Financial Aid

Federal Financial Aid Available

Park Place Premier Barber School provides federal financial aid which is available to those students who qualify. In order to determine what types of aid you may qualify to receive, you must complete an application and submit it to the United States Department of Education.

This FAFSA (Free Application for Federal Financial Aid) can be completed several ways:

• The fastest way to complete this application is to complete it online. You may access the application by going to the FAFSA web site and completing the information. The web site will guide you through the application process. If you include our school code (042346) the results will be sent electronically to us in approximately 3-5 business days.
• We have a supply of paper applications available that you can request, complete and mail to the Department. This is the lengthiest of the application processes.
• You may complete a paper application and return it to us. We will then submit it electronically through the school. We usually have the results back in about 3-5 business days.

Steps to Apply

If applying for financial assistance to attend Park Place Premier Barber School please complete the following steps to ensure a smooth process.

1. Obtain your FSA ID_- a username and password. You can create one at https://fafsa.ed.gov
2. Complete the Free Application for Federal Student Aid aka the FAFSA by utilizing the direct website at WWW.FAFSA.ED.GOV on or after January 1, 2015. Submit any financial aid documents by the last Friday of the month, to meet Park Place Premier Barber School’s filing deadline. Before submitting the FAFSA be sure you included the federal school code on the FAFSA: 042346.
   • Use your income/taxes to complete. If applicable, complete parent information and have parent sign.
   • SIGNED 1040 Tax Form for you and/or your spouse from the year 2014.
   • W2 forms or Schedule C Form for you and/or your spouse from the year 2014.
   • Documentation of any untaxed income you may have received such as: Welfare, Disability, Child Support, Unemployment, etc.
3. Review Your Student Aid Report (SAR) and respond to any messages that may appear regarding your application.
4. If Your FAFSA is Selected For Verification you will be provided with instructions and documents to complete and return to Park Place Premier Barber School. Provide your documents promptly as FAFSA verification must be completed before financial aid can be awarded.
5. Completion of the FAFSA will produce an ISIR (Institutional Student Information Report) which will be sent electronically to this School and will allow the financial aid officer to produce an individualized Financial Aid Award Letter for the applicant; this FAA Letter will explain what aid is available to that applicant in the forms of Loans, Grants, Scholarships, etc. The amounts noted on the FAA are gross amounts and do not include fees taken from the lender.
6. FA Disclosure Form Please read this form, sign & return to the school’s FA officer. Any questions should be addressed with the School Administrator.
7. Student Loan Entrance Counseling This process is MANDATORY, and must be completed.
• If the Parent is applying for the PLUS loan, Parental Loan for Undergraduate students. Complete the Entrance Loan Counseling on-line at the Department’s website www.StudentLoans.gov
• Please print the “confirmation page” that you have completed this process and submit to the FA Officer.
8. Master Promissory Notes are to be completed electronically/on-line. Please go to: https://www.StudenLoans.gov to complete an electronic master promissory note. You can take this step now even if you have not yet received a financial aid award notice indicating your are eligible for a federal student loan. Parents using the Parent Loan for Undergraduate Students (PLUS) must also complete a master promissory note.
• CONFIRM THAT YOU have e-SIGNED YOUR MPN PLEASE
• After you have the opportunity to “PRINT” your MPN, there is a “SUBMIT” section. YOU MUST SUBMIT your MPN or all your work was for nothing and the MPN does not exist.
• Please print the “confirmation page” that you have completed this process and submit to the financial office.
• YOU MAY ALSO BRING:
  Registration Fees
  Financial Aid Disclosures

Awarding of Aid

Pell Grant:

A distinguished feature of the Pell Grant Program is its control concept of ENTITLEMENT, which guarantees that a student who demonstrates NEED will receive a grant based on that need and on the cost of education at the school they choose to attend.

Direct Loan:

The Direct program enables students to borrow from the US Department of Education at a low interest rate to meet educational expenses. The Department may choose to whom they lend, within Stafford Loan eligibility guidelines. As an undergraduate you may borrow up to the cost of attendance at your school less other financial aid you receive, if you are determined to be “Independent Status”.

PLUS Loan:

Eligibility is based upon FICO scores.

General Eligibility

• The applicant is a US citizen or an eligible non-citizen.
• The applicant can prove need. Need is the difference between the cost of education and the amount you or your family can afford to pay. Need is determined by the information that is supplied on the FAFSA.
• The student is making satisfactory progress toward completing their course of study. Refer to the school’s SAP guidelines.

Frequency of Payments

Eligibility for many financial aid programs are based in part on an academic year. Park Place Premier Barber School defines an academic year as:

• A year of at 26 weeks during which a full-time student would complete 900 clock hours.
• Loans and Grants are disbursed to the school at:
  (AY1) 30 Days and 0-450 clock hours and 13 weeks., 451-900 clock hours and 13 weeks.
  (AY2) 901 clock hours and 1200 clock hours

Refunds Due to Title IV Programs

The school will complete a R2T4 (return to title 4) Form, to determine the refund amount to be returned to the Title IV programs if needed, this is according to Department of Education according to Federal Guidelines. When the amount which must be returned has been determined, the School will first return all sums to the Stafford Loan Program, then the Pell Grant Program.

The school will determine any remaining tuition refund amount in accordance with the Institutional Refund Policy outlined within the School Catalog. If any refund is due to the student a check will be disbursed to that student in their name. Student will be notified by Post office mail/and or Emailed.

Applicant/Student Rights

You have the right to ask the school:

• The names of its accrediting and licensing organizations.
• You have the right to ask for a copy of the documents describing the institution’s accrediting or licensing.
• About its program, it’s instructional, laboratory and other physical facilities, and its faculty.
• If the school advertises its job placement rates as a means of attracting students – what information it has to back up its claims.
• What the cost of attending is and its policy regarding refunds to students who drop out. (see above Refunds Due To Title4 Programs)
• What financial assistance is available, including information on all federal, state, local, private and institutional financial aid programs?
• Who its financial aid personnel are, where they are located and how to contact them.
• What the procedures and deadlines for submitting applications for each available financial aid program are.
• How it selects financial aid recipients.
• How it determines your financial aid needs. The process includes how costs for tuition and fees, travel, books, supplies, personal and miscellaneous expenses are considered in your cost of education. It also includes the resources considered in calculating your need such as parental contribution, other financial aid, assets, etc.
• How much of your financial need, determined by the school, has been met.
• How and when you’ll receive your financial aid.
• To explain each type and amount of assistance in your aid package.
• What the interest rate is on any student loan you have, the total amount you must repay, the length of time you have to repay, when you must start repaying and what cancellation or deferment (postponement) provisions apply.
• To reconsider your aid package, if you believe a mistake has been made, or if your enrollment or financial circumstances have changed.
• How the school determines whether you are making satisfactory progress and what happens if you are not.

Applicant/Student Responsibilities

It is your responsibility to:

• Review and consider all information about a school program before you enroll.
• Pay special attention to your application for student financial aid, complete it accurately, and submit in time to the right place. Errors can delay or prevent you from receiving aid.
• Know all deadlines for applying or re-applying for aid, and meet them.
• Provide all documentation, corrections, and or needed information requested by either the financial aid office or the agency to which you have submitted your application.
• Notify your school of any information that has changed since you applied for financial aid.
• Read, understand and keep copies of all forms you were asked to sign.
• Repay the student loans you have. When you sign a promissory note you are agreeing to repay your loan debt.
• Attend an exit interview via NLSDS.ed.gov if you have taken out Loans.
• Notify your school of any change in your name, address or attendance status. If you have a loan you must notify your lender of these changes.
• Understand the school’s refund policy. If you drop out of school within a short time after you start, you may be able to get a part of your educational expenses returned to you. But after a certain date, you will not receive any money back. Check with your school to find out what expenses you may have to pay if you drop out/withdraw/terminate.
• If a student is convicted of a state or federal offense involving the possession or sale of an illegal drug that occurred while the student was enrolled in school and receiving Title IV aid , the student must be aware that federal financial aid eligibility will be suspended or cancelled for a period of time which will be determined by the USDE and executed by the school.

Keep Your Contact Information Current

Make sure you receive important messages from Park Place by notifying us of ANY changes in your information promptly to the school Financial Aid Office.