Financial Aid Information
Financial Aid is available for those who qualify. All students are expected to contribute towards the cost of their college
education. How much you and your family will be expected to contribute depends on your financial situation – and is what is
referred to as your Expected Family Contribution or EFC.
Gainful Employment Regulations - The Obama Administration released final regulations requiring career college programs
to better prepare students for “gainful employment” or risk losing access to Federal student aid. While many career college
programs are helping to prepare America’s workforce for the jobs of the future, far too many students at these schools are taking
on unsustainable debt in exchange for degrees and certificates that fail to help them get the jobs they need or were promised.
These regulations are designed to ramp up over the next four years, giving colleges time to reform while protecting students and
their families from exploitative programs. “These new regulations will help ensure that students at these schools are getting what they pay for: solid preparation for a good job,” Secretary of Education Arne Duncan said. “We’re giving career colleges every opportunity to reform themselves but we’re not letting them off the hook, because too many vulnerable students are being hurt,” Duncan continued.
To qualify for Federal aid, the law requires that most for-profit programs and certificate programs at nonprofit and public
institutions prepare students for gainful employment in a recognized occupation. Under the regulations introduced today, a
program would be considered to lead to gainful employment if it meets at least one of the following three metrics: at least 35
percent of former students are repaying their loans (defined as reducing the loan balance by at least $1); the estimated annual
loan payment of a typical graduate does not exceed 30 percent of his or her discretionary income; or the estimated annual loan
payment of a typical graduate does not exceed 12 percent of his or her total earnings. While the regulations apply to occupational
training programs at all types of institutions, for-profit programs are most likely to leave their students with unaffordable debts
and poor employment prospects. Learn More
The Free Application for Federal Student Aid (FAFSA) is the form used by the U.S. Department of Education to determine
your Expected Family Contribution (EFC) by conducting a “need analysis” based on financial information, such as income,
assets and other household information, which you (and your parents if you are a dependent student) will be asked to provide.
The form is submitted to, and processed by, a federal processor contracted by the U.S. Department of Education (ED), and the
results are electronically transmitted to the financial aid offices of the schools that you list on your application.
New Directions Beauty Institute is approved by the Department of Education to participate in the following Title IV financial aid
•Federal Pell Grant: The Federal Pell Grant Program provides a foundation of financial assistance that may be
supplemented by other resources.
•Federal Supplemental Educational Opportunity Grant (FSEOG): Supplemental Grants are based on the funds
available and do not have to be repaid.
•Direct Lending Program: The schools participate in the subsidized and unsubsidized Direct Lending Program directly
with the Department of Education.
•Federal Parent Loan for Undergraduate Students (FPLUS): The Federal Parent Loan for Undergraduate Students
(FPLUS) provides additional funds to help parents pay for educational expenses.
•Additional Funding Sources: Besides the Federal Aid Programs there are third party loans available to qualified
students. For students who do not qualify for federal financial aid, Expertise Cosmetology Institute offers a number of
flexible installment option plans to fit your individual needs.
You can get more information about the different Federal Student Aid Programs by visiting FAFSA.
Below you can input information into the calculators to give you an estimate of college costs, aid amounts and more.