Paying for School

Request Information:

By clicking ‘Submit,’ this constitutes your written consent to be emailed, called and/or texted by Phagans’ Cosmetology Colleges at the number(s) you provided, regarding your interest in cosmetology school.

Our financial aid advisors will help you find the options available to you.

Students enrolled in most programs are eligible to apply for federal financial assistance through Title IV of the Higher Education Act, which includes federal grants (which do not have to be repaid) and low-cost federal loans (with payments beginning after you have been out of school for six months).  Financial Aid is available for those who qualify and may be subject to the terms of the scholarships, loans or grants applied for. There are so many affordable ways to finance your future. Let us help you explore the option that works best for you.

There are many financial aid options, it’s easy to get overwhelmed, and that’s why our staff is waiting to help you understand your options. Fill out the request information form on this page to talk with an admissions specialist today.


Grants and Loans

Financial Aid is available for those who qualify and may be subject to the terms of the scholarships, loans or grants applied for.

Click to access the FAFSA


For all Federal Financial Aid programs, you begin by filling out the FAFSA – a free application that you can access by clicking the button below.  We recommend that you start your FAFSA right away because they can take a couple days to process.  In order for us to help you with financial planning for college, we’ll need the information from your FAFSA.

Federal Pell Grant (PELL)

Pell grants are the foundation of federal student financial assistance to which aid from other federal and nonfederal sources might be added. These grants are generally awarded to undergraduate students and the award amounts can change yearly. Unlike loans, grants are not repaid unless, for example, you withdraw from school prior to the planned program completion date. All federal grants are awarded to students with financial need. The amount of your Federal Pell Grant depends on your cost of attendance, expected family contribution, enrollment status (full or part time) and whether you attend for a full academic year or less. For more information visit Federal Pell Grant.

Federal Supplemental Educational Opportunity Grant (FSEOG)

This type of grant is awarded to undergraduate students with exceptional financial need-those with the lowest Expected Family Contribution (EFC). Federal Pell Grant recipients receive priority for FSEOG awards which range from to per award year. The amount of your award will be determined by the school’s Financial Assistance Office. For more information visit Federal Supplemental Educational Opportunity Grant.

William D. Ford Federal Direct Loan Program

Student loans, unlike grants, are borrowed money (monies) that must be repaid with interest. Loans made through this program are referred to as Direct Loans. Eligible students and parents borrow directly from the U.S. Department of Education. For more information visit William D. Ford Federal Direct Loan Program. There are three types of loans in the program:

  • Subsidized Stafford Loan– A student can borrow this type of loan to cover some or all of their school expenses. The U.S. Department of Education pays the interest while you’re in school. The amount of the loan cannot exceed a student’s financial need. For more information visit Subsidized Stafford Loan.
  • Unsubsidized Stafford Loan– A student can borrow this type of loan to cover some or all of their school expenses. The U.S. Department does not pay interest on subsidized loans. A student is responsible for paying the interest that accrues on the loan from the time the loan is disbursed until it’s paid in full. The fixed interest rate of 6.8 percent can be paid while attending school, during a period of deferment or forbearance or it can be accrued and the interest added to the principle amount of the loan. For more information visit Unsubsidized Stafford Loan.
  • PLUS Loans– Parents of dependent students can borrow from the PLUS Loan program. The terms and conditions of this type of loan include a requirement that the applicant not have an adverse credit history, a repayment period that begins on the date of the last disbursement of the loan and a fixed interest rate of 7.9 percent for the Direct Loan. For more information visit PLUS Loans.

Veterans Education Benefits Announcement:

First and foremost, thank you for your service to our country.  This announcement is for new students who are applying for enrollment after July 1st, 2022.  We have made the difficult decision to no longer seek certification approval to participate in the Veterans Benefits programs offered by the Veterans Administration and Department of Defense for new students.  The process to remain approved for the veterans education benefits has proven to be too overly complex and burdensome given the size of our schools and our very small administrative teams.  We welcome you to meet with our financial aid advisors to see if there are other forms of aid you qualify for to use to pay for school costs.

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