Making Your Beauty Education Affordable

Grants are a great option because they do not need to be repaid. Pell Grants are awarded based on financial need, as determined by your FAFSA application. If you qualify, these funds can significantly reduce your out-of-pocket costs.

Federal student loans provide additional funding for your education.

• Subsidized Loans: These are need-based and do not accrue interest while you are in school.
• Unsubsidized Loans: These loans are available to all eligible students, regardless of financial need, but they do accrue interest while you are enrolled.

Parents of dependent students can apply for Parent PLUS Loans, which allow them to borrow additional funds to cover tuition and other educational expenses. These loans have flexible repayment options and may help ease financial stress for families.

In addition to federal financial aid, students may qualify for scholarships and alternative funding opportunities to help reduce tuition costs. At Aveda Institute New Mexico, we encourage students to explore third-party beauty industry scholarships, which are offered by nonprofits, professional organizations, and corporate sponsors to support aspiring beauty professionals.

A Federal Pell Grant is a form of financial aid awarded by the U.S. Department of Education to help eligible students pay for college or career school. Unlike a loan, it doesn’t have to be repaid.

To qualify for a Pell Grant, you must meet the following criteria:

• Demonstrate financial need based on the information submitted in your FAFSA (Free Application for Federal Student Aid)

• Be a U.S. citizen or eligible non-citizen

• Have a high school diploma or equivalent (GED, homeschool certification, etc.)

• Be enrolled or accepted for enrollment in an eligible program, such as our Cosmetology or Esthiology program

• Maintain satisfactory academic progress once enrolled

• Have no prior bachelor’s degree (in most cases)

• Not be in default on a federal student loan or owe a refund on a federal grant

To apply, complete the FAFSA at studentaid.gov. Be sure to list Aveda Institute New Mexico as your school of choice so our financial aid team can assist you with your eligibility and next steps.

Tuition for the Aveda Institute New Mexico Cosmetology Program is $19,118. The cost is broken down as follows:

• Tuition: $15,450
• Kit: $2,200
• Application Fee: $100
• NM State Tax: $1,368

Financial aid is available for those who qualify, and our admissions team can assist with exploring scholarships and payment plans.

Tuition for the Aveda Institute New Mexico Esthiology Program is $11,575, which includes the student kit, supplies, and state tax. The cost breakdown is as follows:

• Tuition: $8,650
• Kit: $2,000
• Application Fee: $100
• NM State Tax: $825

Financial aid is available for those who qualify, and our admissions team can assist with exploring scholarships and payment plans.

Subsidized Loans

What’s Covered:
The government pays the interest while you’re in school, during your grace period, and any deferment period.

Repayment:
Begins 6 months after graduation or if you drop below half-time enrollment.

Unsubsidized Loans

What’s Covered:
You are responsible for all interest, starting as soon as the loan is disbursed.

Repayment:
Begins 6 months after graduation or dropping below half-time enrollment, but interest will have already accrued while you were in school.

Which Loan Is Right for You?

• Subsidized loans can save you money because the government covers interest while you’re in school.
• Unsubsidized loans are available to more students, but remember that interest adds up from the start.

Need Help?

Contact:
Yvette Marentes
Financial Aid Director
505-294-5333 x 365
financialaid@avedanm.com

For more information or assistance in applying for loans, don’t hesitate to reach out!

1. Create an FSA ID:
   Visit the FAFSA website and create a Federal Student Aid (FSA) ID.
   This will serve as your unique username and password for signing in.
2. Gather Required Documents:
   Collect your Social Security number, tax returns, W-2 forms, and other financial information for you (and your parents, if applicable).
3. Fill Out the FAFSA Form:
   Log in at fafsa.gov and complete the form using the necessary information.
   Be sure to link Aveda Institute New Mexico using our Federal School Code: 041745.
4. Submit the FAFSA:
   After reviewing all information, submit your FAFSA form.
   You will receive a confirmation once it’s successfully submitted.
5. Contact Aveda Institute New Mexico:
   Once your FAFSA has been submitted, contact our Financial Aid Director to confirm your application is complete: Yvette Marentes, Financial Aid Director financialaid@avedanm.com