There are a number of convenient ways to fund your education. Barber Institute of Texas is accredited by the National Accrediting Commission of Career Arts & Sciences (NACCAS), and approved by the U.S. Department of Education to provide the following financial assistance programs to students who qualify; Federal Pell Grant Program and Federal Direct Loan Programs.
Our Financial Aid Counselor is happy to assist you through the application process. However, if you choose to begin the process on your own, below are the links to some helpful websites that will get you started.
Please contact us for additional information regarding accreditation, financial assistance, tuition costs and payment options. Additionally, you can use our Net Price Calculator to learn more about the financial assistance opportunities that may be available to you.
Barber Institute of Texas does not discriminate on the basis of age, sex, race, ethnic origin, color, or religion.
STUDENT LOAN INFORMATION
The National Student Loan Data System (NSLDS) is the U.S. Department of Education's (ED's) central database for student aid. NSLDS receives data from schools, guaranty agencies, the Direct Loan program, and other Department of ED programs. NSLDS Student Access provides a centralized, integrated view of Title IV loans and grants so that recipients of Title IV Aid can access and inquire about their Title IV loans and/or grant data. Review your financial aid information online at https://www.nslds.ed.gov/nslds_SA/.
VETERAN BENEFITS / OTHER FUNDING SOURCES
Selected programs of study at Barber Institute of Texas are approved by the Texas Veterans Commission for enrollment of those eligible to receive benefits under Section 3676, Chapters 30 or 33, Title 38.
Additional funding may be obtained for eligible candidates through many different programs including; Texas Workforce Commission, Department of Assistive and Rehabilitative Services (DARS), and Private Scholarship funds.
TYPES OF FINANCIAL AID AVAILABLE
FEDERAL PELL GRANTS are monies given to eligible students to help pay for school related expenses and awarded based on financial need.
Scheduled Award Amount
Each year the U.S. Department of Education publishes a Pell table used to determine Pell Grant awards.
The amount you receive will depend on:
A loan is a legal obligation that you will be responsible for repaying with interest. If you plan to take out a student loan, we encourage you to be a responsible borrower by following these tips:
Federal Direct Student Loans
The Department of Education (ED) is your lender for all Federal Direct Student Loans. These are low-interest loans that must be repaid at a future date, usually beginning six months after you graduate, leave school, or are no longer enrolled as a half-time student. For more information regarding repayment, please visit.
https://studentaid.gov/. ED charges an origination fee of the total amount borrowed per loan. This means the money you receive will be less than the amount you borrow. You're responsible for repaying the entire amount you borrowed plus any interest accrued, and not just the amount you received. The interest rate varies depending on the loan type and for most federal student loans, the first disbursement date.
Current interest rates are available for viewing at https://studentaid.gov/understand-aid/types/loans/interest-rates. Listed below are the different types of Direct Loans you may receive while attending Barber Institute of Texas:
Before borrowing a federal student loan, you must complete entrance counseling to ensure you understand the responsibilities and obligations you are assuming. You may complete this counseling at https://studentaid.gov/.
In addition to entrance counseling, you are also required to sign a Master Promissory Note (MPN). This 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). You must complete the entrance counseling and sign the MPN before you receive a loan payment.
If you receive a federal student loan payment, you will be required to complete exit counseling once you graduate or stop attending. Exit Counseling provides vital information to prepare you to repay your federal student loan(s).
DIRECT STUDENT LOANS are borrowed monies through the U.S Department of Education that must be repaid (with interest)
DIRECT SUBSIDIZED LOANS are awarded to student who show financial need and don’t accrue interest while the student is in school. You have a six-month grace period after you graduate, withdraw or drop below half-time.
DIRECT UNSUBSIDIZED LOANS are available to all student, regardless of financial need. Interest does accrue on this loan while the student is in school. The student has a six-month grace period of repayment after graduation, withdrawal or dropping below half-time.
SCHOLARSHIPS are provided by some companies, professional associations, and religious groups to individuals or their family members seeking assistance paying for their education. Searching the internet is a great way to see what might be available to you.
HOW TO APPLY FOR AID
Complete and submit the Free Application for Federal Student Aid (FAFSA) by applying online at https://studentaid.gov/. You will have to complete the FAFSA every academic year using your tax information for the tax year requested on the application. You will complete a new FAFSA the first year and a renewal FAFSA in subsequent years.
You and one of your parents should create a FSA User ID, which consist of a username and password. The FSA User ID is used to authenticate the identity of students, parents, and borrowers, to access their federal student aid information.
Make sure that Barber Institute of Texas receives the information by selecting Barber Institute of Texas when you complete the FAFSA. Our school code is 042290. Upon their receipt of your information, you will receive an acknowledgement from the U.S. Department of Education.
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