How To Pay For Beauty School

If you’ve chosen to attend beauty school, it is the first step towards pursuing a career in the beauty industry. To reach your career goals, you have to finish beauty school, which means you have to pay for beauty school. Don’t worry if paying for beauty school sounds intimidating—it doesn’t have to be!

At Renaissance Academie, we understand how daunting it can be to think about the financial aid and scholarship process. So, to make things simpler for incoming and current beauty students, we’ve decided to compile a detailed guide that helps you understand your beauty school financing options. Let’s talk about paying for beauty school, here.

Understanding the Cost of Beauty School

Before you attend beauty school, you need to be familiar with what costs are involved. Although each school will have different costs, at most schools, you’ll be responsible for things such as tuition, supplies, and other fees. At Renaissance Academie, students will have to pay for supplies, fees, and tuition, and the cost of tuition varies depending on what program you are enrolled in.

Types of Financial Aid

Once you’ve figured out how much your beauty school education will cost, you need to figure out how you’re going to finance it. There are many different ways you can pay for beauty school, here are a few you should know:

Scholarships: Need- and merit-based scholarships are available for students. More often than not, students will have to apply for scholarships, but they are often competitive because scholarships cover some of the cost of your tuition and do not need to be paid back. Examples of scholarships include the Great Clips, Milady Rise and Sports Clips scholarships.

Grants: A grant is another way students can pay for college, and grants—like scholarships—do not need to be paid back after graduation. Grants can be awarded by the United States government or the state of Utah. We’ll talk more about how to apply for federal grants, later.

Loans: Loans need to be paid back after graduation, but if you cannot find another way to finance your education, they’re a good option. Students can choose between federal loans and private loans—though, private loans typically have higher interest rates when compared to federal loans. Keep that in mind when you think about repayment. Our Student Aid adviser can assist with any loan questions you may have.

Payment Plans: Many students pay their own way through college. Whether that means they work a job while going to school, get help from family, or use funds from a 529 plan, if you’re not going to utilize scholarships, grants, or loans, we have flexible payment plans to ensure your schooling is paid for before you graduate. 

How to Apply for Financial Aid

The first step to determine your eligibility for Federal Student Aid is to complete the FAFSA. (Free Application for Federal Student Aid). To apply, simply go to the FAFSA website to create a free account. If you’re under the age of 24 and not declared an independent (if you’re a dependent), you’ll have to enter in basic biographical information, your own tax information, and your parents’ tax information.

If you’re over the age of 24 or declared an independent, you will provide basic biographical information in addition to your own tax information—no parents’ information will be necessary.

Once you’ve applied for the FAFSA, you should look into applying for scholarships. To be the most competitive scholarship applicant you can be, you need to ensure you follow all the instructions for each scholarship, turn the scholarship application in on time, and write the best essay possible. Always be sure that your passion for the beauty industry comes across in your scholarship essays, and be sure to run your application by readers you trust. We recommend applying to as many scholarships as are available as the more you apply to, the better chance you have at getting one. 

It is also important to remember that financial aid through the federal government is only available to those who qualify. 

Additional Funding Options 

Grants, loans, and scholarships are the most common ways that students pay for college, however, that doesn’t mean those are your only options. If you’re struggling to find ways to finance your beauty school education, you might try crowdfunding. Create a GoFundMe or a similar platform and encourage community members and loved ones to donate to your education.

Oftentimes employers or local companies will sponsor you to go to school. Finally,if none of these methods work out, another way you could finance your beauty school education is by self-pay. This may require you to work in addition to going to school. Although this might be a more challenging way to get through beauty school, it does have some benefits, like the fact you’ll get an education tax credit (the student will get the credit if they are not a dependent, and their parents will get an education tax credit if the student is a dependent). Also, you will graduate without any debts to repay!

Budgeting for Beauty School

Whether you’re paying for beauty school yourself or you’ve secured scholarships to cover the cost of tuition, proper budgeting will ensure that you can afford other necessities, including: housing, transportation, and food. How you budget will depend on your specific lifestyle and needs, but it’s always a good idea to write down the necessary expenses you have each month so that you know how much you have to spend in other, more flexible categories—like clothes, dining out, and miscellaneous costs.

There are many different apps and online budging websites that help to track and manage expenses.  There are a few options including the apps on this list.

Ready to Begin Your Beauty School Journey? Choose Renaissance Academie and Let Our Experts Help You Find the Right Finance Option.

We’ve discussed a lot of information about how to pay for your beauty school education. Everyone’s financial situation is different, and there are a multitude of options available to you. The good news is, you don’t have to navigate this process alone. At Renaissance Academie, we have experienced and knowledgeable staff members who are dedicated to helping you find the best solutions for your situation. For more information about Renaissance Academie and financial aid options, contact us.

Resources:

Renaissance Academie Financial Aid Page—https://www.race.edu/financial-aid-and-payment-plans/

FAFSA Page—https://studentaid.gov/h/apply-for-aid/fafsa

Scholarship Database—https://finaid.org/scholarships/