At the Aveda Institute, we believe every student should have access to an education, regardless of his or her financial status. To make this possible, our Financial Aid Office assists students in finding sources of financial aid, filling out the necessary forms and understanding basic principles of money management.
Selection Criteria: Students must file all forms as requested in a timely manner. Also, students may be required to provide documentation to verify information provided on the Free Application for Federal Student Aid (FAFSA). The financial aid verification policy and deadlines are available upon request from the Financial Aid Office.
Amount of Awards: The determination of the amount of the award is solely at the discretion of the agency making the loan or award.
Repayment: Terms of any loan or awards, including repayment schedules, are established by the agency making the loan or award. Information regarding repayment should be obtained from the agency.
Loan Counseling: All students receiving loan funds while attending an Aveda Institute will be required to attend an Entrance Loan Counseling session at the beginning of their program and an Exit Session near the end of their program. Students will be notified of these dates.
In order to have funds available by the time school begins, students are encouraged to begin the application process three months before the program start date. Students must complete the Free Application for Federal Student Aid (www.FAFSA.gov) with our school code (014847), including all verification documents, and the Minnesota State Grant Questionnaire if applicable, to be considered for grants, scholarships and student loans. To learn more, please contact the Financial Aid Office at 800.274.6778.
1. The student must be enrolled and maintain satisfactory academic progress to receive financial aid.
2. The student must sign an affidavit of educational purposes, Selective Service Registration compliance
and default certification.
3. The student must notify the Financial Aid Office of any name or address change.
4. The student must notify the Financial Aid Office of any changes in his or her financial situation.
5. The student must notify the Financial Aid Office of any outside scholarships, grants or other sources of assistance.
6. The student must comply with all financial aid deadlines.
Subsidized Direct Student Loan Program
If you are unable to meet tuition expenses from grants, work and family assistance, you may be eligible to apply for a subsidized Direct Student Loan. Maximum loan amounts and current interest rates for the loan may be obtained at the time of application. The loan is guaranteed by the federal government, which pays the interest while the student is in school. Contact the Financial Aid Office for information on application procedures.
Unsubsidized Direct Student Loan
You may also be eligible for an Unsubsidized Direct Loan.
Private Scholarships and Loans
A number of organizations and corporations offer scholarships. Check with your employer or parents’ employers for available scholarship programs. Also, there are private educational loans available to those who qualify. Contact the Financial Aid Office for information.
Federal Pell Grant
The Federal Pell Grant is a student financial aid program designed to assist students in the continuation of their education after high school. A student who does not have a bachelor’s degree, is a U.S. citizen or permanent resident, and is enrolled on at least a half-time basis in an eligible institution may apply for a Federal Pell Grant. Eligibility is determined by the student’s/family’s financial resources, according to a formula developed and reviewed by the U.S. Department of Education and Congress.
Federal Supplemental Education Opportunity Grant (SEOG)
The Federal SEOG provides grants to undergraduate students who demonstrate exceptional need. In addition, eligible students must also be Federal Pell Grant recipients. Due to limited funds, the Federal SEOG is offered on a first-come, first-serve basis.
Minnesota State Grant
The Minnesota State Grant is a financial aid program designed to help Minnesota residents continue their education after high school. The formula to determine a student’s eligibility is based on the “Shared Responsibility” theory created by the Minnesota Office of Higher Education. The theory’s premise is that the student and his/her family should provide part of the cost of education; the Grant Program is designed to contribute to the remaining cost of education.
Disbursement of the Loans
Disbursements are issued to the school, and electronically transferred into the student’s tuition account. The student must be in attendance and be making satisfactory progress to receive the loan. The Aveda Institute requires students to bring their tuition accounts up to date at the time the funds are disbursed.
Federal PLUS Loans
Creditworthy parents of dependent undergraduate students may borrow under the Direct PLUS Loan program. Contact the Financial Aid Office for information on maximum loan limitations, application and disbursement procedures, and current interest rates.