Payment Plans Available:
Tuition can be payed through our convenient ‘Pre-Authorized Checking Service’. With a down payment at the start of school, payment plans can be arranged for up to 24 months.
OPI & AACS Ace | ($500 for all cosmetology programs) |
Sally Beauty | ($1000 for cosmetology) |
Great Clips | (for cosmetology) |
NCEA | ($1000 for esthetics) |
OPI | ($500 for manicuring) |
Future professionals wishing to use Title IV funds for the purchase of their books and supplies must have completed all of the steps needed to receive your financial aid and are waiting only for the processing of their application to be completed. This includes submitting verification materials, completing student loan entrance counseling and having completed the student loan Master Promissory Note (MPN). Upon receiving the first disbursement of funds the future professional has 14 days to remit payment for books and supplies to the admissions office, consequences for nonpayment can include; but not be limited to, an interruption of the ability to clock hours.
Future professional tuition may be paid by cash, check, money order, credit card or using Title IV Financial Aid (available to those who qualify) which is defined as assistance that the Future professional has been or will be awarded from State, Institutional or other scholarship, grant or loan programs.
A current FAFSA (Free Application for Federal Student Aid) is required to be completed prior to a determination of eligibility for all Title IV funds. Directions to complete this application, an MPN (Master Promissory Note) and Entrance Counseling are located on the “Directions to Apply for Federal Student Aid”, the US Department of Education’s annual publication of “Funding Education Beyond High School: The Guide to Federal Student Aid” and “Direct Loan Basics for Students” available from the Financial Aid Director or from the:
FAFSA Information Center 1-800-433-3243
FAFSA Website www.studentaid.ed.gov
The Institute currently participates in the Pell Grant, Stafford Direct Loan and Parent PLUS Direct Loan programs. The Institute does not coordinate but will certify veterans, state, local government and private funding sources.
Need Based AID (Pell Grant and Stafford Subsidized Loan) Calculation:
COA(Cost of Attendance) – EFC(Expected Family Contribution) = Need Eligibility
Non-Need Based Aid (Unsubsidized Stafford and Parent PLUS Loan) Calculations:
COA – EFA(Expected Financial Assistance/all other aid) = Non-Need Eligibility
COA = Budget – each future professional receiving an Award Letter estimating Title IV Eligibility will be assigned a Budget. The COA includes the following items: Tuition & Fees, Room and Board, Transportation, Misc/Personal, Books/Supplies and Other items such as special circumstances or expenses related to disabilities.
NSLDS (National Student Loan Data System) is available at studentaid.gov where borrower’s loan history can be reviewed. Students without Internet access can identify their loan holder by calling 1-800-4-fed-aid. The borrower will be made aware that the information on the NSLDS site is updated by school and the Department of Education and may not always have the most current information available. Information is accessible by guaranty agencies, lenders and institutions determined to be authorized users of the data system.
Description of Financial Aid Disbursement Procedures:
FAS/Genesis software is used to import ISIRS, perform Verifications and/or Corrections, Budget Creation, Awarding, SAP measurements, Certification and Disbursement of Title IV Funds.
Future Professional Financial Aid Rights and Responsibilities:
Financial Assistance is available to those who qualify through the Financial Aid Office.
The Future Professional has the right to ask the Institute:
What special facilities and services are available to future professionals with disabilities and how to request a reasonable accommodation.
It is the Future Professional’s responsibility to:
Your monthly loan payments are based on the total amount of the principal outstanding at the time you enter repayment, the length of the repayment term and the actual interest rate. The following table illustrates the repayment terms and estimated monthly payment amounts at various levels of indebtedness for Unsubsidized Direct Loans, Subsidized Direct Loans and Direct Plus. The payment amounts for Unsubsidized Direct Loans, Subsidized Direct Loans and Direct Plus loans do not account for any accrued interest.
Total Amount Due |
Loan at 7% |
Loan at 8% |
Loan at 9% |
|||
Monthly Payment |
Total Interest |
Monthly Payment |
Total Interest |
Monthly Payment |
Total Interest |
|
$ 10,000 | $ 116.11 | $ 3,933 | $ 131.33 | $ 4,599 | $ 126.68 | $ 5,201 |
$ 15,000 | $ 174.16 | $ 5,900 | $ 181.99 | $ 6,839 | $ 190.01 | $ 7,802 |
$ 20,000 | $ 232.22 | $ 7,866 | $ 242.66 | $ 9,199 | $ 253.35 | $ 10 402 |
$ 25,000 | $ 290.27 | $ 9,833 | $ 303.32 | $ 11,398 | $ 316.69 | $ 13,003 |
$ 30,000 | $ 348.33 | $ 11,799 | $ 363.98 | $ 13,678 | $ 380.03 | $ 15,603 |
$ 40,000 | $ 464.43 | $ 15,732 | $ 485.31 | $ 18,237 | $ 506.70 | $ 20,804 |
$ 50,000 | $ 580.54 | $ 19,668 | $ 606.64 | $ 22,797 | $ 633.38 | $ 26,005 |
$ 60,000 | $ 696.65 | $ 23,598 | $ 727.97 | $ 27,356 | $ 760.05 | $ 31,207 |
$ 70,000 | $ 812.76 | $ 27,531 | $ 849.29 | $ 31,915 | $ 886.73 | $ 36,408 |
$ 80,000 | $ 928.87 | $ 31,464 | $ 970.62 | $ 36,474 | $ 1,013.41 | $ 41,609 |
$ 90,000 | $ 1,044.98 | $ 35,397 | $ 1,091.95 | $ 41,034 | $ 1,140.08 | $ 46,810 |
$ 100,000 | $ 1,161.08 | $ 39,330 | $ 1,213.28 | $ 45,593 | $ 1,266.76 | $ 52,011 |
Online loan payment calculator: http://www.finaid.org/calculators/loanpayments.phtml
Requests for a paper copy of Total Transformation Institute of Cosmetology can be directed to the Admissions Office by submitting a request by phone, through the mail or electronically through email. Furthermore; a paper copy will be distributed to future professionals in attendance annually by the 31st of January and upon enrollment, in compliance with the Family Educational Rights and Privacy Act of 1974 (FERPA).
Contact Information for Assistance in Obtaining Institutional or Financial Aid Information:
Future professionals or interested parties needing assistance with consumer information or Admissions, please contact Judy Alonso at judy@ttioc.com or by calling 512.392.8862. Those wanting Financial Aid assistance, please contact Cassandra Monahan at cassandra@ttioc.com or by calling 512.392.8862.