FINANCIAL AID
Financial aid is available to those who qualify.
You may fill out your FAFSA at https://fafsa.ed.gov
For more information on financial aid, please visit https://studentaid.ed.gov
Please note that our Barber (Virginia), Nail Technology (Virginia), Basic Esthetics (Virginia), Master Esthetics, and Instructor programs are not eligible for Federal Financial Aid.
FEDERAL SCHOOL CODE: 042694
AVAILABLE FINANCIAL AID PROGRAMS
FEDERAL PELL GRANT (Need Based Aid)
Pell grants provide money to help students further their education and skills after high school. For many students, pell grants provide a foundation of financial aid, to which aid from other federal sources may be added. Unlike loans, pell grants do not have to be repaid. Pell grants are based primarily on the ability or lack of ability of the family to pay for higher education. Pell grants are only available to undergraduate students (those who have not earned a bachelor’s or graduate degree). To apply for financial aid, you must submit your FAFSA. This can be done at https://fafsa.ed.gov. The application is free. Please do not apply at any sites that require a payment to process your FAFSA. If you have questions, please call the Financial Aid Director at (423) 341-8458, and we will be happy to assist you. Please be sure to leave a voicemail if there is no answer so that we can ensure your call is returned.
FEDERAL DIRECT LOANS (Need & Non-Need Based Aid)
Loans made through this program are referred to as Direct Loans, because eligible students and parents borrow directly from the U.S. Department of Education. You must be enrolled as at least a half-time student to be eligible for a loan. This type of aid must be repaid, with interest. Loan repayment begins six months after the date of graduation or withdrawal. Loans are a legal obligation. We highly recommend the student and/or parent(s) visit https://studentaid.ed.gov to review the Department of Education’s information regarding loan basics, interest rates, managing debt, and other relevant information.
Direct Loans include the following:
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Direct Subsidized Loans – you must have financial need to receive a subsidized loan. The U.S. Department of Education will pay (subsidize) the interest that accrues on your Direct Subsidized Loan during certain periods.
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Direct Unsubsidized Loans – financial need is not a requirement to obtain an unsubsidized loan. You are responsible for paying the interest that accrues on your Direct Unsubsidized Loan.
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Direct PLUS Loans – loans parents can obtain to help pay the cost of education for their dependent undergraduate children.
VETERANS - G.I. BILL®
We are honored to help the courageous men and women who serve our country (and their families) follow their dreams in the salon and spa industry. The U.S. Department of Veterans Affairs offers several education and training benefits. This institution is approved to offer GI Bill ® educational benefits by the Virginia State Approving Agency. If you are a veteran or family member of a veteran, you may qualify for one of these financial aid options. Please contact your VA office and our Financial Aid Director to apply for these benefits. You can also visit https://www.benefits.va.gov/gibill for more information. Please note that Veterans Benefits are only available for certain programs. Please email our Certifying Official, Matthew Bennett, at mrb2crownca@gmail.com for more information.
HOW DO I APPLY FOR TITLE IV AID?
In order to have funds available by the time school begins, students are encouraged to begin the application process two months prior to the class start date.
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Complete the FAFSA. Students must complete the FAFSA for each financial aid year in which the student is eligible to receive aid. The Department of Education (DOE) prefers students complete a web FAFSA at www.fafsa.ed.gov. To complete a web FAFSA, the student will need an electronic pin number. This can be obtained at www.pin.ed.gov. This pin is unique to each FAFSA applicant and cannot be shared with anyone else as it acts as the student’s signature required to submit a FAFSA. A parent of a dependent student must also apply for a pin. The parent is required to sign the web FAFSA with their uniquely created pin.
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When completing the FAFSA, make sure to include Crown Cutz Academy’s school code, 042694. This will allow disclosure of information from the FAFSA to the school.
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If the student is a dependent student, both the student and a parent will need to complete and sign the FAFSA application in order to be eligible for a Pell Grant. Dependency status is determined by the information filled out on the FAFSA. If the parents of a dependent student refuse to provide information on the FAFSA, the student will not be eligible for Pell Grants and will only be eligible for unsubsidized direct loans.
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Once the FAFSA is complete, the student will receive a Student Aid Report (SAR). If the student lists Crown Cutz Academy Bristol’s school code on the FAFSA (as instructed above), the school will be sent an Institutional Student Information Report (ISIR).
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All verifications and/or corrections must be completed prior to qualifying for aid. If a student’s FAFSA is selected for verification, the student will receive notification from the school along with our verification worksheet. The student is required to return the verification worksheet completed and provide any other requested documents. If parent information is entered in the FAFSA or the student is a dependent, parents may need to provide additional requested documents. If selected, the verification process must be completed before a student can receive federal aid. The verification process may result in a corrected ISIR and new Expected Family Contribution (EFC), which could affect the student’s unmet need and eligible need based aid.
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Need will be calculated based on the student’s primary EFC generated on the student’s ISIR and the Cost of Attendance. The Cost of Attendance budget includes tuition, applicable fees, kit and textbooks, room and board, personal expenses, and transportation costs.
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Students wishing to participate in the Direct Loan program must complete Entrance Counseling and a Master Promissory Note or Electronic Master Promissory Note at www.studentloans.gov.
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Parents desiring to participate in the PLUS Loan program on behalf of their dependent daughter/son must complete the Federal Direct PLUS Request for Supplemental Information via www.studentloans.gov. A credit check will be performed during the loan request process.
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Students must complete Entrance Loan Counseling prior to the student receiving a disbursement of any Federal loans.
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Student will need to accept or decline eligible aid by completing the Student’s Financial Aid Award Notice with the Financial Aid Office.
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Accepted aid will be listed on the student’s award letter.
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Please note that students are required to notify Crown Cutz Academy Bristol’s Financial Aid Administrator if they receive any additional financial assistance before or after an award letter has been issued. Scholarships or other types of financial aid could be reported throughout the year. If additional awarded aid causes the student to exceed the cost of attendance, it may be necessary to reduce the amount of previously awarded aid.