FINANCIAL AID

Introduction

Welcome and thank you for choosing to further your education at Summit Salon Academy – Gainesville. The financial aid page will guide you on completing the required steps and information for completing your financial aid application to see if you qualify for federal student aid.  We hope this helps you navigate through the financial aid process and please feel free to contact us with any questions or concerns you may have. Our financial aid staff is always readily available to assist you with all your financial aid needs during normal business hours Monday through Friday.

Changes to the Financial Aid Process

Submit a FAFSA Earlier

Starting with the 2017-18 FAFSA students will be able to submit a FAFSA as early as October 1st, rather than beginning on January 1st of the following year. The earlier submission date will be a permanent change, enabling students to complete and submit their FAFSAs as early as October 1st every year.

Earlier Income and Tax Information

Beginning with the 2017-18 FAFSA, students will report income and tax information from an earlier tax year. For example, on the 2017-18 FAFSA, students (and parents, as appropriate) will report their 2015 income and tax information, rather than their 2016 income and tax information.

How to Determine Which FAFSA to Complete

Below is a helpful chart to help you determine which FAFSA applications you will need to complete during your enrollment at Summit Salon Academy – Gainesville.

If You Plan to Attend Between You Will Submit This FAFSA You Can Submit The FAFSA From Using Income and Tax Information From
July 1st, 2017 to June 30th, 2018 2017-18  October 1st, 2016 to June 30th, 2018 2015
July 1st, 2018 to June 30th, 2019 2018-19 October 1st, 2017 to June 30th, 2019 2016
July 1st, 2019 to June 30th, 2020 2019-20 October 1st, 2018 to June 30th, 2020 2017
July 1st, 2020 to June 30th, 2021 2020-21 October 1st, 2019 to June 20th, 2021 2018

Types of Financial Aid Available

The amounts and types of financial aid you receive are determined through federal, state and institutional guidelines. Most federal financial aid is based on financial need.

Grants

Are awarded through federal, state and institutional sources and are based on financial need. Grants are regarded as “gift” aid and do not need to be repaid.

Scholarships

Are provided through various organizations and corporations, private donors, and sometimes the school itself. Scholarships are regarded as “gift” aid and do not need to be repaid.

Loans

Are offered at low interest rates and can be repaid over an extended period of time. The Financial Aid Office will verify your eligibility based on the information you provide on your Free Application for Federal Student Aid (FAFSA), the first step in applying for any financial aid.

Veterans Benefits

If you served on Active Duty, you might be eligible for education benefits offered by the Department of Veterans Affairs.

For example, the Post-9/11 GI Bill provides financial support for educational and housing expenses to individuals with at least 90 days of aggregate service after September 10, 2001, or individuals discharged with a service-connected disability after 30 days. You must have received an honorable discharge to be eligible for the Post-9/11 GI Bill.

If you are currently serving in the military, you may be eligible for funding offered through the Department of Defense Tuition Assistance program. Check your eligibility status and the amount for which you qualify with your Service prior to enrolling.

If you are the spouse or child of a service member who is serving on active duty Title 10 orders in the paygrades of E1-E5, O1-O2, or W1-W2, you may be eligible for financial assistance from the Department of Defense for education, training, and/or the occupational license and credentials necessary for a portable career.

If you are the spouse of child of a service member, you may be eligible for transfer of the service member’s Post-9/11 GI Bill benefits to you.

Eligibility Requirements

Your financial need determines your eligibility for financial aid. Generally, to qualify for federal, state, and/or institutional assistance, you must:

  • Have a high school diploma or General Education Development (GED) certificate
  • Have a valid Social Security Number
  • Demonstrate financial need based on the results of the FAFSA
  • Confirm eligibility if you have been convicted of possessing or selling illegal drugs by submitting Student Aid Eligibility Worksheet in your FAFSA application
  • Be enrolled in and attending classes. Most financial aid programs require at least half-time enrollment
  • Be attending a financial aid eligible certificate program
  • Register with the Selective Service System if required
  • Maintain Satisfactory Academic Progress in your course of study
  • Document any Unusual Enrollment History
  • Not be in default on any state or federal grant or loan received at any institution
  • Be a citizen or permanent resident of the United States or trust territories
  • Certify that you will use federal student aid only for educational purposes


How to Apply for Financial Aid

Create a FSA ID

Please review the following video for instructions on creating an FSA ID.

Complete a FAFSA Application

Every student looking to qualify for Federal Pell Grants and Federal Direct Stafford Loans must complete a FAFSA application. To determine which FAFSA applications you will need to submit please review the table under the “Changes to the Financial Aid Process” section of this webpage.

Our school code is 041631

Below are instructional videos on how to complete your FAFSA application

 

2017-18 FAFSA Walkthrough

2018-19 FAFSA Walkthrough

Complete Entrance Counseling

Entrance counseling only needs to be completed by students interested in taking a Federal Direct Student Loan and can only be completed once your FSA ID has been validated by USDOE and the Social Security Administration (Approximately 3 days after creation of your FSA ID).

If you have not previously received a Direct Loan or Federal Family Education Loan (FFEL), the Federal Government requires you to complete entrance counseling at Studentloans.gov to ensure that you understand the responsibilities and obligations you are assuming.

Steps to Navigate to the Entrance Counseling

  • Go to Studentloans.gov to officially complete the counseling session and log in with your FSA ID. If this is your first time logging into this site select your correspondence options for USDOE to communicate with you, then you will be on the homepage.
    • Navigate and click the complete counseling menu option on the left side of the webpage.
    • Locate where it says Entrance Counseling (required) and click the start button located to the right.
    • Selecting your schools to notify
      • On the left-hand side of the page choose your state from the dropdown list.
      • Then in the search school by name type in your school name.
        • NOTE: Currently our school is listed under our previous name SALON PROFESSIONALS ACADEMY(THE). It is the second school with this name listed.
      • Click the button labeled Notify this school
    • On the right side of the page under select student type select the radio button next to “I am completing entrance counseling to receive Direct Loans as an undergraduate student.”
    • Click continue and navigate through the following screens completing the required information and reading to submit your entrance counseling.

Complete Master Promissory Note

A Master Promissory Note only needs to be completed by students interested in taking a Federal Direct Student Loan and can only be completed once your FSA ID has been validated by USDOE and the Social Security Administration (Approximately 3 days after creation of your FSA ID).

The Master Promissory Note (MPN) is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the U.S. Department of Education. It also explains the terms and conditions of your loan(s). Unless your school does not allow more than one loan to be made under the same MPN, you can borrow additional Direct Loans on a single MPN for up to 10 years.

Summit Salon Academy – Gainesville will tell you what loans, if any, you are eligible to receive.

Steps to Navigate to the Master Promissory Note

  • Go to Studentloans.gov to officially complete the Master Promissory Note and log in with your FSA ID. If this is your first time logging into this site select your correspondence options for USDOE to communicate with you, then you will be on the homepage.
    • Navigate and click the complete a loan agreement (Master Promissory Note) menu option on the left side of the webpage.
    • Locate where it says MPN for Subsidized/Unsubsidized Loans and click the start button located to the right.
    • Selecting your schools to notify (On bottom first page)
      • Choose your state from the dropdown list.
      • Then in the search school by name type in your school name.
        • NOTE: Currently our school is listed under our previous name SALON PROFESSIONALS ACADEMY(THE). It is the second school with this name listed.
      • Continue and navigate through the following screens completing the required information and reading to submit your master Promissory Note.

Complete Parent PLUS Loan Documents (Optional)

Parent PLUS (Parent Loan for Undergraduate Students) Loans are available that enable birth, adoptive, or step-parents of dependent undergraduate students to borrow. There is a federal origination fee of 4% deducted proportionately from each loan disbursement.

Eligibility

To be considered for a Federal Direct PLUS Loan:

  • The Federal PLUS Loan is not based on financial need; however Summit Salon Academy – Gainesville requires completion of the FAFSA which can be completed online at http://fafsa.ed.gov.
  • The parent must obtain a FSA ID at http://fsaid.ed.gov
  • Students and parents must be a U.S. Citizen or eligible non-citizen
  • Students and parents must not be in default on a federal education loan or owe an overpayment on an educational grant
  • Student must be enrolled at least half-time
  • Student must attend classes and maintain Satisfactory Academic Progress
  • Applicant cannot have an adverse credit history. A credit check is required for approval.

 

Application Process

    1. Complete the Federal Direct Parent PLUS Loan Form.
      DOWNLOAD FORM
    2. Provide a photocopy of your Driver’s License/Identification card and Social Security Card to Financial Aid Office.
    3. Complete the PLUS Loan Refund Authorization Worksheet that is attached to the Federal Direct PLUS Loan Form.
    4. Complete the Online Direct Loan Master Promissory Note (MPN). Go to Federal Student Aid to complete this. This will only need to be completed by the parent ONCE PER STUDENT while your student(s) attends Summit Salon Academy – Gainesville. Once all steps are completed, make sure to print out a copy of your Master Promissory Note for your records. An electronic confirmation will be transmitted to the financial aid office within 24 hours.
    5. If your student withdraws from school, the Cost of Attendance and financial aid award amounts will be adjusted. This could result in a reduction or removal of loans or other financial aid.
  • The Financial Aid Office will notify the student of the award via email or an in-person meeting. Your student can view and accept the award on the first day of classes. By default, Summit Salon Academy – Gainesville only covers up to the cost of tuition for PLUS Loans unless an increase for living expenses is specifically requested by the Borrower of the PLUS Loan. Awards are determined on an ongoing basis and completed after your student’s financial aid file is complete and reviewed for eligibility. To be complete, your student must respond to all requests for information.

Verification

The Department of Education has regulations to ensure that only eligible students receive financial aid. Verification is the process used to confirm the data you provided on the FAFSA. It is to your benefit to submit all requested items as quickly as possible since your financial aid file cannot be reviewed or completed until verification is complete. If there are any differences found between information reported on the FAFSA and the actual figures provided in the verification documents, Summit Salon Academy – Gainesville will submit the corrections on your behalf. Your financial aid award will be based on the corrected information.

Your financial aid file may have been selected for verification randomly by the federal processor, or because your file appears to have errors or conflicting information. If your file is selected, requested documentation should be submitted as soon as possible to avoid delays in processing your financial aid.

If you are a dependent student and both biological and/or adoptive parents reside in the same household, you will need to provide both parents’ information regardless of their marital status or gender.

If you are an independent student and your marital status on the date the FAFSA was completed was “married,” you will need to provide your spouse’s information regardless of gender.

A student/parent is considered “married” if the student/parent was legally married in any domestic or foreign jurisdiction that recognizes that relationship as a legal marriage, regardless of where the couple resides. This determination applies to same sex or opposite sex couples. This determination does not apply to domestic partnership, civil unions, or similar formal relationships recognized under state law.

What Documents Do I Need to Submit?

If your Student Aid Report (SAR) has been selected for Verification, Summit Salon Academy – Gainesville will send a written request for documentation by e-mail or contact you by phone to schedule an in-person appointment. Not all applicants will be asked to submit the same documents. You may be asked to provide different documents than you have submitted in previous years.

Verification documents may include IRS Tax Transcripts, a completed Verification Worksheet, or other documents. In some circumstances, you may go back to your FAFSA application and use the IRS Data Retrieval Tool to download your income information. If you are unable to use the IRS Data Retrieval Tool, submit an IRS Tax Return Transcript. You may no longer submit copies of tax returns (IRS 1040, 1040A or 1040EZ). If you filed an income tax return with Puerto Rico, another U.S. territory, commonwealth, or with a foreign central government, provide a transcript that was obtained at no cost from the relevant taxing authority, or if this cannot be obtained at no cost, then provide a signed copy of that tax return.

How Do I Submit the Requested Documents?

Please submit all documents with your Student Name and telephone number written clearly at the top of each page. Do not submit original documents unless you are told to do so. Make copies of what you submit. To submit Verification documents, you may bring them to the Financial Aid Office in person, fax them to 352-331-2470, or e-mail them to finaid@ssacademygainesville.com.

Financial Aid Awards

Your file will not be complete until all requested documents are received and processed by the Financial Aid Office. The verification process may delay the awarding of financial assistance if corrections need to be submitted to the federal processor.

Verification Questions?

If you have questions, visit the Financial Aid Office or call 352-331-2424 Ex. 4.

Financial Aid Forms

2017-18 Verification Forms

USEFUL LINKS

You may call the Federal Student Aid Information Center:
1-800-4-FED-AID (1-800-433-3243)

TTY for the hearing-impaired is 1-800-730-8913

Got a question? Contact Us.

A REDKEN PREMIER SCHOOL

redkenpre

NACCAS ACCREDITED

fafsa