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Shore Beauty School students come from all different backgrounds. We understand that everyone has different financial means. Our Financial Aid office will assist you in evaluating different alternatives to fund your education. Federal and State financial aid (i.e., loans and grants), as well as scholarships, are available to students who qualify. It is important that you understand what forms of aid are available to you and your responsibilities with regard to accepting such aid.
Shore is authorized to participate in the Federal Government’s Title IV financial aid programs including: Federal Pell Grant and Federal Direct Loans.
Under Professional Judgment standards, the school’s financial aid officer has the authority to adjust, on a case-by-case basis with adequate documentation, certain elements of the FAFSA which could potentially increase a student’s qualification for federal financial aid. Such adjustments are based upon special or unusual circumstances that demonstrate the additional need for financial aid. Such circumstances could include, but are not limited to, financial hardship owing to job loss, loss of financial support, estranged parental relationships for a dependent student, or other financial losses or hardships.
For example, the school may change the status of a dependent student to an independent student increasing the availability of federal loans. The reasons for dependency overrides may include, but do not necessarily be limited to, when a student cannot contact a parent owing to: human trafficking, legally granted refugee or asylum status, parental abandonment or estrangement, and incarceration. Unusual circumstances do not include parental: refusal to contribute to a student’s education, refusal to provide information for the FAFSA or verification, failure to claim student as a dependent for income tax purposes; or a student demonstrating total self-sufficiency. Dependency overrides will carry-over to a subsequent award year provided the circumstances requiring an override remain the same.
Shore’s decision regarding adjustments to your financial aid application, based upon Professional Judgement is final and cannot be appealed to the U.S. Department of Education. The school will use its reasonable best efforts to execute a dependency override or adjustments to data elements in the FAFSA in a timely manner, which should not exceed 30 calendar days from the time student has fulfilled all information requested by school to substantiate an increase to the student’s qualification for financial aid. If you think you may qualify for Professional Judgment, be sure to discuss this with Shore’s financial aid office.
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SHORE participates in the U.S. Department of Education’s Pell Grant and Direct Loan Programs as its primary source of student loans. Students are encouraged to exhaust all available federal financial aid options, grants and scholarships before considering private education loans.
If federal financial aid does not fully cover the cost of attendance, students may choose to obtain additional funding through personal resources, payment plans, scholarships, or private education loans from financial institutions such as banks or credit unions.
SHORE maintains a list of financial institutions that have historically provided private loan options for students enrolled in career training programs. This list is provided for information purposes solely to assist students in identifying potential funding sources.
SHORE does not require students and/or their families to use a lender and most specifically the Preferred Lenders listed below. Students are free to select any lender of their choice. SHORE will not deny or impede a borrower’s choice of a lender or cause unnecessary delay in loan certification for borrowers who choose a lender that is not included on the Preferred Lender List.
SHORE’s Preferred Lender List, which offers loan products to cover educational expenses are:
SHORE selected these Preferred Lenders based on one or more of the following criteria:
SHORE periodically reviews lender information but does not guarantee loan approval, terms, or borrower experience. SHORE Preferred Lender List is largely based upon the lender’s willingness to issue educational loans to cosmetology students.
Students should carefully review all loan terms and conditions before borrowing. Private education loans typically have:
Students are strongly encouraged to explore federal financial aid options first, including Direct Loans and Pell Grants.
SHORE does not receive any financial benefit, compensation, or incentive from any lender listed. No employee of Shore Beauty School is permitted to accept gifts, payments, or other benefits from lenders in exchange for referrals or recommendations. SHORE does not have lender agreements in place with any private lenders.
SHORE is approved to participate in the New Jersey College Loans to Assist Students Program (“NJCLASS”). The NJCLASS program is intended to supplement the Federal Stafford Loan Program. The NJCLASS program was established through legislation enacted in 1991 and is administered by the New Jersey Higher Education Student Assistance Authority. In order to participate, students must be enrolled in at least a half-time basis, be making Satisfactory Academic Progress and have filed a FAFSA application. Students may access an online application at https://www.hesaa.org, where they will be instructed to receive an instant credit check to determine further eligibility. The NJCLASS program is intended to supplement the Federal Stafford Loan Program. A 10-year loan would carry a 5.99% interest rate, if repayment began while in school, or a 7.99% interest rate, if repayment was deferred until after graduation. NJCLASS loans are structured with a 0% upfront origination fee. For further details, students can call 1-800-792-8670.
SHORE is approved to participate in the Pennsylvania Higher Education Assistance Agency’s Keystone Student Loan Program (“Keystone”). Keystone was established to offer students and families an alternative solution to cover gaps in paying for post-secondary education. Keystone provides loans to both student and parent borrowers. Financial need is calculated up to the cost of attendance minus other financial aid, as certified by SHORE. As such Keystone can only be accessed after federal loans have been exhausted. This loan program is subject to credit review, which is good for 180 days, after which must be reassessed. Go to https://keystonestudentloans.org/ for more detailed information on the Keystone loan programs.
The Financial Resources Credit Union (FRCU) has indicated an interest in offering Student Loans to SHORE students. FRCU specializes in covering the cost of enrollment and fees for trade schools and has demonstrated a specific interest in funding cosmetology students. Students, who must be at least 18 years old, may borrow up to $10,000 or a minimum of $500. As FRCU is a private lending source, students may find its proposed lending terms to be less favorable than government affiliated lenders. In order to apply, students will need proof of registration, program cost, and length and dates of study. Go to www.myfinancialresources.org or call (800) 933-3280 for information on its student lending program.
