November 12, 2015
Have you ever considered going to trade school or college, but didn’t know where to start?
There is good news and bad news, the good news is- you’re not the only one! The bad news, is also that you’re not the only one who is struggling to navigate the world of higher education.
Many students report lack of financial support as a top reason for not pursuing education.
Whether you’re considering or have considered education right after high school, or have been in the workforce for a while and are ready to secure a more sustainable career path; understanding financial and scholarship options is vital to your success.
The key to securing scholarships and other funding for school is to make sure that you meet all of the deadlines, beginning with the FAFSA deadline.
FAFSA stands for “Free Application for Federal Student Aid”, which is how your Financial Aid Eligibility will be determined.
Filing this application is the first step to completing any kind of application for educational expenses, and it must be completed before the school year begins.
The Federal deadline for filing your FAFSA is June 30, 2017.
Be sure to carefully look at those deadlines so that you don’t miss an opportunity for funding, or delay your start date. Take a look at our Financial Aid page to learn more.
The Lingo and Things To Keep In Mind
For many students, trying to sort through information is exhausting because you end up spending more time trying to understand the jargon than actually completing the application.
Here are a few terms that you will definitely need to get familiar with (well it would at least help).
While it’s true that Cosmetology school is structured very different than a four-year university, the application processes and the financial aid standards are relatively similar.
Dependent/ Independent Status:
Though your financial aid eligibility is determined by many factors, deciphering whose tax information to use during the application can be really confusing. Check out these other terms from the U.S Department of Education.
Dependent Students are generally under the age of 24, do not have any dependents who they are financially responsible for, and are not enrolled or enrolling in a graduate program, and are not active members of the military. Independent students are generally 24 years or older, active members or veterans of the military and have at least one dependent other than a spouse that they are financially responsible for.
Estimated Family Contribution– Also referred to as the “EFC”, is the amount that FAFSA estimates your household will be able to pay.
Student Aid Report – You complete the application and the “SAR” is what you get in return, it details all of the funding that you are eligible to receive as well as what your EFC is.
The process begins with FAFSA, and making sure that you file the application on time. The earlier that you file, the earlier you will know how much funding you can expect for the upcoming school year. Make a plan to file your taxes as soon as they’re available so that you don’t run the risk of missing an application deadline.
Montana Academy of Salons is dedicated to student success, and it begins with access to our education. Speak with an admissions counselor about your next step in applying to cosmetology school and find the best program for you!