Financial Resources - Financial Aid


Types of Financial Aid

Grants

  • Pell Grant
  • Minnesota State Grant

Grants are typically based on the students financial need and do not require repayment.

Loans

  • SELF Loan (Minnesota Office of Higher Education)
    Loans are a significant portion of most financial aid packages. The accumulated interest must be paid quarterly while in school and the loan re-payment period will start after graduation.  Interest rates are commonly lower than other types of loans.  Repayment periods vary from 2 years up to 30 year.

Minnesota SELF Loan

Apply for this student loan online at www.selfloan.org

Up to $7,500 is available with a qualified co-signer.  Additional funds may be available after completing 900 hours of the 2100 hour Cosmetology program.  The adjustable interest rate is currently at 3.8% (June 2018).  Interest only, paid quarterly, while in school and the first 12 months after graduation.


More Information

Financial Aid

FAFSA: All financial aid starts here!  All grant funds are determined based on your financial eligibility.  You must complete this application for any type of financial aid you are seeking.  If you intend to begin school July 1st, 2018 to June 30th, 2019, you will need to complete the 2018/2019 application using your 2016 Federal Tax Return.  If during the application process you are classified as a Dependent student you will also need access to your parent's 2016 Federal Tax Return.

  • Getting started: Go to www.fafsa.gov
  • Select applicable application year
  • Complete required personal and financial data
  • Use school code 041605
  • Sign the application and submit

Once you have submitted your FAFSA, print the confirmation page that appears on your screen.  This is your estimated financial aid.  The application will automatically be submitted to Avalon.  We are ready to create your budget!

Financial Aid Terms

  • FAFSA
    Online financial aid application
  • Need Analysis
    Using information provided on the FAFSA application, the income and assets of the student and parents are reviewed.  Many variables that affect the students and parents financial situation are considered, including the number of people in the household, number of children in college, age of parents, etc.
  • Expected Family Contribution
    This is the amount that the family and student could be expected to contribute toward the cost of attendance.  This amount is determined using the Need Analysis from above.
  • SELF Loan
    Online student loan application
  • Cost of Attendance
    The total cost of tuition, kits, books and fees charged by the institution.  Other expenses that may be included in the cost of attendance are room & board, transportation, and child care. 
  • Budget
    The comprehensive fees based on hour increments versus any qualified grants the student receives.
  • Estimated Financial Plan
    The total cost of tuition, kit, books, and fees versus any qualified grants the student receives based on distribution years.

Financial Aid Eligibility

All students are eligible to apply for financial aid. Students will be approved and receive Federal and State financial aid based on their Expected Family contribution calculation determined during the online FAFSA process.

All Students are eligible to re-apply for financial aid annually using their prior years tax returns. Students will receive an updated Expected Family Contribution claculation with each years tax returns. 

Financial Aid Disbursements

Financial aid is disbursed based on completion of clock hours. If an award letter has been signed by the student, the first disbursement will occur during the initial week of school. Each disbursement thereafter will occur with the completion of each 450 clock hour increment for the 2100 hour program. The 1550 hour program will have three full disbursements at the completion of each 450 hour increment and two partial disbursements thereafter. 

Any questions regarding financial aid should be directed to Angie or Kim at the Avalon School of Cosmetology Office.

*** All tuition and fees must be paid in full to receive your licensure documents.

*** Financial aid funds will not be disbursed for student living allowance until all monies owed to Avalon School of Cosmetology are paid in full or other paymennt arrangements have been made.

 

Avalon School of Cosmetology
1428 North McMillan Street
Worthington, MN 56187
507-372-2344
info@avaloncosmetologyschool.com
Online Application

Copyright 2018. Avalon School of Cosmetology.  All Rights Reserved.

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