Financial Assistance

Lowell Academy Hairstyling Institute is Accredited by The National Accrediting Commission of Cosmetology Arts & Sciences (NACCAS) and approved by the U.S. Department of Education. This allows us the ability to offer all the federal, state and institutional financial assistance programs listed below to all qualified students.

Federal Pell Grants
A Federal Pell Grant is money that does NOT have to be repaid by the student. Federal Pell Grants are usually awarded only to students who have not earned a bachelor’s or a professional degree. In some cases, however, a student enrolled in a post baccalaureate teacher certification program might receive a Federal Pell Grant. You are not eligible to receive a Federal Pell Grant if you are incarcerated in a federal or state penal institution or are subject to an involuntary civil commitment upon completion of a period of incarceration for a forcible or non-forcible sexual offense.

How much can a student receive?”
The amount a student can receive varies each year. The maximum Pell Grant for the 2014–15 award year (July 1, 2014 to June 30, 2015) is $5,730. The amount you are eligible for is determined by the amount of “financial need” the student displays. The financial need of each student is determined by submitting a FAFSA that will generate an Estimated Family Contribution (EFC).

A Federal Supplemental Educational Opportunity Grant (FSEOG)
The FSEOG is grant that also does not need to be repaid by the student .Students who display the most financial need will be first to receive FSEOGs funding. Eligibility for this award is determined much like a Pell grant and is based upon the students Estimated Family Contribution (EFC) generated from the FAFSA.

The FSEOG program is administered by the financial aid office at each participating school and is therefore called “campus-based” aid. Not all schools participate.You can receive between $100 and $4,000 a year, depending on your financial need, the amount of other aid you get, and the availability of funds at your school. Contact Lowell Academy’s financial aid office to find out the amount you may qualify for by contacting

Federal Subsidized & Unsubsidized Loans
Subsidized and Unsubsidized loans are federal student loans for eligible students to help cover the cost of college or trade, career, or technical school. The U.S. Department of Education offers students at participating schools Direct Subsidized Loans and Direct Unsubsidized Loans.

What is the difference between the two?”
In short, Direct Subsidized Loans have slightly better terms the an Unsubsidized loan.

Here’s a quick overview of Direct Subsidized Loans:

  • Direct Subsidized Loans are available to students with financial need.
  • Your school determines the amount you can borrow, and the amount may not exceed your financial need.
  • The U.S. Department of Education pays the interest on a Direct Subsidized Loan while you’re in school , the first si months after you graduate or if/when you enter a period of deferment.

Here’s a quick overview of Direct Unsubsidized Loans:

  • Direct Unsubsidized Loans are available to undergraduate and graduate students; there is no requirement to demonstrate financial need.
  • Your school determines the amount you can borrow based on your cost of attendance and other financial aid you receive.
  • You are responsible for paying the interest on a Direct Unsubsidized Loan during all periods.
  • If you choose not to pay the interest while you are in school and during grace periods and deferment or forbearance periods, your interest will accrue (accumulate) and be capitalized (that is, your interest will be added to the principal amount of your loan).
Federal PLUS Loans
PLUS loans are federal loans that graduate or parents of dependent students can use to help pay education expenses. The U.S. Department of Education offers Direct PLUS Loans to eligible borrowers through schools participating in the Direct loan Program.

Here’s a quick overview of Direct PLUS Loans:

  • The U.S. Department of Education is the lender.
  • The borrower must not have an adverse credit history.
  • The maximum loan amount is the student’s cost of attendance (determined by the school) minus any other financial aid received.

Who is eligible to receive a PLUS Loan?
To receive a PLUS Loan you must be a graduate student or be the parent (biological, adoptive, or in some cases, stepparent) of a dependent student enrolled at a participating school. You must also meet the general eligibility criteria for Federal Student Aid outlined here.

What is the current interest rate?
For Direct PLUS Loans disbursed on or after July 1, 2014, and before July 1, 2015, the interest rate is 7.21%. This is a fixed interest rate for the life of the loan.

GI Bill Benefits
Lowell Academy has been approved by U.S. Department of Veterans Affairs (VA )to accept GI Bill benefits including the Post 9/11 GI Bill.

The Post- 9/11 GI Bill is an education benefit program for individuals who served on active duty after September 10, 2001. You may be eligible if you served at least 90 aggregate days on active duty* after September 10, 2001, or were honorably discharged from active duty for a service-connected disability after serving 30 continuous days following September 10, 2001.

If you are wondering about your own eligibility or have questions about your benefits please contact us at or by checking out the GI Bill website

Office of Labor and Workforce Development Benefits
Lowell Academy is an approved vendor of the Massachusetts Office of Labor and Workforce Development. This means we are eligible to receive Trade Adjustment Assistance (TAA) benefits.

What is TAA?
Trade Adjustment Assistance (TAA) provides benefits to workers who lose their jobs, or whose hours of work and wages are reduced as a result of increased imports, or whose jobs were exported offshore. The TAA program provides benefits which include a variety of reemployment services designed to help trade-affected workers prepare for and obtain suitable employment.

Who is eligible to receive benefits?
The eligibility process is initiated by the filing of a petition with the US Department of Labor for a determination that the company’s layoffs were trade-affected.  If the investigation concludes granting certification to the company, each individual worker must apply for eligibility.

Filing a Petition for Trade Benefits Eligibility:

Any one of the following may file for a petition:
1. Group of 3 or more affected workers
2. Official of the certified/recognized union or other representative
3. Official of the employer/firm
4. One-Stop operators/partners
5. State Dislocated Worker Unit (includes Trade Programs Unit)

For more information about this or other programs offered by the Massachusetts Office of Labor and Workforce development visit

Massachusetts Rehabilitation Program
Massachusetts Vocational Rehabilitation Program assists individuals with disabilities to obtain and maintain employment. The Vocational Rehabilitation Program helps individuals with physical, psychiatric and/or learning disabilities face the challenges of the modern workplace. This may include identifying job goals based on individual interests and aptitudes, providing funds for college and vocational training, assessing worksite accommodations, educating an employer about the Americans With Disabilities Act, or assisting an individual returning to work after adjusting to a new disabling condition. Vocational rehabilitation services can often reduce or remove barriers to employment. Priority is given to those individuals who have the most severe disabilities in areas such as communication, mobility, work tolerance and work skills.

Who qualifies for Mass Rehab benefits?
To be eligible an individual must  have a physical or mental impairment that is a substantial impediment to employment. Those who struggle with addiction or physical, psychiatric and/or learning disabilities may qualify to receive benefits via the Massachusetts Rehabilitation Program. If you think you may qualify for MRP benefits contact Lowell Academy or visit

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