FINANCIAL AID

Step 2: Complete a FAFSA Application

Every student looking to qualify for Federal Pell Grants and Federal Direct Stafford Loans must complete a FAFSA application. To determine which FAFSA applications you will need to submit please review the table under the “Changes to the Financial Aid Process” section of this webpage below. Once you determine which FAFSA applications you need to complete go to www.studentaid.ed.gov/sa/fafsa and log in with your newly created FSA ID.

How to Determine Which FAFSA to Complete

Below is a helpful chart to help you determine which FAFSA applications you will need to complete during your enrollment at Summit Salon Academy – Gainesville.

Items Needed to complete FAFSA Application

1. Summit Salon Academy – Gainesville’s School Code: 041631
2. Your personal information:
   1. Full legal name
   2. Driver’s license or Government Identification card
   3. Social Security Number
   4. Tax information from the appropriate tax year (from table above)
3. Your parent’s personal information: (ONLY if the student is under the age of 24, not married, and does not have children that live in the household and the student supports them)
   1. Full legal names
   2. Social Security Numbers
   3. Tax information from the appropriate tax year (from table above)

Below are instructional videos on how to complete your FAFSA application:

Step 4: Complete Entrance Counseling

Entrance counseling only needs to be completed by students interested in taking a Federal Direct Student Loan and can only be completed once your FSA ID has been validated by USDOE and the Social Security Administration (Approximately 3 days after creation of your FSA ID).

If you have not previously received a Direct Loan or Federal Family Education Loan (FFEL), the Federal Government requires you to complete entrance counseling at Studentloans.gov to ensure that you understand the responsibilities and obligations you are assuming. For information on completing loan counseling click the following button:

Step 5: Complete Master Promissory Note

A Master Promissory Note only needs to be completed by students interested in taking a Federal Direct Student Loan and can only be completed once your FSA ID has been validated by USDOE and the Social Security Administration (Approximately 3 days after creation of your FSA ID).

The Master Promissory Note (MPN) is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the U.S. Department of Education. It also explains the terms and conditions of your loan(s). Unless your school does not allow more than one loan to be made under the same MPN, you can borrow additional Direct Loans on a single MPN for up to 10 years.

Summit Salon Academy – Gainesville will tell you what loans, if any, you are eligible to receive.

For information on completing the Master Promissory Note click the following button:

Step 6: Complete Parent PLUS Loan Documents (Optional)

Parent PLUS (Parent Loan for Undergraduate Students) Loans are available that enable birth, adoptive, or step-parents of dependent undergraduate students to borrow. There is a federal origination fee of 4% deducted proportionately from each loan disbursement.

Eligibility

To be considered for a Federal Direct PLUS Loan:

• The Federal PLUS Loan is not based on financial need; however Summit Salon Academy – Gainesville requires completion of the FAFSA which can be completed online at fafsa.ed.gov.
• The parent must obtain a FSA ID at fsaid.ed.gov
• Students and parents must be a U.S. Citizen or eligible non-citizen
• Students and parents must not be in default on a federal education loan or owe an overpayment on an educational grant
• Student must be enrolled at least half-time
• Student must attend classes and maintain Satisfactory Academic Progress
• Applicant cannot have an adverse credit history. A credit check is required for approval.

Application Process

1. 1. Complete the Federal Direct Parent PLUS Loan Form.
      DOWNLOAD FORM
   2. Provide a photocopy of your Driver’s License/Identification card and Social Security Card to Financial Aid Office.
   3. Complete the PLUS Loan Refund Authorization Worksheet that is attached to the Federal Direct PLUS Loan Form.
   4. Complete the Online Direct Loan Master Promissory Note (MPN). Go to Federal Student Aid to complete this. This will only need to be completed by the parent ONCE PER STUDENT while your student(s) attends Summit Salon Academy – Gainesville. Once all steps are completed, make sure to print out a copy of your Master Promissory Note for your records. An electronic confirmation will be transmitted to the financial aid office within 24 hours. 
      Master Promissory Note Instructions
   5. If your student withdraws from school, the Cost of Attendance and financial aid award amounts will be adjusted. This could result in a reduction or removal of loans or other financial aid.

• The Financial Aid Office will notify the student of the award via email or an in-person meeting. Your student can view and accept the award on the first day of classes. By default, Summit Salon Academy – Gainesville only covers up to the cost of tuition for PLUS Loans unless an increase for living expenses is specifically requested by the Borrower of the PLUS Loan. Awards are determined on an ongoing basis and completed after your student’s financial aid file is complete and reviewed for eligibility. To be complete, your student must respond to all requests for information.