So, you’ve decided to become an esthetician and you also found one of the best schools available for your education – Estelle Skin Care and Spa Institute! You’re on your way to starting a new, exciting career doing something that you’re passionate about. You should be feeling pretty great right now, but if you’re like most people, you still have one pretty big concern; how will you pay for your tuition?
The cost of any good esthetics education can sometimes be overwhelming, and many students struggle with finding the right type of financial aid for them. Just sorting out what all of your options are can be difficult. Grants, loans, scholarships – what are the differences, and which ones should you be focused on?
While it seems like a lot to process, don’t worry; we’re here to help. Read on to learn more about the variety of ways that you can begin to finance your education here at Estelle Institute.
1. Federal Financial Aid
The first step you will want to take is to complete your Free Application for Federal Student Aid (FAFSA). Until you do this, you won’t really know what kind of aid you can qualify for. Filling out your FAFSA will give you a layout of what type of student loans you can get, and it will also give you access to the Direct Stafford Loan, one of the best federal loans available for students.
Having your FAFSA will also qualify you for certain grants that you wouldn’t be approved for otherwise. Filling out your FAFSA is completely free, and there are no obligations, so you can apply your FAFSA to any accredited school.
Just remember that federal student aid is only available for accredited schools. Estelle Institute is accredited by NACCAS (the National Accrediting Commision of Career Arts & Sciences), so financial aid is available for any qualifying student attending our school.
You can start filling out your FAFSA any time; visit our Financial Aid page for more information and our school code.
2. Federal Grants
So, we mentioned grants a moment ago; but what are they exactly, and how are they different from a school loan? Put simply, a loan is borrowed money that you need to pay back, while grants are like loans that never have to be repaid. Grants are based on your financial needs, and can supplement loans when loans are not enough. Grants depend on how much money you need to attend your school of choice.
Keep in mind, though, that grants are only good for the education they were intended for, and pulling out of a program before it is completed will mean having to pay the grant back. Grants can also accrue costs if there is a significant change in your tuition; for example, if you make the change from a full-time to a part-time student.
3. Scholarships
Ok, now you know the difference between grants and loans, but what about grants and scholarships? Aren’t they the same thing?
Not exactly. While grants and scholarships are basically the same when it comes to what they are (free money given to you for your education), they differ on how you go about getting them. The difference here is that grants are given because of financial need, while scholarships are given because of academic merit. This means that if you want a scholarship, you’ll have to show that you have the knowledge and skills to excel in your current field.
Scholarships for esthetics school often run up to $1,000, and applying for one is usually pretty simple. Scholarships are given out by different schools and organizations so they all have their own rules, but generally they ask for a short essay about why you chose your field of study. There are a wide number of scholarships available, so don’t limit yourself to just a few. Applying to as many as you can will up your chances of being selected, and give you the chance to be approved for multiple scholarships.
4. Other Options
Another financial option that you may not have thought of is employer tuition reimbursement. This is a program run through certain companies for their employees, in which the employee’s company pays for a part of her college fees. Often this will happen when an employee is pursuing an education that will help them move up in the company. This means that if you already have an entry-level job in the beauty and skin care industry, this might be an option for you.
For Estelle students, we also offer an in-house monthly payment plan to help with the cost of tuition. We don’t charge interest, and many students find this plan helpful as it breaks school payments into more affordable monthly deposits.
Whatever path you plan to take in your financial journey, remember that we’re here to help. For any questions or concerns about your payment options, feel free to contact our Financial Aid Department. We’ll walk you through any problems you may come across, and try our best to make the admission process as smooth as possible.
Though it might seem like a huge hurdle at first, remember that getting yourself set financially is just a part of your journey. All the work that you put into financing your education is just a step on the way to having an esthetics career that you love!
Federal financial aid is available only to those who qualify.