Financial Aid

Financial Aid

FINANCIAL ASSISTANCE

The L Makeup Institute understands that financing an education can be one of the most complex and important issues that applicants face. For this reason, the L Makeup Institute’s Financial Aid Department can provide information and assistance to all applicants and families concerning a variety of finance options for their education including federal grants and federal loans for their direct and indirect cost of education. Available resources include federal grants and student loans administered through the U.S. Department of Education, VA Benefits and/or private institutional private financing. If an applicant obtains a loan to pay for an educational program, he or she will have the responsibility to repay the full amount of the loan plus interest, less the amount of any refund.

U.S. DEPARTMENT OF EDUCATION:

Any U.S. citizen, national in the United States may apply for financial assistance for the award year July 1 – June 30. The Financial Aid Department has additional consumer information published by the U.S. Department of Education that describes federal programs available, student rights and responsibilities to eligible students.

Federal Pell Grant:

This grant is an important source of aid for students. Students and/or parents must complete the Free Application for Federal Student Aid (FAFSA) online at www.fafsa.ed.gov. L Makeup Institute will determine the amount of Federal Pell Grant once the FAFSA is filed. The factors used to determine the award is based on student eligibility, enrollment status, cost of attendance and a payment schedule provided by the U.S. Department of Education.

Federal Direct Loan Programs (FDLP):

This program has Federal Direct Subsidized, Federal Direct Unsubsidized, and Federal Parent Loans to Assist Undergraduate Students (PLUS). A Federal Direct Subsidized Loan must begin repayment six months after the student’s last date of attendance. A Federal Direct Unsubsidized Loan must begin repayment six months after the student’s last date of attendance. A PLUS loan is made available to parent with good credit history and begin repayment once the disbursement is released. To apply for FDLP go online at www.studentloans.ed.gov.

Federal Direct Subsidized Loan:

This loan is based on financial need. Financial need is the Cost of Attendance, less Expected Family Contribution (EFC), less Estimated Financial Aid, equal Financial Need. The U.S Department of Education pays the interest on a Direct Subsidized Loan while you’re in school, and during the grace period.

Federal Direct Unsubsidized Loan:

This loan is non-need based. The borrower is responsible for paying the interest on a Direct Unsubsidized Loan during all periods, however, after you graduate, leave school, or drop below half-time enrollment, you will have a six month grace period before you are required to begin repayment.

TO APPLY FOR FINANCIAL AID AT L MAKEUP INSTITUTE:

Electronically submit the Free Application for Federal Student Aid (FAFSA). All students interested in financial aid at L Makeup Institute will need to complete this form by following these simple steps below. Make a note of L Makeup Institute Federal School Code is 04269800. You will be required to link your FAFSA and/or Direct loan information to the application in order for our school to receive them.

Step 1: Students, parents, and borrowers are required to use an FSA ID, made up of a username and password, to access certain U.S. Department of Education websites. Your FSA ID is used to confirm your identity when accessing your financial aid information and electronically signing your federal student aid documents. To set up go to: https://fsaid.ed.gov/npas/index.htm. If you already have an FSA ID go to step 2.

Step 2: To apply for year 19 / 20 and 20 / 21 FAFSA go to: https://studentaid.ed.gov/sa/fafsa our school code 042698

INSTITUTIONAL FINANCING PROGRAM:

Financial private loans and assistance is available for those who qualify. The student may apply for institutional financing by completing a loan application provided by the Admission’s Office. The applicant is required to have a good payment history and income that is sufficient to pay back the loan. A creditworthy cosigner may be required. Repayment terms such as interest rates, down payment, minimum monthly payment and repayment period vary by the amount being financed and the overall strength of the application.

Steps to qualify for a private institutional loan directly with the L Makeup Institute:

Contact our admissions department to register. You are registered when you:

  1. Have completed an admissions application, provided proof of a High School Diploma or equivalent, and paid your $100 application fee.
  2. Complete the L Makeup Institute’s (LMI) free Financing Application available through our Financing Department.
  3. Once we have received a completed LMI Financing Application, we will contact you with an approval with your payment option(s), a request for additional documents, or a denial.

U.S. DEPARTMENT OF VETERANS AFFAIRS

www.va.gov

GI Bill ® is a registered trademark of the U.S. Department of Veterans Affairs (VA).  More information about education benefits offered by VA is available at the following official U.S. government websites and may be available for VA Beneficiaries.

  1. Post-9/11 GI Bill ®
  2. Montgomery GI Bill ®

Survivors and Dependents Assistance

  1. (Fry Scholarship)
  2. (DEA Program)
  3. Veterans Educational Assistance Program (VEAP)

Applying for your VA education benefits can be done in just a few steps:

  1. Apply online at https://www.ebenefits.va.gov/ebenefits/vonapp today if you know which benefit you want to use.
  2. Consult with the L Makeup Institute
Schedule your Virtual or In-Person Tour