Financial Aid

The Kemon Hair Academy of Beauty and Barbering is approved by the United States Department of Education to offer the fol-lowing Federal Financial assistance programs whereby an eligible stu-dent is awarded an outright grant or loan for post secondary education. To be eligible to receive financial aid, a student must be enrolled as a regular student on at least a half time basis. Financial aid is available to those who qualify. Upon payment of the application fee, an appointment will be made with our Financial Planner. The Financial Planner will help you in selecting your schedule and completing our financial obligations to the school. At this time, you will be able to determine if you can afford to attend and complete your training.
• Federal Pell Grant
• Federal Family Education Loan Programs (Stafford and PLUS)

Financial Aid at Kemon Hair Academy of Beauty and Barber-ing- The student financial aid programs at the Kemon Hair Academy are designed to aid students who would find it difficult to attend college without financial assistance.

Kemon Hair Academy offers the following sources of financial aid and tuition assistance:
• Career Training and Tuition Answer Loans- www.salliemae.com
• Grants- Federal Pell Grant Program- www.fafsa.gov
• Loans- College Foundation Loans- www.cfi.org
• North Carolina Vocational Rehabilitation
• Veterans Administration
• Approved by Employment Security Commission of North Carolina – WIA and TIA programs

Eligibility Requirements:
Have financial need
Have a high school diploma or General Education Diploma (GED)
Be enrolled or accepted for enrollment as a regular student working to-ward a diploma or certificate in an eligible program
Be a U.S. citizen or eligible non-citizen
Have a valid Social Security Number
Make satisfactory academic progress and attendance progress
Register with Selective Service
Sign a State of Educational Purpose and a Certification Statement on overpayment and default

Basics of Determining Financial Aid
The basis of determining a student’s financial need will be an analysis of the financial status of the student’s and/or parent’s income. This analysis is accomplished by completing a Free Application for Federal Student Aid (FAFSA) distributed by the U.S. Department of Education. Upon completion of this form, an appointment with the Financial Aid Administrator will help guide you through the process of filling out your paperwork and enrolling into the academy.

These forms are available:
In High School Guidance Counselor’s Office
In Financial Aid office
Via U.S. Department of Education’s website: FAFSA on the Web at www.fafsa.ed.gov

Financial Need is based on:
Cost of attendance (COA)
Expected Family Contribution (EFC)
Financial Need

Types of Student Aid
Federal Pell Grant- A Federal Pell Grant, unlike a loan, does not have to be repaid. Unless you drop out of school, the amount to be repaid will depend on how far you have gone through school. Generally, Pell Grants are warded only to undergraduate students who have not earned a bachelor’s or professional degree. For many students, Pell Grants provide a foundation of financial aid to which other aid may be added.

Federal Family Education Loan Program- Stafford Loans are the De-partment of Education’s major form of self-help aid for students. Under the FFEL program, the funds for your loan are lent to you from a private lender (a bank, credit union, or other lender that participated in the FFEL program).

Types of FFELP Stafford Loans available:
Subsidized Stafford Loan- A subsidized loan is warded on the basis of financial need. You will not be charged interest before you begin repay-ment or during authorized periods of deferment. The federal government “subsidizes” the interest during these periods.
Unsubsidized Stafford Loan- An unsubsidized loan is not awarded on the basis of need. You will be charged interest from the time the loan is disbursed until it is paid in full. If you all the interest to accumulate, it will be capitalized- that is, the interest will be added to the principal amount of your loan and additional interest will be based upon the higher amount.

Students are encouraged to apply for one type or a combination of the types of financial aid available.
More financial aid Web Sites!
Department of Education- The Student Guide- Federal Financial Aid In-formation
The Smart Student Guide to Financial Aid – Scholarship Search and fi-nancial aid information
The North Carolina Student Assistance Commission (NCSAC) - State grant, scholarship, and FFELP website
Pin Registration- Apply for a U.S. Department of Education PIN number
School Codes – Look up Title IV school codes for FAFSA