FINANCIAL AID / CONSUMER INFO

Introduction

Welcome and thank you for choosing to further your education at VskiCosmetology School. The financial aid page will guide you on completing the required steps and information for completing your financial aid application to see if you qualify for federal student aid. We hope this helps you navigate through the financial aid process and please feel free to contact us with any questions or concerns you may have. Our financial aid staff available to assist you with all your financial aid needs during normal business hours Tuesday through Saturday from 10am to 6pm.

Statement of Non-Discrimination:

VskiCosmetology School prohibits any and all forms of discrimination. VskiCosmetology School, in its admission, instruction, and graduation policies and practices, does not discriminate on the basis of area of residence, financial status, race, color, sex, ethnic origin, religion, age, disability, sexual orientation, or ancestry. It will be a violation of policy for any student, teacher, administrator or other personnel to discriminate against another individual with regards to race, color, sex, ethnic origin, religion, age or disability. It shall also be a violation of policy for any student, teacher or administrator to tolerate sexual harassment, in any form that occurs to anyone during training hours of operation or off campus event. If any student, teacher, administrator or other personnel experiences or witnesses anyone in violation in any way, he or she is required to report the matter to the school’s director, Jennifer Graffeo, immediately, by calling 843-813-2300, or by mail at 2070 Sam Rittenberg Blvd., Suite 322 Charleston, SC 29407, so appropriate action can be taken. VskiCosmetology School is committed to the policy of providing educational opportunities to all qualified students regardless of their economic or social status.

VskiCosmetology School accepts applications from a diverse population. Diversity enhances and enriches the educational experience of the students.
VskiCosmetology School provides equal opportunity in education and employment in accordance with Titles VI and VII of the Civil Rights Act of 1964, Title IX of the Education Amendments of 1972, and Section 504 of the Rehabilitation Act of 1974, and the Age discrimination Act of 1978.

Eligibility Requirements

Your financial need determines your eligibility for financial aid. Generally, to qualify for federal, state, and/or institutional assistance, you must:

Have a high school diploma or General Education Development (GED) certificate / equivalent
Have a valid Social Security Number
Demonstrate financial need based on the results of the FAFSA
Confirm eligibility if you have been convicted of possessing or selling illegal drugs by submitting Student Aid Eligibility Worksheet in your FAFSA application
Be enrolled in and attending classes. Most financial aid programs require at least half-time enrollment
Be attending a financial aid eligible certificate program
Register with the Selective Service System if required
Maintain Satisfactory Academic Progress in your course of study
Document any Unusual Enrollment History
Not be in default on any state or federal grant or loan received at any institution
Be a citizen or permanent resident of the United States or trust territories
Certify that you will use federal student aid only for educational purposes

Types of Financial Assistance

The amounts and types of financial aid you receive are determined through federal, state and institutional guidelines. Most federal financial aid is based on financial need. For additional information on Financial Aid Programs go to https://studentaid.ed.gov.

Grants

Are awarded through federal, state and institutional sources and are based on financial need. Grants are regarded as “gift” aid and do not need to be repaid. The Financial Aid Office will verify your eligibility based on the information you provide on your Free Application for Federal Student Aid (FAFSA), the first step in applying for any financial aid.

MORE INFORMATION ON GRANTS

Scholarships

Are provided through various organizations and corporations, private donors, and sometimes the school itself. Scholarships are regarded as “gift” aid and do not need to be repaid.

MORE INFORMATION ON SCHOLARSHIPS

Loans

Are offered at low interest rates and can be repaid over an extended period of time. The Financial Aid Office will verify your eligibility based on the information you provide on your Free Application for Federal Student Aid (FAFSA), the first step in applying for any financial aid.

MORE INFORMATION ON LOANS

How to Apply for Financial Aid

Step 1: Create a FSA ID

Go to fsaid.ed.gov and create your FSA ID.

Your FSA ID is how you and your parents will electronically sign your FAFSA application and other documents throughout the financial aid process. If you are under the age of 24, not married, and do not have children that live in the household that you support, your parents will also need to create an FSA ID in order for you to complete your FAFSA application.

Please review the following video for instructions on creating an FSA ID.

Need help creating an FSA ID?

Step 2: Complete a FAFSA Application

Every student looking to qualify for Federal Pell Grants and Federal Direct Stafford Loans must complete a FAFSA application. To determine which FAFSA applications you will need to submit please review the table under the “Changes to the Financial Aid Process” section of this webpage below. Once you determine which FAFSA applications you need to complete go to www.fafsa.ed.gov and log in with your newly created FSA ID.

How to Determine Which FAFSA to Complete

Below is a helpful chart to help you determine which FAFSA applications you will need to complete during your enrollment at VskiCosmetology School.

If You Plan to Attend Between You Will Submit This FAFSA Using Income and Tax Information From

July 1st, 2019 to June 30th, 2020 2019-20 2017

July 1st, 2020 to June 30th, 2021 2020-21 2018

July 1st, 2021 to June 30th, 2022 2021-22 2019

Items Needed to complete FAFSA Application

VskiCosmetology School – School Code: 042815
Your personal information:
1. Full legal name
2. Driver’s license or Government Identification card
3. Social Security Number
4. Tax information from the appropriate tax year (from table above)
Your parent’s personal information: (ONLY if the student is under the age of 24, not married, and does not have children that live in the household and the student supports them)
1. Full legal names
2. Social Security Numbers
3. Tax information from the appropriate tax year (from table above)

Below are instructional videos on how to complete your FAFSA application:

2018-19 Sample FAFSA Walkthrough

https://youtu.be/RRXJYBRawfs

Step 3: Schedule Follow-up Appointment

Once you have successfully submitted your FAFSA application(s) call the Financial Aid Office to schedule a follow-up appointment. This can be done by calling 843-203-0000 Option #2 for the school or by email at info@vskicosmetology.com.

The follow-up appointment will consist of reviewing your FAFSA application(s) and determining if there are further steps to be completed before the Financial Aid Office can determine your eligibility and financial aid award amounts.

Also, during this meeting the Financial Aid Office will determine if your FAFSA has been selected for Verification, if you have an extenuating circumstance that qualifies the Financial Aid Office to conduct a Professional Judgement, or determine if you are eligible for a Dependency Override based on your unique situation.

VERIFICATION INFORMATION

PROFESSIONAL JUDGEMENT INFORMATION

DEPENDENCY OVERRIDE INFORMATION

Step 4: Complete Entrance Counseling

Entrance counseling only needs to be completed by students interested in taking a Federal Direct Student Loan and can only be completed once your FSA ID has been validated by USDOE and the Social Security Administration (Approximately 3 days after creation of your FSA ID).

If you have not previously received a Direct Loan or Federal Family Education Loan (FFEL), the Federal Government requires you to complete entrance counseling at Studentloans.gov to ensure that you understand the responsibilities and obligations you are assuming. For information on completing loan counseling click the following button:

ENTRANCE COUNSELING INSTRUCTIONS

Step 5: Complete Master Promissory Note

A Master Promissory Note only needs to be completed by students interested in taking a Federal Direct Student Loan and can only be completed once your FSA ID has been validated by USDOE and the Social Security Administration (Approximately 3 days after creation of your FSA ID).

The Master Promissory Note (MPN) is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the U.S. Department of Education. It also explains the terms and conditions of your loan(s). Unless your school does not allow more than one loan to be made under the same MPN, you can borrow additional Direct Loans on a single MPN for up to 10 years.

VskiCosmetology School will tell you what loans, if any, you are eligible to receive.

For information on completing the Master Promissory Note click the following button:

MASTER PROMISSORY NOTE INSTRUCTIONS

Step 6: Complete Parent PLUS Loan Documents (Optional)

Parent PLUS (Parent Loan for Undergraduate Students) Loans are available that enable birth, adoptive, or step-parents of dependent undergraduate students to borrow. There is a federal origination fee of 4% deducted proportionately from each loan disbursement.

Eligibility

To be considered for a Federal Direct PLUS Loan:

The Federal PLUS Loan is not based on financial need; however VskiCosmetology School requires completion of the FAFSA which can be completed online at fafsa.ed.gov.
The parent must obtain a FSA ID at fsaid.ed.gov
Students and parents must be a U.S. Citizen or eligible non-citizen
Students and parents must not be in default on a federal education loan or owe an overpayment on an educational grant
Student must be enrolled at least half-time
Student must attend classes and maintain Satisfactory Academic Progress
Applicant cannot have an adverse credit history. A credit check is required for approval.

Application Process

1. Complete the Federal Direct Parent PLUS Loan Form.
  
  DOWNLOAD FORM
2. Provide a photocopy of your Driver’s License/Identification card and Social Security Card to Financial Aid Office.
3. Complete the PLUS Loan Refund Authorization Worksheet that is attached to the Federal Direct PLUS Loan Form.
4. Complete the Online Direct Loan Master Promissory Note (MPN). Go to Federal Student Aid to complete this. This will only need to be completed by the parent ONCE PER STUDENT while your student(s) attends VskiCosmetology School. Once all steps are completed, make sure to print out a copy of your Master Promissory Note for your records. An electronic confirmation will be transmitted to the financial aid office within 24 hours.
5. If your student withdraws from school, the Cost of Attendance and financial aid award amounts will be adjusted. This could result in a reduction or removal of loans or other financial aid.

The Financial Aid Office will notify the student of the award via email or an in-person meeting. Your student can view and accept the award on the first day of classes. By default, VskiCosmetology School only covers up to the cost of tuition for PLUS Loans unless an increase for living expenses is specifically requested by the Borrower of the PLUS Loan. Awards are determined on an ongoing basis and completed after your student’s financial aid file is complete and reviewed for eligibility. To be complete, your student must respond to all requests for information.

Repayment and Consolidation

REPAYMENT: WHAT TO EXPECT

https://studentloans.gov/myDirectLoan/index.action

REPAYMENT ESTIMATOR AND REPAYMENT FORMS

https://studentloans.gov/myDirectLoan/repaymentEstimator.action

ESTIMATED MONTHLY PAYMENT AMOUNT

http://www.finaid.org/calculators/loanpayments.phtml

Net Price Calculator

https://nces.ed.gov/ipeds/netpricecalculator/#/