Your Education Goals Are Within Reach With the Help of Financial Assistance
The thought of taking out student loans can be unsettling, but when broken down into payments, financing Beauty School can be totally manageable. Plus, you’ll see it’s definitely worth the investment when you feel the immense pride that starting your beauty career brings.
We offer federal financial aid to students who qualify, and we’re prepared to help you understand and obtain the best financing options. At Penrose Academy, we know your education is your future and that extraordinary careers start at extraordinary schools, so rest assured — we’ll support you throughout the process.
Financial Aid is meant to assist students with educational and cost-of-living expenses. Funds are awarded primarily on the basis of financial need,* and are coordinated to supplement parental support, student employment earnings and savings.
This financial need determines the amount of aid. Every student, family, and financial aid package is different, but the programs available to our students include Pell Grants, Federal Stafford Loans, and Federal Parent PLUS Loans.
Financial Aid Questions?
Our Financial Aid Team is dedicated to helping you find the best financial aid options available. Have a question?
How to Apply
- Visit our campus, complete your application and get accepted at Penrose Academy.
- Create an FSA ID, or update an existing outdated PIN, at https://fsaid.gov. This step is critical as the FSA ID gives you access to Federal Student Aid’s online systems and can serve as your legal signature.
- Complete the FAFSA at www.fafsa.ed.gov. Our school code is 041753. Online instructions will guide you through the process.
- Complete the Federal Direct Master Promissory Note (MPN). The MPN website allows you to complete and sign your MPN online. The process for completing this MPN is really easy. You’ll need your FSA ID to begin the MPN process.
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What is a FAFSA? And, how often do I have to submit?
FAFSA stands for the Free Application for Federal Student Aid. By completing this form, you’re submitting your required financial information for processing, so we can determine your eligibility for financial aid. You must reapply for federal and state aid each year. To submit, go to www.fafsa.ed.gov.
What is the difference between a grant and a loan?
While both are legitimate forms of financial aid, a grant does not require repayment. A loan requires repayment over time.
Where is the Financial Aid office at Penrose Academy?
The Financial Aid office is located inside our Admissions Department. It is staffed Tuesday through Saturday, 8 a.m. to 5 p.m.
What is Penrose Academy’s Federal Student Code?
Penrose Academy’s Federal Student Code is 041753.
Have More Questions?
* Financial Need – Federal Student Aid is awarded on the basis of financial need. Financial need is the difference between your cost of education at Penrose Academy and an amount (determined by the government) that you and your family are expected to contribute towards your education. A standard formula used for all applicants determines this amount, which is called the Expected Family Contribution (EFC). The information you report on your Free Application for Federal Student Aid Application (www.fafsa.ed.gov) is used to calculate your contribution. The amount remaining after subtraction of the expected contribution from your cost of education is considered your financial need.