Students may apply for federal financial aid by completing the Free Application for Financial Student Aid at www.fafsa.ed.gov. Assistance for completing this application is available at the school. The student will then need to submit requested documents for verification to the Director of Financial Aid. Students with special financial circumstances will be considered on a case-by-case basis by the Director of Financial Aid. For more financial aid details, please contact the school. The academic year for all programs is 24 credit hours completed in 30 weeks.
Don't forget to include our school code on your application. School code: #041393
If you need help completing your FAFSA application give us a call at (303) 934-1288 and a financial aid administrator will help you.
To be eligible for financial aid, a student must:
The school only offers the Federal Pell Grant to students who qualify as part of the financial aid package.
Disbursement of Financial Aid Policy
For a student enrolled in an eligible program that is one academic year or less in length:
For a student enrolled in an eligible program that is more than one academic year in length:
a. The first payment period is the period of time in which the student completes the first half of the academic year as measured in credit hours; and
b. The second payment period is the period of time in which the student completes the second half of that academic year;
b. For any remaining portion of an eligible program that is more than one-half an academic year but less than a complete academic year:
a. The first payment period is the period of time in which a student completes the first half of the remaining portion of the eligible program as measured in credit hours; and
b. The second payment period is the period of time in which the student completes the remainder of the eligible program; and
c. For any remaining portion of an eligible program that is not more than half an academic year as measured in credit hours, the payment period is the remainder of the eligible program.
Disbursements are credited to students’ accounts. The disbursed amount can be found on the students Progress Report.
Student Rights and Responsibilities
The student has the right to ask the school:
It is the student’s responsibility to:
Return of Financial Aid Funds Policy
If a student withdraws officially or unofficially from National Beauty College (NBC), then the school and/or the student may be required to return some of the federal funds awarded to the student. If the student received financial assistance, then a portion of the refund will be returned to the funding source from which the assistance was received.
If a student will be withdrawing, then the student should visit the office and complete a form entitled “Withdrawal Form” to begin the withdrawal process. This procedure will enable NBC to refund the maximum possible institutional and student charges.
NBC’s Refund Policy exists for calculating the refund of institutional charges (see Refund Policy). The Federal “Return of Title IV Funds” formula dictates the amount of Federal Title IV aid that must be returned to the Federal government by the school and/or the student. The federal formula is applicable to a student receiving federal aid other than Federal Work-Study if that student withdraws on or before the 60% point in time in the semester.
The federal formula requires a return of Title IV aid if the student received federal financial assistance in the form of a Federal Pell Grant, Academic Competitiveness Grant, Federal Supplemental Educational Opportunity Grant, Federal Student loan or PLUS loan and withdrew on or before completing 60% of the semester. The percentage of Title IV aid to be returned is equal to the number of calendar days remaining in the term divided by the number of calendar days in the term. Scheduled breaks of more than four consecutive days are excluded.
Return of Unearned Title IV Aid (34CFR 668.22)
The federal rules state that you earn your aid based on the period of time you remained enrolled.
--------------------------- = % of aid earned
days in the
The Office of Financial Aid calculates the percentage of aid earned using this formula. If you remain enrolled beyond the 60 percent point, you earn all your aid for the period. Aid earned is credited to your tuition and fee bill. Worksheets used to determine the amount of refund or Return of Title IV aid are available upon request.
All awarded and accepted aid is paid to your student account in the beginning of a term. Aid is considered to be earned, on a prorated basis, on the total number of days you attend a term by the Department of Education. For example, if you completed 30% of the term, you have earned 30% of your aid and you will have to return a portion of aid that you have not earned. Once you have completed more than 60% of the term, the Department of Education considers you to have earned 100% of your aid.
For students with Title IV grants (Pell), 50% of your grant aid is protected from return to the school or the Department of Education.
1. Federal Pell Grants
This policy applies to students with financial aid who officially or unofficially withdraw from the college. Repayment of any funds due by the student must be paid within 45 days of the date of notification to avoid being sent to the State of Colorado Collections Agency. Funds not received by 45 days will be transferred and reported as an “overpayment” to the U.S. Department of Education.