Financial Aid, Graduation & Licensing

the Financial Aid Administrator.

Financial Aid Eligibility

Eligibility is determined using a formula established by the U.S. Department of Education to evaluate the information reported on the FAFSA. The formula produces a Student Aid Index (SAI) that determines what Federal Financial Aid a student may be eligible to receive.

Federal Pell Grant

A Federal Pell Grant, unlike a loan, does not have to be repaid. Pell Grants are awarded only to undergraduate students without a bachelor’s or professional degree.

Direct Subsidized Loan

This loan is awarded based on the financial need determined by the institute’s cost of attendance minus the student’s Student Aid Index (SAI) and scholarship and grant awards. The federal government pays interest on the loan (“subsidizes” the loan) until a student begins repayment and during authorized periods of deferment. Students will receive a six-month grace period after which they are no longer enrolled to begin loan repayment.

Direct Unsubsidized Loan

This loan is not awarded based on need. Students are charged interest from the time the loan is first disbursed until it is paid in full. Students receive a six-month grace period after they are no longer enrolled to begin repayment of their loan. However, students may pay the interest charges during their enrollment or grace period.

Federal Plus Loan

This program enables parents with good credit histories to borrow to pay the education expenses of each dependent undergraduate student/child. The yearly limit on the PLUS Loan equals the cost of attendance minus any other financial aid received. Repayment of this loan begins within 60 days after the loan is fully disbursed. A parent may request an in-institute deferment to delay payment while their child is in attendance at the institutes and a 6-month grace period after the student is no longer enrolled. If a parent is denied on a PLUS Loan, students may be awarded additional Federal Direct Direct Unsubsidized Loans.

Scholarships

The Institute of Beauty and Wellness does not offer scholarships. The Institute of Beauty and Wellness may provide a tuition discount to all students in a specific program of study who start on a specific date. Students who graduate from a program will receive a $500 tuition discount for any additional program that students enroll in.

Graduation &

Licensing Requirements

Graduation Requirements

To receive a diploma from The Institute of Beauty and Wellness, a student must: 1. Complete the required amount of program hours. 2. Complete all projects. 3. Meet the satisfactory progress requirement of 80% or above for GPA and 90% or above for attendance. 4. Student must pass their final theory and practical exam with an 80% or above. 5. Pay all tuition obligations.

Note: Please be advised that other states may require additional hours of instruction for licensing eligibility. Please meet with admissions for the appropriate information.

Licensing Requirements

To receive a license in the state of Illinois, a cosmetology, esthiology, Educator training, or manicuring student is required to:

1. Complete graduation requirements in the course of instruction. 2. Successfully complete the skill certification examination. 3. Successfully completed the written theory and state law examination conducted by Continental Testing Services, Inc. (CTS) for cosmetology, esthiology, instructor training, and manicuring and by the State of Illinois.

Student Services

Housing

The Institute of Beauty and Wellness can assist students in finding roommates and suitable housing, though The Institute of Beauty and Wellness does not own or operate housing facilities.

Placement

The Institute of Beauty and Wellness supports students in starting professional careers across the country through a wide network of salons, spas, and health clubs. Our offerings include career fairs and self-promotion training to equip students with essential knowledge. While we facilitate placement services to assist students in finding job opportunities, we do not take responsibility for securing employment. It is important to note that the Institute of Beauty and Wellness is primarily an educational institution and does not guarantee job placement.

Academic And Individual Counseling

The Institute of Beauty and Wellness offers academic counseling to all students. If you face difficulties meeting the minimum performance standards and course requirements set by the Institute of Beauty and Wellness and the State of Illinois Department of Financial and Professional Regulation (IDFPR), we provide