Federal Financial Aid Programs
(If you qualify)
Cameo Beauty Academy participates in the following programs of Federal Financial Aid for its students:
- Federal Pell Grants
- Federal Direct Loan Program
- Federal Direct Stafford Loans (Subsidized and Unsubsidized)
- Federal Direct PLUS Loans
Federal Pell Grants
The Federal Pell Grant is an award of money to help first time undergraduate students pay for their education. This type of aid DOES NOT HAVE TO BE PAID BACK. Awards for the 2012-13 fiscal years are given based on need, to a Maximum of $5,550.00 for a full Academic Year.
Federal Stafford Loans (subsidized and unsubsidized)
Federal Stafford Loans are low-interest loans for qualifying students. Loans are made by a lender such as the Federal Government; maximum amount of Federal Subsidized Stafford Loan per full academic year is $3,500.00
The maximum amount of Federal Unsubsidized Stafford Loan (for independent students only) is $6000.00 per full academic year.
The Federal Direct Stafford Loans have the Federal Government as the lender.
Federal Plus Loans
The Federal Parent Loan for Undergraduate Study (PLUS) is for parents who want to borrow to help pay for their children’s education. This loan provides additional funds for educational expenses.
The Maximum Amount of PLUS per academic year is found using the formula: Total need in dollars minus other financial aid received.
The Federal Direct PLUS Loan has the Federal Government as the lender. Interest rates and repayment schedules are available upon request. This information may also be found in the Student Guide to Federal Financial Aid Programs. This pamphlet is published by the United States Department of Education. The aforementioned booklet as well as all of the applications necessary to apply for Federal Student Financial Aid, are available, free of charge, through the Cameo Beauty Academy Financial Aid Office.
THESE ARE LOANS. THEY MUST BE REPAID.
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