Mansfield Beauty Schools is approved by the United States Department of Education for Title IV Student Funding and the Massachusetts Office of Student Financial Assistance.
There are different types of Federal Financial Aid Programs. There are grant programs, which you do not have to repay and some are loan programs which you MUST repay. Please keep in mind, Federal Loans are considered Financial Aid and must be repaid.
We are also currently approved by the Department of Workforce Development and Massachusetts Rehabilitation Commission.
Mansfield Beauty Schools understands that the financial aid process may be complicated. We are here to assist you throughout the process. All prospective students may receive an estimated Financial Aid Package before enrolling. We encourage all prospective students to compare financial aid packages and ask all questions before enrolling.
Student Eligibility Requirements:
To be eligible for Title IV Federal Financial aid, a student must:
Be admitted as a regular student
Be enrolled or accepted for enrollment in an eligible program at least half time.
Be a U.S. citizen or an eligible non-citizen.
Not owe a refund on a Pell Grant or SEOG at any other school.
Not be in default with a Perkins, FFELP, SLS, or PLUS, Direct Loan subsidized, unsubsidized, or PLUS at any school.
Be achieving satisfactory progress, as defined by the school, in the course of study. (See Satisfactory Academic Progress Policy).
Be registered with Selective Service or certify that there is no requirement to do so.
Have a signed statement of educational purpose.
Federal Title IV Aid Programs:
A Federal Pell Grant, unlike a loan, does not have to be repaid. Pell Grants are considered a foundation of federal financial aid, to which aid from other federal and nonfederal sources might be added. These grants are generally awarded to undergraduate students and the award amounts can change yearly. The maximum award for the 2016-17 award year $5815. The amount of your Federal Pell Grant depends on your cost of attendance, expected family contribution, enrollment status (full or part-time) and whether you attend for a full academic year or less. Please note if you do not complete the program, you are only entitled to the amount of Title IV funding you have earned. (Please see refund policy and or ask for example.)
The Federal Supplemental Educational Opportunity Grant (FSEOG) program is for undergraduates with exceptional financial need. Pell Grant recipients with the lowest expected family contributions (EFCs) will be considered first for a FSEOG. Just like Pell Grants, the FSEOG does not have to be repaid. You can receive between $100 and $600, an academic year, depending on when you apply, your financial need, and the funding available. Please note if you do not complete the program, you are only entitled to the amount of Title IV funding you have earned. (Please see refund policy and or ask for example.)
Stafford Loans/ William D. Ford Direct Loan Program:
Student loans, unlike grants, are borrowed money that must be repaid with interest. Loans made through this program are referred to as Direct Loans. Eligible students and parents borrow directly from the U.S. Department of Education. There are three types of loans in the program:
Subsidized Stafford Loan:
A student can borrow this type of loan to cover some or all of their school expenses. The U.S. Department of Education pays the interest while you are in school at least half-time and for the first six months after you leave school (grace period). The amount of the loan cannot exceed a student’s financial need and the fixed interest rate. Direct Subsidized Loans for undergraduates with a first disbursement date between July 1, 2016 and June , 2016 , Direct Unsubsidized Loans for all students: 3.76 % Direct PLUS Loans: 6.31%. Please note if you do not complete the program, you are only entitled to the amount of Title IV funding you have earned. (Please see refund policy and or ask for example.) For additional information please refer to www.studentloans.gov.
Unsubsidized Stafford Loan:
A student can borrow this type of loan to cover some or all of their school expenses. The U.S. Department of Education does not pay interest on unsubsidized loans. A student is responsible for paying the interest that accrues on the loan from the time the loan is disbursed until it’s paid in full. The fixed interest rate of 3.76 percent can be paid while attending school, and/or during grace period. Please note the longer you are in school, the more interest will accrue on your unsubsidized loan. Your interest accrued while in school will also increase if you request and are granted a leave of absence.) If you do not complete the program, you are only entitled to the amount of Title IV funding you have earned. (Please see refund policy and or ask for example.) For additional information please refer to www.studentloans.gov.
Parents of dependent students can borrow from the PLUS Loan program. The terms and conditions of this type of loan include a requirement that the applicant not have an adverse credit history, a repayment period that begins on the date of the last disbursement of the loan and a fixed interest rate of 6.31 percent for the Direct Loans. Please note if you do not complete the program, you are only entitled to the amount of Title IV funding you have earned. Please see refund policy and or ask for
example. For additional information please refer to www.studentloans.gov.
Please Note Mansfield Beauty Schools strongly urges students to only borrow what they need for direct educational expenses. Students are advised to take advantage of Mansfield Beauty Schools’ interest free in school tuition payment plans and only borrow what is necessary. For students who would like to borrow funds for indirect costs please request additional debt counseling information.
Mansfield Beauty Schools’ Tuition Assistance
Mansfield Beauty Schools’ Interest Free In School Tuition Payment Plan for Cosmetology and Manicure
Mansfield Beauty Schools offers an In School Tuition Payment Plan at no interest or finance charges. We encourage all students to look into this method in order to reduce the costs of attending school. This option may be used with eligible financial aid programs. According to the United States Department of Education website; http://www.mymoney.gov/borrow/Pages/borrow.aspx;” Borrowing money is a way to purchase something now and pay for it over time. But, you usually pay “interest” when you borrow money. The longer you take to pay back the money you borrowed, the more you will pay in interest.” Mansfield Beauty Schools offers full and part-time programs. This may allow a student to choose an enrollment schedule in order to coordinate with a tuition payment plan.
Mansfield Beauty Schools Cosmetology Merit Scholarship
This is a Merit in-kind scholarship for students who have achieved a 90% or higher attendance ratio. Students must apply within 30 days of the initial inquiry and receive an award letter for the Mansfield Beauty Schools Merit Scholarship, prior to starting the Mansfield Beauty Schools’ Cosmetology Program. The student must complete the full Cosmetology program with a cumulative attendance percentage of at least 90% to be awarded a $500. in-kind merit scholarship. Student must complete the application and the application must be selected prior to enrollment. Approved Scholarships will be factored into the Student’s estimated financial Aid Award Package. Students who do not have the ability to achieve 90% attendance due to their attendance at 800 actual hours will be required to make alternative arrangements for the amount awarded. Students who withdraw or are dropped from the program and/or school will not be eligible for this scholarship regardless of their attendance percentage. Merit Scholarship Cosmetology.
Non-Tile IV Aid
This a grant assistance program funded by appropriations from the Massachusetts Legislature. The MASSGrant program provides need-based financial assistance to undergraduate students who reside in Massachusetts and who are enrolled in and pursuing a program of higher education in any approved public or independent college, university, school of nursing or any other approved Institution furnishing a program of higher education. (May 1st priority deadline).
Part-time Grant Program
The Commonwealth has recognized the needs of a part time student. The part time grant program was established to serve as a bridge between higher education opportunities and Mass Grant: Student must be attending less than 24 hours per week and meet the program guide lines. Determination based on availability of funds, financial need and Satisfactory Academic Progress. (Funds are limited and adjusted annually)
Filing for Federal Financial Aid
Prospective Students may file for financial aid at Mansfield Beauty Schools using the following applications and or methods of application. The following forms are subject to change. Enrolled Students who cross over an award period (July1-June 30) must complete also complete:
Free Application for Federal Student Aid (FAFSA):
Mansfield Beauty Schools Application for financial aid, and all necessary documents to verify the income and other information reported by the student.
Mansfield Beauty Schools’ Request for Loan Application
You will also need to apply for a Federal Student Aid PIN.
This Web site is your source of information for the Federal Student Aid PIN. Your PIN can be used to electronically apply for federal student aid and to access your Federal Student Aid records online. If you receive a PIN, you agree NOT to share it with anyone.
Your PIN serves as your electronic signature and provides access to your personal records, so you should never give your PIN to anyone, including, your school and or commercial services that offer to help you complete your FAFSA. Be sure to keep your PIN in a safe place.
A Federal Student Aid PIN can be used for many federal student aid activities, such as to:
Electronically sign a Free Application for Federal Student Aid (FAFSA)
Renew your FAFSA (if you applied last year)
Make corrections to a processed FAFSA
View and Print your electronic Student Aid Report (SAR)
Access the Student National Student Loan Data System (NSLDS) to view your financial aid information, if you have previously received student financial aid.
Complete Entrance Counseling at www.studentloans.gov
Complete PLUS Request Process at www.studentloans.gov
Electronically sign a Master Promissory Note at www.studentloans.gov
Complete Exit Counseling at www.studentloans .gov
Based on the information provided by the student on the application, the student’s need for Title IV Assistance and any other financial aid will be calculated. Upon completion of all the financial aid applications and submission of all supporting documents requested an estimate of financial aid will be determined. The applicant will then determine, based on their eligibility, which financial aid programs they will apply for and complete all necessary applications and forms associated with the individual financial aid programs.