Financial Aid
Find out if you’re eligible.
The New York School Of Esthetics is a Title IV federally accredited school which participates in the Federal Pell Grant and amp; Federal Direct Loan programs. Federal Financial Aid is available to students who both demonstrate financial need and satisfy all eligibility requirements for the receipt of Title IV funds as laid out by the Federal Department of Education.
Students Must Meet The Following General Eligibility Requirements For The Receipt Of Federal Financial Aid:
Have completed the Free Application for Student Federal Aid (FAFSA) for
the current financial aid award year
Have a High School Diploma, GED or other NYS Department of Education
recognized equivalent
Be a US Citizen or eligible non-Citizen
Maintain Satisfactory Academic Progress as determined by the NYS Department of Education throughout the student’s enrollment.
The Federal Pell Grant Program And Federal Direct Loan (DL)
The Federal Pell Grant is available to undergraduate students who have demonstrated financial need as determined by the Free Application for Federal Student Aid (FAFSA). The Pell Grant is federal funding that does not need to be paid back upon completion of the program and is the foundation of a student’s financial aid package.
Direct Loans are federal student loans with a fixed lifetime interest rate. Loans are borrowed money which will enter into repayment with a federal loan servicer 6 months after the completion of the program. The total amount of loan money an undergraduate student is eligible to receive in a program is affected by a student’s dependency status.
Independent students are over the age of 24, married or have dependents of their own that they support. Students that are under the age of 24, are considered to be dependent. For more information on how the Federal Department of Education defines a student’s dependency status, please click here.
In order to receive federal student loans a student must complete both Direct Loan Entrance Counseling & Master Promissory Note which will review a student’s obligation to repay any monies borrowed as well as the full terms/ conditions of the loan(s).
The student must not have an adverse loan history or be in default on any previously disbursed federal loans.
Not have reached the Total Aggregate Lifetime Loan Limit allowed for an undergraduate student.
Total aggregate loan limits are $31,000 for Dependent Students and $57,500 for Independent Students, no more than $23,000 of which can be in subsidized aid.
The New York School of Esthetics will review a student’s full federal financial aid history on the National Student Loan Data System (NSLDS) prior to the awarding of any federal aid.
New York School Of Esthetics Utilizes Standard Budgets That Represent A Cost Of Attendance Which Includes:
Tuition and Registration Fees
Books and Products
Clinic Fees
Student Uniform
A Student’s Federal Financial Need Is Determined By The Following Formula:
Cost of Attendance (COA)
– Student Aid Index (SAI)
– Other Financial Assistance (OFA)
= Remaining Financial Need
Need Based Financial Aid:
Pell Grant = Eligible amount(s) determined by SAI
Direct Subsidized Loan amount for both Independent and Dependent
Students = $2,333
Non-Need Based Financial Aid:
-Direct Unsubsidized Loan amount for Independent Students = $4,000
-Direct Unsubsidized Loan amount for Dependent Students = $1,333
-Direct PLUS Loan = Eligible amount is COA – all other financial aid received
Applicants of the PLUS loan are subject to a credit check