The Financial Aid Office at Boca Beauty Academy administers Federal Title IV aid programs. Applicants to the Cosmetology, Barbering, Massage Therapy, Master Fitness Coach, Electrolysis, Paramedical Esthetician, Full Specialist and Makeup & Skin Care programs may qualify for federal financial aid. Federal aid programs include the Federal Pell Grant Program, Federal Stafford Loan Programs, and the Federal PLUS Loan program available to qualified applicants enrolled in an eligible program.
Applying for Federal Financial Aid begins by completing the FAFSA application at the Financial Aid Office or by visiting www.fafsa.ed.gov.
Federal Pell Grant
A Pell Grant is considered to be the first source of aid awarded to the student. Eligibility will be determined based on the FAFSA application. If the student is eligible for a Pell Grant, the award amount eligibility for a full time student is a maximum of $5,815 for the 2016-2017 award year.
Boca Beauty Academy participates in the William D. Ford Federal Direct Subsidized/Unsubsidized Stafford Loan and Federal Direct PLUS Loan programs. The Direct Loans are as follows:
Direct Subsidized Stafford Loan is a need based loan. The subsidized loan made on or after October 1st, 2015 and before October 1st, 2016 has a fixed interest rate of 4.29% and a current 1.068% origination fee.The U.S. Department of Education pays the interest that accrues on the Federal Direct Subsidized Loan while the student is enrolled in school at least part time. The maximum amount that can be awarded in subsidized loan for a freshman is $3,500. Repayment begins six months after the last day of attendance.
Direct Unsubsidized Stafford Loan is a non-need based loan awarded to students who meet the qualifications. The loan is based on the cost of attendance less any other financial aid a student receives. The unsubsidized loan made on or after October 1st, 2015 and before October 1st, 2016 has a fixed interest rate of 4.29% and a current 1.068% origination fee. The amount an independent student can borrow during an academic year is $6,000. A dependent student can borrow $2,000 in unsubsidized loan unless the student’s parent is denied for the Parent PLUS Loan in which case the student may receive an additional $4,000.Students have the option to either pay the interest while in school, or have the interest capitalized up to six months after the last day of attendance.
Federal Direct PLUS Loan program provides non-need based loans to parents of dependent students. The Plus loan eligibility is based on the cost of attendance less any other financial aid a student receives. The applicant must pass a credit check and is responsible for repaying the Plus loan. The fixed interest rate for a PLUS loan made on or after October 1st, 2015 and before October 1st, 2016 has a interest rate of 6.84% and the current origination fee is 4.272%. Applicants for these loans are required to complete the Free Application for Federal Student Aid (FAFSA).
Address: 7820 Glades Road, Boca Raton, Florida, 33434. Attn – Financial Aid Office
Direct Line: 561-487-1191
Hours: Monday, Tuesday, Wednesday, Thursday and Friday: 9:00 a.m - 6:00 p.m.