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  3. Student Loans (Subsidized & Unsubsidized)

Financial Aid

  • Free Application for Federal Student Aid Overview
  • Federal Grants Program
  • Student Loans (Subsidized & Unsubsidized)
  • Parents Plus Loans
  • Artistic Academy Post Secondary Scholarship
  • Veterans and Military Service Members
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Student Loans (Subsidized & Unsubsidized)

Federal Direct Student Loans

Eligibility for a Direct Federal Subsidized or Unsubsidized loan is based upon ‘need’ as determined by the information submitted on the FAFSA. Undergraduate borrower limits for Federal Direct Loans are as follows:

Dependent Students
  • $3,500.00 Subsidized + $2,000.00 Unsubsidized for Dependent Cosmetology Students
  • $2,333.00 Subsidized + $1,333.00 Unsubsidized for Dependent Aesthetics Students
Independent Students*
  • $3,500.00 Subsidized + $6,000.00 Unsubsidized for Independent Cosmetology
  • $2,333.00 Subsidized + $3,999.00 Unsubsidized for Dependent Aesthetics Students
  • Please note, in the event that dependent student’s Parent PLUS loan is unable to be accepted, this student is still able to borrow the subsidized amount. In addition, the student will be eligible to borrow the initial unsubsidized amounts of an independent student. (See below)
Dependent Students with Plus Loan denied
  • $3,500.00 Subsidized + $6,000.00 Unsubsidized for Dependent Cosmetology Students
  • $2,333.00 Subsidized + $2,666.00 Unsubsidized for Dependent Aesthetics Students

The cumulative aggregate Federal Direct Loan debt an undergraduate dependent student may incur is $31,000.00 - no more than $23,000.00 may be from the Direct Subsidized Loan program. The cumulative aggregate Federal Direct Loan debt an independent student may incur is $57,500.00 - no more than $23,000.00 from the Direct Subsidized Loan program.

Loan Entrance Counseling and Master Promissory Note

Students must complete Loan Entrance Counseling and a Master Promissory Note (MPN) prior to borrowing. The Loan Entrance Counseling provides required information about a borrower’s rights and responsibilities. The financial aid office will contact the student to complete these requirements.

Subsidized Federal Direct Loans are 'interest free' while the student is enrolled at least half-time (6 credits). Students are required to begin repayment six months after leaving school or withdrawing from the program. The interest rate for loans disbursed from July 1, 201* and before July 1, 2020 is 4.53% fixed. The loan fee for loans disbursed on or after October 1, 2017 and before October 1, 2018 is 1.066%. The loan fee for loans disbursed on or after October 1, 2018 and before October 1, 2019 is 1.062%.New borrowers as of July 1, 2013 may not receive Direct Subsidized Loans for more than 150 percent of the published length of their program (measured in academic years).

Unsubsidized Federal Direct Loans are available to students who do not qualify for a Subsidized Stafford loan or are eligible for loan funds in addition to their subsidized eligibility. Students are responsible for the interest on the loan while enrolled in school. Students may choose to have the interest capitalized. The interest rate for loans disbursed from July 1, 2019 and before July 1, 2020 is 4.53% fixed. The loan fee for loans disbursed on or after October 1, 2017 and before October 1, 2018 is 1.066%. The loan fee for loans disbursed on or after October 1, 2018 and before October 1, 2019 is 1.062%.

Salon Owner SPOTLIGHT

Attending Artistic Academy has set my career as a hairstylist on a course for success. Artistic Academy not only teaches the fundamentals of hairdressing but also nurtures the creativity which sets you apart from the rest. As a salon owner, I know I can depend on Artistic Academy to cultivate the high caliber of professionals which this industry demands.

Maria Mount, Plume Studio, Millburn

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Our Latest Events

Artistic Design Day
Artistic Design Day

Using their artistic vision and skills, students work cooperatively to express their creativity with a predetermined theme.

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Shear Genius
Shear Genius

Impromptu competition...at Artistic Academy of Hair Design, it’s always a possibility!

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Constitution Day
Constitution Day

Students celebrate the 18th century by recreating era-appropriate hair styles and make up.

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Artistic Academy

Artistic Academy of Hair Design is a 14,655 square ft facility which provides a pleasant and spacious atmosphere conducive to the art of learning.

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Route 10E, 301 Gibraltar Drive, Suite 1A,Morris Plains, NJ 07950
  • 973.656.1401
  • info@artisticacademy.com
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