amount of each payment. Keep in mind that your loan may have a grace period.
The grace period is a set period of time after you graduate, leave school, or drop below half-time enrollment before you must begin repayment on your loan. The grace period gives you time to get financially settled and to select your repayment plan. Not all federal student loans have a grace period. Note that for most loans, interest will accrue during your grace period.
Circumstances that may change your grace period include the following:
A forbearance is an arrangement to postpone or reduce your monthly payment amount for a limited and specific period during which you are charged interest. If you indicate a temporary inability, but willingness to pay the loan(s), you may ask for or be offered a forbearance. For all Direct Loans, interest that accrues during a forbearance is the responsibility of the borrower. When you re-enter repayment at the end of the forbearance period, any unpaid interest capitalizes (is added to the principal balance).
A deferment is a period in which repayment of principal and interest is postponed temporarily. During the deferment of a subsidized loan (Direct Subsidized and Direct Subsidized Consolidation Loans), the government pays the interest that accrues. For unsubsidized loans (Direct Unsubsidized, Direct PLUS, Direct Unsubsidized Consolidation, and Direct PLUS Consolidation Loans), you are responsible for the interest that accrues during the deferment period. If you have unsubsidized loans, any unpaid interest capitalizes (is added to the principal balance) when you enter repayment at the end of the deferment.
Deferment and Forbearance forms can be found by clicking the link below.
Login to the Direct Loan Servicing Center- Make payments, view your account balance and payment history, view payment options, consolidate loans, and much more.
Navigating your financial future provides comprehensive debt management tools to identify key solutions, which contribute to the effective management of student loan repayment. This program is composed of multiple resources dedicated to promoting a positive credit profile, fostering a deeper understanding of budgeting skills.
The calculator below takes into account the cost of attending Cozmo as well as estimate the cost you might spend in gas, rent to live in an apartment etc. The final calculation does not represent what Cozmo Beauty School would charge for you to attend Cosmetology School with us.