Financial Aid and Scholarships
EI is able to provide aid for US Citizens and permanent residents. EI offers the Stafford Loan, Parent PLUS loan, PELL Grant, SEOG and Federal Work. Each type of aid has specific eligibility requirements. However, it is important for you to know that financial aid may not cover all of your tuition costs.If you are interested in applying for financial aid, please read this section thoroughly.
- Step 1: Apply for a Pin Number
Apply for a pin number at www.pin.ed.gov. Your pin number gives you access to your FAFSA (Free Application for Federal Student Aid) and can be used to provide your electronic signature on the FAFSA.
- Step 2: File the FAFSA
Once you receive your pin number, navigate to www.fafsa.ed.gov to complete the Free Application for Federal Student Aid (FAFSA) application. Elegance International school code is 014484. You must complete the FAFSA to apply for Federal Financial Aid.
Completing the FAFSA online insures that the information is accurate and that it goes directly to the federal processor so you will receive your Student Aid Report sooner. If you require a paper application you may request one from the Department of Education by calling 1-800-4-FED-AID.
NOTE: The deadline for filing the 2012-2013 FAFSA is June 30, 2013.
Please apply or renew 2013-2014 FAFSA
Upon request from the Financial Aid Office, you may need to provide additional documents such as student and/or parent tax returns, verification of untaxed income, or other documents required to determine eligibility.
Your eligibility for the need-based financial aid programs is determined by subtracting your Effective Family Contribution (EFC) as determined by your Student Aid Report, from the cost of attendance for your course of study. Cost of attendance includes tuition and fees, books and supplies, housing, personal and transportation costs. Charges for tuition and fees can be found in the Tuition & Fees section of the current EI catalog. Other costs are based on standard expense budget as determined by the California Student Aid Commission. These costs are subject to change.
The general requirements for receiving financial aid
General requirements for any student receiving financial aid include:
US citizenship or permanent resident status
Be registered with the Selective Service System (male, age 18-25)
High school diploma or equivalent
Attain a passing score on the Ability to Benefit test selected by EI
Maintaining satisfactory academic progress while attending EI
Not owe a refund on a federal grant or be in default on a federal education loan
Financial aid funds disbursements
In general, financial aid funds are disbursed two equal payments during the program. The second payment will be released after completing half of the program. Government financial aid funds are sent to the school via electronic funds transfer. Students will be notified of disbursements made to their tuition account.
NOTE: Student loans must be repaid. Repayment terms vary according to each specific loan type and amount, but repayment is an obligation and failure to repay may have serious negative effects on your future credit rating and ability to borrow.
Elegance International participated in the William D. Ford Federal Direct Loan program beginning July 1, 2010. This is a low-interest, need-based loan designed to provide students with additional funds for education training. Dependent students who qualify may borrow up to a maximum subsidized of $2333 depending on program. Independent students may borrow up to subsidized of $2333 and Unsubsidized of $4000 depending on program. Repayment generally begins six (6) months after your last date of attendance and the minimum monthly payment is $50.00 per loan. The interest rate is variable (maximum 8.25%) and is adjusted annually. For students who demonstrate a need for a subsidized loan, the government will pay the interest on your loan during the time you are in school and the specified grace period. Students who have a calculated need less than the maximum on the loan may borrow the difference on an unsubsidized loan and will be responsible for the entire interest on that portion of the loan.
Direct Plus Loan
PLUS loans are for qualified parents of dependent students who want to borrow to help pay for their children’s education. Eligible PLUS borrowers may borrow up to the yearly cost of education less other financial aid awarded to the student. PLUS loans are credit-based and require approval by the lender. This is a loan and must be repaid. Repayment on the PLUS loan begins within 60 days of the final disbursement. The amount of the monthly payment will vary with the amount borrowed, but will never be less than $50.00 per month. The interest rate is variable and is adjusted annually, but will not exceed 9%.
To Start the Loan Process
Complete the Entrance Counseling and Master Promissory Note
Direct Loan Entrance Counseling will explain the Direct Loan obligation you agree to meet as a condition for receiving a Federal Direct Loan.
Complete the Entrance Counseling and Sign your Master Promissory Note by navigating to: https://studentloans.gov
The Loan Application Process Tip Sheet is available in EI Financial Aid Office.
Federal Pell Grant
The Pell Grant is a federally funded program and is intended to help eligible students access to the post-secondary institution of their choice. Pell Grants are gift aid awarded pm the basis of financial need. The Department of Education uses the information provided on the Free Application for Federal Student Aid (FAFSA) to determinate your eligibility.
Federal Supplemental Education Opportunity Grant (SEOG)
The SEOG is for undergraduate students with exceptional need and is no repaid. Eligibility us determined in part by submitting the FAFSA. This program is funded by the Department of Education and administrated by the school’s financial aid office. The SEOG fund is limited and awards are offered until the funds are depleted.
Federal work-study program provides students an opportunity to earn money for college expenses during the enrollment. The student’s skills, available hours fir work and financial needs are used to refer the student for placement. Jobs are available on campus but position may be available at select non-profit locations.
Elegance International is required to comply with these federal regulations regarding Return of Title IV Funds in determining the amount of the Title IV Financial Aid that must be returned on behalf of a student.Elegance International will continue to comply with state and institutional refund policies in determining the amount of unearned tuition, as stated in your Enrollment Agreement and in the catalog.
Return of the Title IV Provisions
All institutions participating in the Student Financial Aid (SFA) Programs are required to use a statutory schedule to determine the amount of SFA Program Funds a student has earned when he or she ceases attendance based on the payment period the student was in attendance. A payment period at this institution is completion of 15 units.
Return of Title IV Procedures
If a recipient of SFA Program assistance withdraws from school during a payment period in which the recipient began attendance, the school must calculate the amount of SFA Program assistance the student did not earn and those funds must be returned. Up through the 60% point in each payment period, a pro rata schedule is used to determine how much SFA Program funds the student has earned at the time of withdrawal. After the 60% point in the payment period, a student has earned 100% of the SFA Program funds.
The percentage of the payment period completed is the total class hours completion in the payment period for which the assistance is awarded divided into the number of class hours completed in that period as of the day the student withdrew.Number of hours completed/ Number of hours in period= Percentage completed (rounding the third decimal place up in the fourth decimal place is 5 or more)
Return of Unearned SFA Program Funds
The school must return the lesser of the amount of SFA program funds that the student does not earn, or the amount of institutional cost that the student incurred for the payment period multiplied be the percentage of funds that was not earned.
If the institution must return Federal funds received by students who withdraw prior to completing the 60% of a given payment period, the student may owe the school for the portion of the funds returned that the institution is otherwise entitled to based on the school’s approved and applicable refund policy.
‘Return to Title IV’ worksheets are available upon request from the Financial Aid Office.
Artistry of Makeup Program
24 units, 720 clock Hours
Financial aid funds disbursement
In general, financial aid funds are disbursed two equal payments during the program, 1-12 units and 13-24 units. The second payment will be released after completing half of the program. Government financial aid funds are sent to the school via electronic funds transfer. Students will be notified of disbursements made to their tuition account.
Satisfactory Academic Progress Policy (SAP)
The second financial aid disbursements are subject to the SAP status and completion more than half of the program.
School reviews the measurement of student’s progress at the end of each payment period. After final grades have been posted, students with a cumulative GPA (Grade Point Average) of less than 2.0 will be placed on FA warning.
Leave of Absense
In the event the student does not return from a leave of absence, any refund due will be made to the appropriate financial aid program.
For Federal loan borrowers:
If not returning from leave of absence, the period of leave of absence will reduce you grace period.
If you take out a student loan, you have certain rights. Some of those rights are listed below:
If you take out a Stafford Loan, you have the right to a grace period before your repayment period begins. The grace period begins when you leave school or drop below half-time status. The exact length of your grace period will be shown on the promissory note provided to you by your lender.
You must be given a repayment schedule, which lets you know when your first payment is due, and the number, frequency and amount of all payments.
You must be given a list of deferment and cancellation conditions.
Before the first loan may be disbursed, you must receive the following information in an entrance interview:
- The full amount of the loan, the interest rate and when you must begin repayment.
- The effect borrowing will have on your eligibility for other types of financial aid.
- The yearly and total amounts you can borrow, and the minimum and maximum repayment periods.
- A current description of loans you owe your school and/or lender, an estimate of what your total debt will be and what your monthly payments will be.
- An explanation of default and its consequences.
Before you leave school, you must receive the following information about your loan in an exit interview:
- The amount of your total debt
- The average monthly repayment amount you can expect.
- The name of the organization that holds your loan, where to send your payments and where to write if you have questions about your loan.
- A description of deferment and forbearance.
- Debt management advice. Notification that you provide your expected permanent address and the address of your expected employer, and any correction to the school’s records concerning your name, Social Security Number and driver license number.
Entrance and Exit Counseling
You also have certain responsibilities. Here are a few of them:
- When you sign a promissory note, you are agreeing to repay according to the terms of the note. This note is a binding legal document. This commitment to repay means that you will have to pay back the loan, even if you don’t complete your education, aren’t able to get a job after you complete the program, or you are dissatisfied with, or do not receive the education you paid for. If you do not pay back your loan on time, or according to the terms in your promissory note, you may go into default, which has very serious consequences.
- You must make payments on your loan even if you do not receive a bill. Billing statements and coupon books are sent to you as a convenience, but not receiving them does not relieve you of your obligation to make payments.
- Even though you may have applied for a deferment, you still must continue to make payments until your deferment is processed. If you do not, you may end up in default. You should keep a copy of any deferment request form you may have and you should document all contacts with the organization that holds your loan.
- Notify the organization that holds your loan if you graduate, withdraw from school, or drop below half-time status, change your name, address, or Social Security Number, or transfer to another school.
The financial aid staff is expected to continually maintain exemplary standards of professional conduct in all aspects of carrying out his or her responsibilities, specifically including all dealings with any entities involved in any manner in student financial aid, regardless of whether such entities are involved in a government sponsored, subsidized, or regulated activity.
In doing so, a financial staff person at EI should refrain from taking any action for his or her personal benefit; refrain from taking any action he or she believes is contrary to law, regulation, or the best interests of the students and parents he or she serves.
Ensure that the information he or she provides is accurate, unbiased, and does not reflect any preference arising from actual or potential personal gain. Be objective in making decisions and advising students at EI regarding relationships with any entity involved in any aspect of student financial aid.
EI staff will refrain from soliciting or accepting anything other than nominal value from any entity: a governmental entity (such as the U.S. Department of Education) involved in the making, holding, consolidating or processing of any student loans, including anything of value (including reimbursement of expenses), and/or for serving on an advisory body or as part of a training activity of or sponsored by any such entity.
Disclose to the school in such a manner as the school may prescribe, any involvement with or interest in any entity involved in any aspect of student financial aid.
The ELEGANCE INTERNATIONAL STATEMENT of ETHICAL PRINCIPLES
The primary goal of the school’s financial aid office staff is to help students achieve their educational potential by providing appropriate financial resources. To this end, this Statement provides that the school’s financial aid office staff shall:
Be committed to removing financial barriers for those who wish to pursue postsecondary learning.
Make every effort to assist students with financial need.
Be aware of the issues affecting students and advocates of their interests at the institutional, state, and federal levels.
Support efforts to encourage students to aspire to and plan for education beyond high school.
Educate students and families through quality consumer information.
Respect the dignity and protect the privacy of students, and ensure the confidentiality of student records and personal circumstances.
Ensure equity by applying all need analysis formulas consistently across the full population of the EI student financial aid applicants.
Provide services that do not discriminate on the basis of race, gender, ethnicity, sexual orientation, religion, disability, age, and/or economic status.
Recognize the need for professional development and continuing education opportunities.
Promote the free expression of ideas and opinions, and foster respect for diverse viewpoints within the profession.
Commit to the highest level of ethical behavior and refrain from any conflict of interest or the perception thereof.
Maintain the highest level of professionalism, reflecting a commitment to the mission and goals of EI.
Additional information about financial aid at Elegance International may be obtained by financial aid office. Financial aid is available for Special Effects Makeup(SFX) and Artistry of Makeup programs, which is not available for individual classes or workshops.
Currently Elegance International does not participate Cal Grant, state funded program.
Veterans applying to EI must make arrangements to pay tuition through means other than Veterans benefits (e.g., cash or financial aid). If you qualify, Veterans benefits will be paid to you while you are in attendance. All arrangements for Veterans Benefits are between the applicant and the Veterans Administration.