Financial Aid 101: Making Your Beauty School Dream Affordable

You can make your beauty education more affordable by combining federal grants, federal student loans, scholarships, and payment plans through Crave Beauty Academy. Our financial aid team helps you navigate every step, starting with the Free Application for Federal Student Aid (FAFSA®), so you understand your options before you commit to a program. Whether you’re headed to our Wichita, Kansas campus or our St. Louis area campus in Ballwin, Missouri, you have a dedicated financial aid advisor in your corner from your first application to your award letter.

Pursuing a career in beauty is more than just learning to style hair or perfect a skincare routine, it’s about transforming your passion into a lifelong profession. At Crave Beauty Academy, we believe that no aspiring beauty professional should let financial worries stand in the way of their dreams.

In this guide, we’ll break down everything you need to know about financial aid. Whether you’re eyeing our cosmetology, esthetics, nail technology, or instructor programs, this blog is here to help you take the next step toward your future with confidence.

Why Financial Aid Matters

Let’s face it, beauty school is an investment. But like any solid investment, the return can be life-changing. From opening your own salon to becoming a skincare expert or makeup artist, your Crave Beauty Academy education can unlock doors to a fulfilling and creative career. Still, the cost of tuition, kits, supplies, and fees can feel overwhelming. That’s where *financial aid comes in.

At Crave, we offer guidance and support to help you explore your options and find the best path to fund your education — because we want you to focus on learning, not stressing about money.

What Financial Aid Options Are Available at Crave Beauty Academy?

Crave Beauty Academy is approved to offer federal financial aid to those who qualify. We offer a mix of federal grants, loans, scholarships, and payment plans to help students manage the cost of education.

Let’s take a closer look at your options:

1. Federal Pell Grants

• What it is: A Pell Grant is a form of need-based financial aid that does not have to be repaid.
• Who qualifies: Students with significant financial need, as determined by the FAFSA® (Free Application for Federal Student Aid).
• How much you can receive: The amount varies each year and is based on your financial situation, but for 2024-2025, the maximum award is $7,395 per year.

Why it’s helpful: It’s essentially free money to go to school, and it can significantly reduce your out-of-pocket expenses.

2. Federal Student Loans

Federal student loans are available to most students, regardless of financial need. Unlike private loans, they come with fixed interest rates and flexible repayment options.

Types of federal loans offered:

• Subsidized Loans: Available to students with financial need. The government pays the interest while you’re in school.
• Unsubsidized Loans: Not based on financial need. You are responsible for the interest, even while in school.
• PLUS Loans: For parents of dependent students. These help cover any remaining tuition and expenses not covered by other aid.

Repayment typically begins 6 months after graduation or when you drop below half-time enrollment.

3. Scholarships

At Crave Beauty Academy, we participate in a variety of scholarship programs, both internal and external. Scholarships are a great way to reduce or eliminate the need for loans, and they don’t need to be paid back.

Types of scholarships may include:

• High school graduate scholarships
• Transfer student awards
• Beauty industry association scholarships
• Crave-specific scholarships based on merit, need, or career goals

Be sure to ask your Financial Aid Office for current opportunities or visit our Financial Aid page for details.

4. Veteran Education Benefits

If you or a family member has served in the military, you may be eligible to use VA benefits, such as the GI Bill®, to cover part or all of your tuition. Crave Beauty Academy proudly supports veterans and their families on their journey into the beauty industry.

How to Apply for Financial Aid: Step-by-Step Guide

We know that financial aid can sound complicated, but we’re here to walk you through it. Here’s how to get started:

Step 1: Fill Out the FAFSA®

The FAFSA® (Free Application for Federal Student Aid) is your gateway to federal grants, loans, and some scholarships.

• Visit studentaid.gov
• Use the Crave Beauty Academy school code for the campus you’re applying to:
  • Wichita, KS campus: 026031
  • Ballwin, MO campus: E02186
• You’ll need your Social Security number, income information (or your parents’, if you’re a dependent), and other basic info.

Pro Tip: Submit your FAFSA® early — it opens October 1 each year, and some aid is first-come, first-served.

Step 2: Schedule a Financial Aid Appointment at Crave

Once your FAFSA® is processed, one of our friendly financial aid professionals will help you review your Student Aid Report (SAR), answer your questions, and build a personalized financial aid package.

This is your chance to:

• Learn what grants or loans you qualify for
• Ask about scholarships or payment plans
• Get help comparing costs and making a plan

Step 3: Review and Accept Your Aid Package

After discussing your options, you’ll receive a financial aid award letter outlining the grants, loans, and other aid you’re eligible for. From here, you can accept or decline different components based on your needs.

Step 4: Complete Loan Entrance Counseling and MPN

If you decide to take out federal loans, you’ll need to:

• Complete Entrance Counseling (online)
• Sign a Master Promissory Note (MPN) — your agreement to repay your loan

Both steps are completed at studentaid.gov and are required before funds can be disbursed.

Tips to Maximize Your Financial Aid

Want to get the most out of your financial aid? Keep these tips in mind:

Apply Early

The sooner you apply, the better your chances of getting maximum aid, especially when it comes to limited scholarship or grant funds.

Stay Organized

Keep copies of your FAFSA®, award letters, and correspondence. Set calendar reminders for deadlines.

Be Honest on the FAFSA®

Make sure your information is accurate. Mistakes or omissions can delay your application or reduce your aid.

Research Scholarship Opportunities

Check out industry-specific organizations like:

• Beauty Changes Lives
• Professional Beauty Association (PBA)
• ACE Grant Program
• Local community foundations

Don’t Be Afraid to Ask Questions

The financial aid process can feel confusing, but you’re not alone. Crave’s financial aid advisors are here to help you understand your options and build a plan that works for you.

Frequently Asked Questions About Financial Aid

Q: Do I need good credit to apply for federal student loans?
A: No. Federal Direct Subsidized and Unsubsidized Loans do not require a credit check.

Q: Can I receive financial aid if I attend part-time?
A: Some aid options are available to part-time students, but your award amounts may be reduced. Speak with our Financial Aid Office to find out what you qualify for.

Q: Can I use financial aid for beauty kits and supplies?
A: Yes! Financial aid can help cover educational expenses beyond just tuition, including kits, books, and even some living expenses.

Q: What happens if I withdraw from the program?
A: If you withdraw early, your financial aid may be adjusted. You may be required to return a portion of federal loans or grants. Our team will walk you through the implications if this becomes necessary.

Crave Beauty Academy: Where Passion Meets Possibility

Whether you’re pursuing cosmetology, esthetics, nail technology, or instructor training, we’re here to support you every step of the way — and that includes making your education financially accessible.

Our financial aid team is ready to answer your questions, guide you through the process, and help you find the resources you need to succeed.

Ready to Get Started?

Here’s what to do next:

1. Visit our Financial Aid page
2. Fill out the FAFSA®
3. Schedule your Crave Financial Aid appointment
4. Apply to your program of choice

We know that investing in your future can feel overwhelming. But at Crave, your dream of a beauty career is within reach — and financial aid can help you get there.

Contact Us Today
Have questions about your specific financial situation or need help applying for aid? Don’t hesitate to reach out to our admissions team or schedule a one-on-one consultation with a financial aid advisor. We’re here to support you every step of the way.

*financial aid is only available to those who qualify