Monday - Thursday: 8:30 a.m. - 4:00 p.m.
Friday: 8:30 a.m. - 3:00 p.m.
(844) 873-1370
(504) 872-0686
info@parkplacebarberschool.edu

Steps to Apply

If applying for financial assistance to attend Park Place Premier Barber School please complete the following steps to ensure a smooth process. 

  1. Obtain your FSA ID_- a username and password. You can create one at https://fafsa.ed.gov
  2. Complete the Free Application for Federal Student Aid aka the FAFSA by utilizing the direct website at WWW.FAFSA.ED.GOV on or after January 1, 2015. Submit any financial aid documents by the last Friday of the month, to meet Park Place Premier Barber School's filing deadline. Before submitting the FAFSA be sure you included the federal school code on the FAFSA: 042346.
    • Use your income/taxes to complete. If applicable, complete parent information and have parent sign.
    • SIGNED 1040 Tax Form for you and/or your spouse from the year 2014.
    • W2 forms or Schedule C Form for you and/or your spouse from the year 2014.
    • Documentation of any untaxed income you may have received such as:   Welfare, Disability, Child Support, Unemployment, etc.
  3. Review Your Student Aid Report (SAR)  and respond to any messages that may appear regarding your application.
  4. If Your FAFSA is Selected For Verification you will be provided with instructions and documents to complete and return to Park Place Premier Barber School. Provide your documents promptly as FAFSA verification must be completed before financial aid can be awarded.
  5. Completion of the FAFSA will produce an ISIR(Institutional Student Information Report) which will be sent electronically to this School and will allow the financial aid officer to produce an individualized Financial Aid Award Letter for the applicant; this FAA Letter will explain what aid is available to that applicant in the forms of Loans, Grants, Scholarships, etc.  The amounts noted on the FAA are gross amounts and do not include fees taken from the lender.
  6. FA Disclosure Form Please read this form, sign & return to the school’s FA officer. Any questions should be addressed with the School Administrator.
  7. Student Loan Entrance Counseling
    1. This process is MANDATORY, and must be completed.

If the Parent is applying for the PLUS loan, Parental Loan for Undergraduate students.

    1. Complete the Entrance Loan Counseling on-line at the Department’s website www.StudentLoans.gov
    2. Please print the “confirmation page” that you have completed this process and submit to the FA Officer.
  1. Master Promissory Notes are to be completed electronically/on-line.  Please go to:  https://www.StudenLoans.gov   complete an electronic master promissory note. You can take this step now even if you have not yet received a financial aid award notice indicating your are eligible for a federal student loan. Parents using the Parent Loan for Undergraduate Students (PLUS) must also complete a master promissory note.
    1. CONFIRM THAT YOU have e-SIGNED YOUR MPN PLEASE
    2. After you have the opportunity to “PRINT” your MPN, there is a “SUBMIT” section.  YOU MUST SUBMIT your MPN or all your work was for nothing and the MPN does not exist.
    1. Please print the “confirmation page” that you have completed this process and submit to the financial office.
YOU MAY ALSO BRING: Registration Fees

Financial Aid Disclosures

To help you finance your education the US Department of Education offers various financial aid programs to those who qualify.

Available Financial Aid Programs

PARK PLACE PREMIER BARBER SCHOOL participates in the following Financial Aid programs:

  1. Pell Grant    (gift aid)
  2. Direct Loans
    1. Stafford Loans subsidized & unsubsidized
    2. Parent PLUS parental loans for undergraduate students (This is granted based on FICO)
  3. Veterans Affair Benefits (G.I. Bill/Post 911)
  4. Workforce Investment Act (WIA)

Applying for Aid

To benefit for the aid types noted above, the FAFSA (Free Application for Federal Student Aid) must be completed by the student (independent) and parent (dependent) on-line @WWW.FAFSA.ED.GOV

Awarding of Aid

Pell Grant:
A distinguished feature of the Pell Grant Program is its control concept of ENTITLEMENT, which guarantees that a student who demonstrates NEED will receive a grant based on that need and on the cost of education at the school they choose to attend.

Direct Loan:
The Direct program enables students to borrow from the US Department of Education at a low interest rate to meet educational expenses.  The Department may choose to whom they lend, within Stafford Loan eligibility guidelines.  As an undergraduate you may borrow up to the cost of attendance at your school less other financial aid you receive, if you are determined to be “Independent Status”.

PLUS Loan:
Eligibility is based upon FICO scores.
General Eligibility

  1. The applicant is a US citizen or an eligible non-citizen.
  2. The applicant can prove need.  Need is the difference between the cost of education and the amount you or your family can afford to pay.  Need is determined by the information that is supplied on the FAFSA.
  3. The student is making satisfactory progress toward completing their course of study. Refer to the school’s SAP guidelines.

Frequency of Payments
Eligibility for many financial aid programs are based in part on an academic year. Park Place Premier Barber School defines an academic year as :
A year of at 26 weeks during which a full-time student would complete 900 clock hours.
Loans and Grants are disbursed to the school at:
(AY1) 30 Days and 0-450 clock hours and 13 weeks., 451-900 clock hours and 13 weeks.
(AY2) 901 clock hours and 1200 clock hours

Refunds Due to Title IV Programs
The school will complete a R2T4 (return to title 4) Form, to determine the refund amount to be returned to the Title IV programs if needed, this is according to Department of Education according to Federal Guidelines.  When the amount which must be returned has been determined, the School will first return all sums to the Stafford Loan Program, then the Pell Grant Program.

The school will determine any remaining tuition refund amount in accordance with the Institutional Refund Policy outlined within the School Catalog.  If any refund is due to the student a check will be disbursed to that student in their name. Student will be notified by Post office mail/and or Emailed.

Applicant/Student Rights
You have the right to ask the school:

  • The names of its accrediting and licensing organizations.
  • You have the right to ask for a copy of the documents describing the institution’s accrediting or licensing.
  • About its program, it’s instructional, laboratory and other physical facilities, and its faculty.
  • If the school advertises its job placement rates as a means of attracting students – what information it has to back up its claims.
  • What the cost of attending is and its policy regarding refunds to students who drop out. (see above Refunds Due To Title4 Programs)
  • What financial assistance is available, including information on all federal, state, local, private and institutional financial aid programs?
  • Who its financial aid personnel are, where they are located and how to contact them.
  • What the procedures and deadlines for submitting applications for each available financial aid program are.
  • How it selects financial aid recipients.
  • How it determines your financial aid needs.  The process includes how costs for tuition and fees, travel, books, supplies, personal and miscellaneous expenses are considered in your cost of education.  It also includes the resources considered in calculating your need such as parental contribution, other financial aid, assets, etc.
  • How much of your financial need, determined by the school, has been met.
  • How and when you’ll receive your financial aid.
  • To explain each type and amount of assistance in your aid package.
  • What the interest rate is on any student loan you have, the total amount you must repay, the length of time you have to repay, when you must start repaying and what cancellation or deferment (postponement) provisions apply.
  • To reconsider your aid package, if you believe a mistake has been made, or if your enrollment or financial circumstances have changed.
  • How the school determines whether you are making satisfactory progress and what happens if you are not.

Applicant/Student Responsibilities
It is your responsibility to:

  • Review and consider all information about a school program before you enroll.
  • Pay special attention to your application for student financial aid, complete it accurately, and submit in time to the right place.  Errors can delay or prevent you from receiving aid.
  • Know all deadlines for applying or re-applying for aid, and meet them.  Provide all documentation, corrections, and or needed information requested by either the financial aid office or the agency to which you have submitted your application.
  • Notify your school of any information that has changed since you applied for financial aid.
  • Read, understand and keep copies of all forms you were asked to sign.
  • Repay the student loans you have.  When you sign a promissory note you are agreeing to repay your loan debt.
  • Attend an exit interview via NLSDS.ed.gov if you have taken out Loans.
  • Notify your school of any change in your name, address or attendance status.  If you have a loan you must notify your lender of these changes.
  • Understand the school’s refund policy.  If you drop out of school within a short time after you start, you may be able to get a part of your educational expenses returned to you.  But after a certain date, you will not receive any money back.  Check with your school to find out what expenses you may have to pay if you drop out/withdraw/terminate.
      • If a student is convicted of a state or federal offense involving the possession or sale of an illegal drug that occurred while the student was enrolled in school and receiving Title IV aid , the student must be aware that federal financial aid eligibility will be suspended or cancelled for a period of time which will be determined by the USDE and executed by the school.

Keep Your Contact Information Current
Make sure you receive important messages from Park Place by notifying us of ANY changes  in your information promptly to the school Financial Aid Office.

I HAVE READ AND UNDERSTAND THE CONSUMER INFORMATION AND SATISFACTORY PROGRESS POLICY.


Financial Aid FAQs

What is financial aid?

Financial aid includes any form of financial assistance that helps you pay for college. This includes grants, scholarships, work-study and student loans. In any given academic term.

Q: What is a Pell Grant?

A: A Federal Pell Grant, unlike a loan, does not have to be repaid. Federal Pell Grants usually are awarded only to undergraduate students who have not earned a bachelor's or a professional degree. (In some cases, however, a student enrolled in a post baccalaureate teacher certification program might receive a Federal Pell Grant.) You are not eligible to receive a Federal Pell Grant if you are incarcerated in a federal or state penal institution or are subject to an involuntary civil commitment upon completion of a period of incarceration for a forcible or no forcible sexual offense.

Q: How much aid can I receive?

A: Amounts can change yearly. The maximum Federal Pell Grant award is $5,645 for the 2013–14 award year (July 1, 2013 to June 30, 2014). For the 2014–15 award year (July 1, 2014 to June 30, 2015), the maximum award will be $5,730. The amount you get, though, will depend on

  • your financial need,
  • your cost of attendance,
  • your status as a full-time or part-time student, and
  • your plans to attend school for a full academic year or less.

You may not receive Federal Pell Grant funds from more than one school at a time

Q: I heard I might get a larger Federal Pell Grant if my parent died in Iraq or Afghanistan. Is that right?

A: It depends. If your parent or guardian was a member of the U.S. armed forces and died as a result of military service performed in Iraq or Afghanistan after the events of 9/11, you may be eligible for additional Federal Pell Grant funds if, at the time of your parent’s or guardian’s death, you were

  • less than 24 years of age or
  • Enrolled in college or career school at least part-time.

If you meet these requirements and are eligible to receive a Federal Pell Grant, your eligibility will be calculated as if your Expected Family Contribution (EFC) were zero. Payments are adjusted if you are enrolled less than full-time.

If you meet those requirements but aren’t eligible to receive a Federal Pell Grant due to your EFC being too high, you might be able to get an Iraq and Afghanistan Service Grant.

Q: When will I receive my financial aid?

A: Generally, your grant or loan will cover a full academic year and your school will disburse (pay out) your money in at least two payments called disbursements. In most cases, your school must pay you at least once per term (semester, trimester, or quarter). Schools that don’t use traditional terms such as semesters or quarters usually must pay you at least twice per academic year—for instance, at the beginning and midpoint of your academic year.

  • If you’re a parent taking out a Direct PLUS Loan to help pay for your child’s education expenses, your loan funds will be disbursed according to the same type of schedule (usually, at least twice per academic year).
  • If you’re a first-year undergraduate student and a first-time borrower, you may have to wait 30 days after the first day of your enrollment period (semester, trimester, etc.) for your first disbursement. Check with your school to see whether this rule applies there.
  • If you’re a first-time borrower of a Direct Subsidized Loan or a Direct Unsubsidized Loan, you must complete entrance counseling before you receive your first loan disbursement. Similarly, if you are a graduate or professional student taking out a Direct PLUS Loan for the first time, you must complete entrance counseling before receiving your first disbursement. If you are a parent taking out a Direct PLUS Loan to help pay for your child’s education, you will not be required to participate in entrance counseling.

Q: How will I receive my financial aid?

A: It depends on what type of aid you’ll be receiving—grants, student loans, work-study, or parent loans.

Grants and Student Loans

Typically, the college first applies your grant or loan money toward your tuition, fees, and (if you live on campus) room and board. Any money left over is paid to you for other expenses. You might be able to choose whether the leftover money comes to you by check, cash, a credit to your bank account, or another method.

If your loan is disbursed but then you realize that you don’t need the money after all, you may cancel your loan within 120 days of the disbursement, and no interest or fees will be charged.

Q: What is a Parent Plus Loan?

A: The Federal PLUS Loan is a loan borrowed by a parent on behalf of a child to help pay for tuition and school related expenses at an eligible college or university, or by a graduate student for graduate school. The student must be enrolled at least half time, and the parent or graduate student must pass a credit check in order to receive this loan. For more information, visit Graduate PLUS Loans. About Parent PLUS Loans the primary benefit of the PLUS Loan is that a parent can borrow a federally guaranteed low interest loan to help pay for their child's education. A Federal PLUS Loan allows a parent to borrow the total cost of undergraduate education including tuition, room and board, and any other eligible school expenses, minus any aid the child is receiving in their name. Here's a brief graphical look at where PLUS loans fit in the big picture of a cost of a college education. - See more at: http://www.parentplusloan.com.

PLUS loans, along with private student loans, can help fill the gap after Stafford loans and scholarships.

Q: Do I need to fill out a FAFSA to get a PLUS Loan?

A: Typically, yes. It is not required at all schools, but it is strongly recommended. The PLUS Loan is a federal student loan and therefore must be "certified" (approved) by the college's or university's financial aid office. If your college or university requires the FAFSA for all students, they will not certify a PLUS Loan without a FAFSA Application on file.

Q: What is the interest rate?

A: The interest rate for a Parent Plus loan is 7.21% fixed. Interest accrues on this loan when it is disbursed to the school. You may receive a 0.25% repayment interest rate credit when payments are set up for automatic debit from a bank account. If you are a parent with PLUS Loans and you want to lower your monthly payments, you may consider consolidating your PLUS Loans after the final disbursement for each academic year.

Q: What are the fees for a PLUS Loan?

A: Parents are required to pay a 3% origination fee. A federal default fee of 1% may also apply. These fees are deducted from the principal at each disbursement

Q: When my child is done with school, can I transfer the PLUS Loan to them?

A: No. The PLUS Loan is a Parent loan, taken out in the parent's name — the student is not the borrower and the loan cannot be transferred. If, as a parent, you are interested in a loan that has such a feature, you'll need to resort to private student loans. These loans are in the student's name, and depending on the lender, may have a cosigner release option. After a certain number of consecutive on time payments, the parent (as a cosigner) can apply to be released from the loan, making it entirely the student's obligation.

Q: How much can I borrow through the PLUS loan program?

A: The Federal PLUS loan has an annual limit of up to the full cost of attendance (including tuition, fees, room and board, books and supplies) minus other aid received. There is no aggregate loan limit. Families should exhaust eligibility for gift aid (money that does not need to be repaid) before relying on loans. When choosing a loan, it is best to borrow first from the Federal Stafford loan, which has a lower interest rate and fees than the Federal PLUS loan, and more flexible repayment terms.