Gainful Employment Disclosures
On October 29, 2010 the United States Department of Education required that by July 1, 2011 any institution that provided programs that lead to “gainful employment” must provide to prospective students the following information:
1. The US Department of Labor Standard Occupational Classification code for the “gainful employment” programs offered. All Beauty College offers a Cosmetology program SOC code# 39-5012, an Aesthetics program SOC code # 39-5094, and a Nail Tech Program SOC code #39-5092. A link to the Dept. of Labor’s O*NET web site is provided under “important links”.
2. On Time Graduation Rates for students enrolled during the most recent award year: The most recent award year for All Beauty College will be completed June 30, 2011.We will have these rates posted as soon as possible after the award year end.
3. Tuition, fees, and institutional charges: These charges are also published in the catalog that is accessible on the Consumer Information portion of our website. Tuition for Cosmetology Program is$13,500; Tuition for Aesthetics and Nail Tech programs is $6,000; registration fee is $100.00 for all programs.
4. Cost for books and equipment: $900.00 for all programs
5. Job placement rates for completing the program: This information is also found in the school catalog. From our last accrediting commission report of November 2010, 10 out of 11 graduates (91%) from calendar year 2009 were able to find employment in the industry. One other graduate was not yet eligible for employment at the time of the report.
6. Median Loan Debt: The median Title IV loan debt for students enrolled in school during the 10/11 award year (July 1, 2010 – June 30, 2011) will be available and posted on this site as soon as possible after award year end.
The U.S. Department of Education offers several Financial Aid programs for eligible students enrolled in eligible programs at All Beauty College: Federal PELL Grants, Federal Direct Student Educational Loans, and PLUS Loans. Realize receiving Federal financial aid does not constitute an offer of employment.
The following is a brief overview of the aid available. For more detailed information of Financial Aid, please contact our Financial Aid Administrator.
Federal PELL Grants: are need based grants of Financial Aid that do not have to be repaid, if you complete the course. They are awarded to help eligible students pay for their education after high school, if they attend an accredited school that is eligible to participate in the Federal Financial Aid program. The amount of Pell grant funds the student will be awarded will depend on their own financial situation as well as the length and cost of the course they are taking.
Direct Student Loans: These are educational loans that may be available up to a maximum of $3,500.00 in subsidized loan funds and $2,000.00 in unsubsidized loans for a dependent student and $3,500 subsidized loans and $6,000.00 for an independent student in the first academic year (1 – 900 hours). Subsidized loans are need based and the federal government pays the interest while students are in school and through their grace period of six months. Unsubsidized loans are not need based; interest is either paid or allowed to accrue during a student’s time in school and through the grace period. During the second academic year (901 – 1600hrs), both dependent and independent students may qualify for a maximum of $3,500 in subsidized loans. Dependent students may be eligible for up $2,000.00 and independent students may be eligible for up to $6,000 in unsubsidized loans. Loans are disbursed by payment period. Funds will first be credited to tuition and excess funds will be disbursed to the student. Your final loan eligibility is based on several factors including but not limited to: your estimated family contribution, cost of attendance, and total PELL awards. Because these are loans, not grants, the student must repay these funds after graduation. The interest rate on a student loan is adjusted annually, but has a maximum cap of 8.25%. Repayment is usually not due to the lender until six months after the student leaves the school. The six month grace period gives the student a chance to acquire a position in a salon and get their career under way before repayment begins. When repayment does begin, the payments can be as little as $50.00 per month and that includes principal and interest; however the payments usually average approximately $100.00-$120.00 per month for graduates who utilize more than one loan. Publications regarding student loans are available in the Financial Aid office on campus.
PLUS Loans: These loans are for parents who want to borrow money to help pay for their child’s education. The interest rate on these loans is adjusted annually, but has a maximum cap of 9%. Repayment begins while the student is enrolled in school.
Applying for Financial Aid
In order for a student to receive any Federal Financial Aid (loans or grants), the Free Application for Federal Student Aid (FAFSA) must be correctly completed and either mailed or electronically transmitted to the processor. The processor will then send a Student Aid Report (S.A.R.) to the student and the school indicating the student’s official eligibility for Federal Financial Aid. The free application is available at the School or on line at fafsa.ed.gov. Our Federal School Code/OPEID is 041742.
Department of Education O*Net Website:
Direct Loans Information: