Basic eligibility requirements for federal student aid include citizenship requirements and requirements relating to the student’s ability to benefit from a postsecondary education. The student must:
To qualify for federal student aid, students must:
There are requirements relating to previously-received federal student aid funds. The student must:
There are several additional requirements for specific federal student aid programs.
To retain eligibility for federal student aid, the student must:
Latin Beauty Academy is able to cooperate with the verification process, which is determined by the Central Processing System (CPS). In this process, any of the students enrolled could be selected for verification for reasons such as the application information is incorrect or contains conflicting information. Applications may be reviewed based on the DE’s current required data elements and any specific predetermined criteria set by the institution. Latin Beauty Academy chooses to verify all data elements in all verification cases. Substantial supporting documentation must be obtained and circumstances carefully documented.
Department of Education selects students to be verified based on information submitted or under their discretion. Students who have submitted a FAFSA are selected for an official review in a process called Federal Verification. For example:
However, under the advance payment method, FSA allows that actual disbursement information can be submitted no earlier than 7 calendar days prior to the disbursement date. Latin Beauty Academy provides each enrolled FSA eligible student with an award letter, which provides details on the total funds expected to be received from each FSA program. Latin Beauty Academy credits students’ accounts for allowable charges, to include tuition cost and fees. Additionally, through Passive Confirmation notification, Latin Beauty Academy notifies (via U.S. Mail) all loan recipients (or their parents) prior to crediting their account. Loan disbursement notification must include:
If FSA funds credited to a student’s account exceeds the student’s allowable charges, the credit balance must be paid directly to student or parent as soon as possible, but no later than 14 days after:
The law requires that any excess PLUS loan funds be returned to the parent; however, the parent can direct the funds to be transferred to the student’s account by providing the school with written authorization. Before disbursing FSA funds, the school must determine and document that a student remains eligible to receive funds and the following must be confirmed:
Latin Beauty Academy is able to cooperate with the verification process, which is determined by the Central Processing System (CPS). In this process, any of the students enrolled could be selected for verification for reasons such as the application information is incorrect or contains conflicting information. Applications may be reviewed based on the DE’s current required data elements and any specific predetermined criteria set by the institution. Latin Beauty Academy chooses to verify all data elements in all verification cases. Substantial supporting documentation must be obtained and circumstances carefully documented.
Department of Education selects students to be verified based on information submitted or under their discretion. Students who have submitted a FAFSA are selected for an official review in a process called Federal Verification. For example:
Our Financial Aid Office must compare FAFSA data with Verification information received from students (and parents). We must complete Verification before we can process Federal Direct Loans, any federal grants, Federal Work-Study, or private alternative loans. That means no federal aid or private loans will be applied toward the student’s eBill until Verification is finalized.
If the student FAFSA is selected for Federal Verification, the Financial Aid Office meets with the students and/or parents to inform what he/she (and parents) need to do the verification. The institution also sends a letter via mail with a list of the document requested. The Verification process is becoming more and more ‘customized,’ so not all students and parents are required to provide the same information.
Using the IRS Data Retrieval Tool (DRT) on every FAFSA makes the Verification process. The DRT allows taxpayers (student or parent) to transfer key financial data from their IRS Tax Return directly to a FAFSA. Students and parents who use the DRT and did not change any of the transferred items will, with very few exceptions, not have to provide us with any financial documents for Verification. Taxpayers who were unable to (or chose not to) use the DRT will, in most cases, need to provide us with signed copies of IRS Tax Return Transcripts ordered directly from the IRS. The student/parents can request a Tax Return Transcript online, by phone, or by mail. Wage earners who don’t need to submit tax returns will need to provide us with copies of all of their W-2 Forms for the calendar year stated on their Verification Form.
Once we have everything we need from the student (and parents) we compare your FAFSA data with Verification information received and, if needed, we will adjust your FAFSA information. In some cases, we may require additional information. From late winter into the summer, we receive a large number of Verifications and we cannot process them as quickly as we would like to. If your FAFSA is chosen for Verification, we appreciate your patience. Promptly providing us with all of the information we request and, if eligible, using the DRT, will allow us to complete your Verification more quickly. Note that you can check on your Verification status using the 'View Financial Aid Information' section of SIS.
Latin Beauty Academy provides to prospective students a number of applications which must be completed and submitted as they go through the process of applying for various types of financial aid. Some deadlines may be applied as the possibility of Federal Verification, which make some processes go more smoothly.
Latin Beauty Academy Admission Application and Enrollment Agreement - are part of the Application for Admission. A copy of the enrollment agreement is recorded in the student financial file.
Free Application for Federal Student Aid (FAFSA) - The prospective student is responsible to complete and submit this online via the U.S. Department of Education's FAFSA site. He/she use Latin Beauty Academy’s Federal School Code: 042420. In order to submit, both student and parent (of a dependent student); they need to create an electronic account with a username and password, which will be approved to process any type of federal loans. The FAFSA is the initial application used by students across the country for grants, student’s loans, work-study, and other forms of aid.
Scholarship Applications – Submit our scholarship application and approved documents through via mail. All documents are analyzed by the Latin Beauty Academy Scholarship’s Committee to select the people who met the requirements.
FAFSA - The student must submit FAFSA as soon after January 1 as possible, but no later than Latin Beauty Academy's priority FAFSA submission date of June 30. Our administration recommends that parents and students complete their federal income tax returns before completing the FAFSA.
Loan Applications – To learn about loans, we recommend make an appointment with the Financial Aid Department and discuss any question for each specific type of educational loan.
Scholarship Applications – Pay very close attention to application deadlines and criteria, as they vary from program to program, and are determined by the administration. The interested person may call to the school for detailed information.
NOTE: The person does not have to be accepted by Latin Beauty Academy in order to apply for government financial aid. Apply by these deadline dates even if you have not been accepted, or have not decided which school the person will attend.
To retain eligibility for federal student aid, the student must:
It is mandatory that Latin Beauty Academy provides students with details of all refund policies applicable to the school, as well as information on the Title IV Program requirements for the treatment of Title IV funds when a student withdraws.
Latin Beauty Academy recognizes that the Federal Student Aid (Title IV) funds are processed when a recipient of those funds ceases to be enrolled prior to the end of a payment period or period of enrollment. These requirements do not apply to a student who does not actually cease attendance at the school. The Return of Title IV Funds (Return) regulations do not dictate an institutional refund policy. Instead, a school is required to determine the earned and unearned Title IV aid a student has earned as of the date the student ceased attendance based on the amount of time the student spent in attendance, or, in the case of a clock-hour program, was scheduled to be in attendance. The calculation of Title IV funds earned by the student has no relationship to the student’s incurred institutional charges.
1. When a student who receives financial aid withdraws before the end of the payment period of enrollment and ceases to continue enrollment in the program, a calculation may be required to determine if the student retains in full, or returns all or a portion of, Title IV funds received. 2. The Return of Title IV funds (Return) regulations do not dictate Latin Beauty Academy return policy. 3. Latin Beauty Academy is required to determine earned and unearned portions of Title IV aid as of the date a student ceased attendance. 4. The Financial Aid Department makes the calculation of Title IV funds earned by a student has no bearing on a student’s incurred tuition charges.
Important: However, withdrawal after the 50% point in the payment period of enrollment, a student has earned 100% of financial aid funds received during the period. A determination must still be made as to whether a student is eligible for a post-withdrawal disbursement. Return to Title IV aid calculations can be done by utilizing the Department of Education’s web product at faaaccess.ed.gov
Latin Beauty Academy receives federal funds to help most students meet the cost for their post- secondary education. To be considered to receive financial aid, the student must complete the Free Application for Federal Student Aid (FAFSA) each year that he/she is enrolled as a student. The information provided on the FAFSA will determine how much the prospect student is eligible to receive in grants and loans.
Latin Beauty Academy has a scholarship program to address the financial concerns of many students for the Barber/Stylist and Full Specialist Program.
We honor students’ confidentiality. Students must provide their full name and Latin Beauty Academy Student ID Number when asking questions about their specific financial aid information. Parents whose information is on their dependent student’s FAFSA are welcome to ask questions about their son or daughter’s aid, as long as they provide their student’s full name and Student ID Number. In some cases, we may ask for additional identifying information, such as addresses, etc. We will not disclose confidential information to spouses, siblings, other relatives, etc., unless a Release of Information Form is completed by a student while in our office.
https://ifap.ed.gov/ifap/toolsforschools.jsp
https://studentloans.gov/myDirectLoan/index.action
https://fafsa.ed.gov/FAFSA/app/schoolSearch
