Where Will You Find the Money to Study CosmetologyBlog ▸ Beauty Career, Beauty Student Advice | March 20, 2017
Considering cosmetology school? Is this something that you have always wanted to do? Now the question is popping up in your head how will I pay for it.
Take a Deep Breath
Start with a deep breath; it’s totally possible to afford cosmetology school. Better still, you’ll find that good programs are open to flexible payment options and have employees dedicated to helping you find the money you need to attend.
It’s a Funding Portfolio
What you should know is that most cosmetology students don’t find the money they need for school from a single source. It’s more of a funding portfolio drawing from any number of places (and usually from many sources). If you can’t pay for it out of savings from your high school job or find a single loan to cover school, you’re not alone. And, there are a lot more options than you may think.
Personal Savings and Family Assistance
The best place to start is always the money that’s already in the bank. Whether you’ve been working for several years (and hopefully you’ve saved some of that cash) or your parents are willing to assist with part of the cost of your education, look at these options first.
While grants and scholarships are offered – they’re not guaranteed, so you don’t want to bank on them until you know you have them.
Part-Time (or Full-Time) Work
Can you work part-time while studying full-time (or vice versa)? If you’ve arranged flexible payments with your cosmetology school, you’ll be able to offset some of the needed money this way. That’s not to say you should overextend yourself; you’ll be very busy with your studies. But, if you can squeeze in some part-time or seasonal work, it’s not a bad idea.
Grants and Scholarships
Grants are money that doesn’t have to be repaid. There are several types of grants available through the U.S. Department of Education and other sources.
Educational Loans from the Government or Banks
And finally, there are plenty of loan options available. You can apply for federal financial aid and loans. Government subsidized loans are typically the best options, as you will pay less in interest and fees. But, that doesn’t mean you should rule out loans from private banks – especially if you’ve been a customer for many years.
Just remember to consider all funding options first – loans stick with you until you’ve paid them off. You owe it to yourself to find out what options you have that can make starting your dream career a reality.
Take the next step and meet with your school’s Career Planning Specialist, who can help guide you every step of the way.
If you are interested in learning more about a future in cosmetology, please fill out the online form on this page or call us at 1 (800) 964-1328.
For important consumer info, please visit www.empire.edu/ge