Money Matters

Nail School Receives Title IV Funding

It’s not just the spa-like atmosphere at Long Island’s Nail & Skin Institute that makes the school unique. Its financial aid program allows students to receive Title IV funding through the U.S. Department of Education.

It’s not just the spa-like atmosphere at Long Island’s Nail & Skin Institute that makes the school unique. Its financial aid program allows students to receive Title IV funding through the U.S. Department of Education. “It’s difficult to get the Title IV funding,” says Dana Caruso, founder of the Institute. “There is a tremendous amount of red tape and paperwork. It took a few years from start to finish.”

NAILS asked Caruso to tell us more about the accreditation process.

Why make Title IV funding available to students?

Caruso: The Title IV component was implemented due to changes in the economy and students’ needs for additional financial resources to support their education and career goals. It’s very important and something every school owner should consider, because it allows access to education for people who may not have had an opportunity.

How much money do the students typically receive?

Caruso: Students can receive a maximum of $10,000 in Title IV Funding to pay for tuition. They can receive the Pell Grant and subsidized and unsubsidized Direct Stafford Loans.

Describe the process you went through to get accredited.

Caruso: The accreditation process begins with an in-depth self-evaluation study that measures the educational program’s performance against the standards established by the accrediting agency. There is an on-site evaluation during which a team selected by the accrediting agency visits the program to determine first-hand if the applicant meets the established standards. Upon being satisfied that the applicant meets its standards, the accrediting agency grants accreditation or pre-accreditation status. The accrediting agency monitors the program throughout the period of accreditation to verify that it continues to meet the agency’s standards.

How have things changed at the school since you were successful?

Caruso: Since the institute launched in 1996, I have been very fortunate to educate aspiring beauty professionals from a variety of backgrounds with impressive goals for their beauty careers. Their inspiration made it a priority to me as an executive director to be able to continue to provide quality education. Federal funding has afforded many women, who did not have the financial resources needed, educational opportunities. 

Keywords:   cosmetology schools     paying for school  



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