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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 Student

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.
For the current loan interest rates, please visit: https://studentaid.gov/interest or https://studentaid.gov/understand-aid/types/loans/plus for further information regarding Federal Student Loans. 

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