Financial Aid

GENERAL REQUIREMENTS FOR STUDENT ELIGIBILITY

Financial Aid is available for those who qualify. Federal Student Aid is awarded on a need basis for each applicant. Need is determined by evaluating the information from the Free Application for Federal Student Aid (FAFSA). Factors such as income, assets, and benefits are considered in determining the student’s financial needs. 

Students applying for federal and state financial aid programs must: 

• Have a financial need. 
• Be a citizen or an eligible non-citizen. 
• Be enrolled in an eligible program of study. 
• Not be in default on any National Direct Student Loan, Guarantee Student Loan or owe a refund on any Title IV Grants at any institutions previously attended. 
• Must be registered with selective service if a male student.
• Have a valid High School Diploma/GED if qualify under the Career Pathway (ATB) results with a passing score.
  

Start Your Application Now

Students must submit the Free Application for Federal Student Aid (FAFSA) to the U.S. Department of Education’s Central Processing System (CPS), if you want to be considered for federal and state financial aid. 

• Federal Student Aid will require a username and password. Whether you are a student, parent, or borrower, you will need to create your own account to apply for, receive, and manage your federal student aid.
• The button that states Learn More Here, rename it to Apply for FAFSA (the link to this button should be: https://studentaid.gov/)

What is an FSA ID?

An FSA ID is comprised of a username and password that you create. Your FSA ID allows you to access your federal student aid information online and is used to log in to many U.S. Department of Education (ED) websites, including FAFSA on the Web, NSLDS Student Access, StudentLoans.gov, StudentAid.gov, and the TEACH Grant website. Your FSA ID must be kept secure and never shared with anyone.

Financial Aid Department

FOLLOW THESE STEPS TO START THE PROCESS ELECTRONICALLY

1. Click on the link above to create an FSA ID or click here.
2. Create a username and password and enter an e-mail address.
3. Enter your name, date of birth, Social Security number, contact information, and challenge question and answer.
4. If you have a Federal Student Aid PIN, you will be able to enter it and link it to your FSA ID. You can still create an FSA ID if you have forgotten or do not have a PIN.
5. Review your information and read and accept the terms and conditions.
6. Confirm your e-mail address using the secure code, which will be sent to the e-mail address you entered when you created your FSA ID. Once you verify your e-mail address, you can use it instead of your username to log in to the websites.
   

THE FAFSA IS AVAILABLE IN PAPER AND ELECTRONIC FORMATS. YOU CAN GET THE PAPER VERSION BY CALLING 1-800-4-FED-AID. WE ENCOURAGE STUDENTS TO FILL OUT A WEB-BASED VERSION OF THE FAFSA AT https://studentaid.gov/. IN ORDER FOR OUR INSTITUTION TO BE ABLE TO RECEIVE THE APPLICATION YOU MUST ADD THE SCHOOL NAME AND SCHOOL CODE:

FLORIDA BARBER ACADEMY

SCHOOL CODE: 036114

AFTER THE APPLICATION IS COMPLETED, IT IS SENT TO THE DEPARTMENT OF EDUCATION FAFSA PROCESSOR. THE DATA INPUT WILL THEN BE SENT TO THE CENTRAL PROCESSING SYSTEM (CPS) TO CALCULATE THE EXPECTED FAMILY CONTRIBUTION (EFC) AND MATCH THE STUDENT’S DATA AGAINST A NUMBER OF DATABASES, SUCH AS THE SOCIAL SECURITY ADMINISTRATION’S CITIZENSHIP DATABASE, SELECTIVE SERVICE, VETERAN’S AFFAIRS, ETC. AFTER ALL PROCESSING IS COMPLETE, YOU WILL RECEIVE YOUR STUDENT AID REPORT (SAR) IN ABOUT 4 – 6 WEEKS AFTER SUBMITTING A PAPER APPLICATION, 1-5 DAYS AFTER SUBMITTING A WEB BASED APPLICATION AND THE INSTITUTE WILL RECEIVE AN INSTITUTIONAL STUDENT INFORMATION RECORD (ISIR) IN THE SAME TIME PERIOD. FBA WILL REVIEW THE ISIR OR SAR PRODUCED BY CPS.

A Federal Pell Grant is a free grant that does not have to be repaid. The student must complete the FAFSA in order to determine eligibility for the Federal Pell Grant. If the student is eligible for a Pell Grant, the award amount has a maximum of $7,395 for the 2024-2025 award year.

The William D. Ford Federal Direct Loan Program (also known as FDLP, FDSLP, or the Direct Loan Program) provides low-interest loans to students and parents to help pay for the cost of a student's education after high school. Unlike private loans from banks or other financial institutions, the lender for these loans is the U.S. Department of Education.

The interest rates for federal Direct Stafford loans for the 2024–2025 school year are:

• Undergraduate: 6.53% for Direct Subsidized Loans and Direct Unsubsidized Loans
• Graduate or professional: 8.08% for Direct Unsubsidized Loans
• Parents and graduate or professional students: 9.08% for Direct PLUS Loans
  

STUDENT AID INDEX

SAI stands for Student Aid Index, a number that colleges/schools use to determine how much financial aid a student is eligible for:

What it is 

A formula-based number that ranges from –1500 to 999999. The SAI is calculated from information provided on the Free Application for Federal Student Aid (FAFSA) form.

What it's used for 

Colleges use the SAI to determine a student's eligibility for need-based aid, such as grants, scholarships, loans, and work-study.

How it's calculated

The SAI is based on a family's taxed and untaxed income, assets, benefits, and size. Most tax information is automatically transferred from the IRS to the FAFSA, but some applicants may need to provide it manually.

What it doesn't mean

The SAI is not the amount of money a family will pay for college, nor is it the amount of federal student aid a student will receive.

When it replaced EFC

The SAI replaced the Expected Family Contribution (EFC) starting in the 2024–25 award year.

We appreciate your service to our country and our staff is looking forward to assisting military personnel. We are an approved institution to provide veterans educational benefits. For additional information please visit the links bellow.

• VA Educational Assistance
• www.va.gov

** For State Approving Agency (SAA) (Florida Department of Veterans Affairs)- All program hours (Theory and Practical Hours) are only offered as an in-residence component (Traditional settings) only.

FLORIDA BARBER ACADEMY IS APPROVED UNDER THE FOLLOWING STATE AGENCIES:

Department of Education, Vocational Rehabilitation Services, if you qualify, you can submit an application directly with your assigned Vocational Rehabilitation counselor.

US Department of Veterans Affairs

Veterans are admitted on the same basis as other applicants. Students seeking veteran educational benefits must contact the Veterans Administration (VA) Certifying Official and/or Financial Aid Representative at the school.

Below is a list of eligible programs offered by the school:

• Chapter 30 (Montgomery GI Bill®)
• Chapter 31 (Vocational Rehabilitation and Employment – VR&E)
• Chapter 33 (Post 9/11 GI Bill®)
• Chapter 35 (Survivors and Dependents Educational Assistance Program – DEA)
• Chapter 1606 (Montgomery GI Bill® Selected Reserve)
• Chapter 1607 (Reserve Educational Assistance Program – REAP)

For a list of required documents for students to apply for VA benefits at Florida Barber Academy, please contact your Financial Aid representative and/or VA Certifying official at the campus.

• Veterans Approved Educational Benefits (GI Bill®)

http://www.va.gov/

https://www.gibill.va.gov/

• Florida Prepaid College

https://www.myfloridaprepaid.com/

• Florida Student Scholarship Grant Programs OSFA:

https://www.floridastudentfinancialaidsg.org/SAPHome/SAPHome?url=home

The Integrated Postsecondary Education Data System (IPEDS) is a system of interrelated surveys conducted annually by the National Center for Education Statistics (NCES), a part of the Institute for Education Sciences within the United States Department of Education.

For the latest statistics on FBA: CLICK HERE