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financial aid

Attention all Delaware Learning Institute of Cosmetology students, current and former. Please be aware of several scams currently circulating offering you help with your student loans. If you ever need assistance, please contact Ms. Melody, The United States Department of Education or your loan servicer. Please see the link below provided by The United States Department of Education pertaining to these debt relief scams. https://studentaid.ed.gov/sa/about/announcements/debt-relief-message

Delaware Learning Institute of Cosmetology is approved by the United States Department of Education to offer the following federal financial assistance programs whereby an eligible student 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.

  • Federal PELL Grant
  • Direct Student Loans
  • VA Benefits

 

Delaware Learning Institute of Cosmetology is now approved by the Post 911 GI Bill please see the Admission Representative for more details, call us at 302-732-6704 or visit http://www.gibill.va.gov/

 

Financial Aid at Delaware Learning Institute of Cosmetology

The student financial aid programs at Delaware Learning Institute of Cosmetology are designed to aid students who would find it difficult to attend college without financial assistance.

 

Delaware Learning Institute of Cosmetology offers the following sources of financial aid:

  • Scholarships
  • Grants
  • Loans
  • VA Benefits
  • GI BILL Post 911

 

Eligibility Requirements

  • Have financial need
  • Have a High School Diploma or a General Education Diploma (GED)
  • Be enrolled or accepted for enrollment as a regular student working toward a certificate in an eligible program
  • Be a U.S. citizen or eligible non-citizen
  • Have a valid Social Security Number
  • Make satisfactory academic progress
  • Register with Selective Service if required

 

Basics of Determining Financial Aid

The basics of determining a student’s financial need will be an analysis of the financial status of the student’s and/or the parents’ income. This analysis is accomplished by completing a Free Application for Federal Student Aid (FAFSA) distributed by the U.S. Department of Education.

 

You can complete a FAFSA online using our school code: 037023

Complete your FAFSA here: www.fafsa.ed.gov

 

Financial need is based on:

  • Cost of attendance
  • Expected Family Contribution

 

Complete Entrance/Exit Counseling and Master Promissory Note (MPN)

Fill it out here: www.studentloans.gov

 

Types of Student Aid

Federal Pell Grant

A Federal Pell Grant, unlike a loan, does not have to be repaid. Generally, Pell Grants are awarded 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.

William D Ford Federal Direct Loan Program

Direct Loans are the Department of Education’s main form of self-help aid for students. Under the Direct Lending Program, the funds for your loan are lent to you from the Department of Education.

 

Types of Direct Loans Available

Direct Subsidized Loan

A subsidized loan is awarded on the basis of financial need. You will not be charged interest before you begin repayment or during authorized periods of deferment. The federal government “subsidizes” the interest during these periods.

Direct Unsubsidized 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 allow 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.

Direct PLUS Loan

These loans are made to graduate or professional students and to parents of expenses not covered by other financial aid.

Direct Consolidation Loan

Direct consolidations loans allow you to combine all of your eligible federal student loans into a single loan with a single loan servicer.

Students are encouraged to apply for one type or a combination of the types of financial aid available.

 

More Financial Aid Web Sites!

US Department of education www.ed.gov

Student Aid www.studentaid.ed.gov

Federal school codes www.fafsa.ed.gov

 

Delaware Learning Institute of Cosmetology is now approved by the Post 911 GI Bill please see the Admission Rep for more details or visit http://www.gibill.va.gov/

 

OTHER LINKS

Selective Service System – register online
Internal Revenue Service – tax information
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