So, you’ve made the decision that you want to attend beauty school, but with tuition costs easily ranging between $5,000 and $15,000 per year, the thought of paying for such an education can seem quite daunting. It is important, however, to remember that your beauty school education isn’t just money you’re shelling out (though it may feel that way at first)—it’s an investment that will pay large dividends in your future. Still, if you’re struggling with the idea of paying for beauty school, you might be wondering what options are available to you.
Applying for Federal Aid
One of the best steps you can take once you decide to enroll in beauty school is to fill out a Federal Application For Student Aid (FAFSA). This form will ask for information regarding the school you’re planning on attending, along with your personal information (such as contact information, income, and previous years’ tax returns). From there, an algorithm will be used to determine your need for government assistance in paying for your schooling.
At the very least, filling out a FAFSA will open up the doors to take out a number of different Federal loans, including subsidized loans that won’t accumulate interest while you’re enrolled in school. In some cases, you may even be eligible for Federal grants, which are essentially free money that you can use towards your beauty school payments (and that you don’t have to pay back). Just be sure to fill out a new FAFSA every year you’re in school to maintain eligibility.
Exploring Outside Loans, Scholarships, and Grants
If you miss the FAFSA deadline or aren’t offered enough financial aid to cover your beauty school costs up-front, you might also want to look into other loan, scholarship, and grant options. After all, the Federal government isn’t the only entity that offers these. There are all kinds of lenders out there that specialize in financial aid, and some of them may even be able to offer you lower interest rates than what the Federal government does.
Furthermore, there are often outside scholarships and grants offered directly by beauty schools and other entities, so be sure to apply for as many as you’re eligible for. Generally, scholarships are awarded based on performance, whereas grants are based on need. Scholarships and grants don’t need to be paid back, so even if you get approved for a small grant or scholarship, it can make a huge difference when it comes to dealing with the financial responsibility of paying for beauty school.
Finally, if you want to graduate debt-free and have already exhausted your scholarship and grant options for this semester or school year, never rule out the possibility of paying for some of your schooling out-of-pocket. Sure, it may seem a bit daunting when you first think about it, but with enough careful planning, many beauty school students are able to make it happen. Specifically, be sure to look into payment plan options, which are offered by many schools these days. With a payment plan, you can pay a small amount on your tuition each month rather than having to pay the entire bill off in-full at the start of the semester.
To help pay your way through beauty school, you might event consider accepting a part-time job as a front-desk worker or hair-washer in a salon as a means of killing two birds with one stone! In addition to making some extra cash to pay your way through school, you’ll gain some valuable industry experience as well. By keeping these tips in mind as you enroll in beauty school, you can stop worrying about how you’re going to pay for your education and focus on the returns your education is going to yield for you in the future.