SCHOOL CODE:
FEDERAL FINANCIAL AID
041410
2026-2027 ACADEMIC YEAR PROCESS 1. 2. 3.
Request an FSA ID at www.studentaid.gov/fsa-id/create-account/launch Complete the 2025-2026 & 2026-2027 Free Application for Federal Student Aid at www.studentaid.gov. Submit your finished FAFSA® Form. In several days, you will be notified of your financial aid eligibility by the Financial Aid Office.
*Some FAFSA® Forms are selected for a review process called verification, where a student may have to submit additional documentation to the Financial Aid Coordinator.
FEDERAL PELL GRANT Award amount based on financial need determined from FAFSA, enrollment date, and enrollment status. Unlike a loan, a Federal Pell Grant does not have to be repaid. The maximum Pell Grant award per program is: • Cosmetology | $7,395
• Esthiology | $6,163
FEDERAL DIRECT SUBSIDIZED & UNSUBSIDIZED LOANS Subsidized Loan amount based on financial need is determined from FAFSA. Subsidized Loans have a fixed interest rate of 6.53%. The government pays the accruing interest while in-school, grace and authorized deferment periods. Unsubsidized Loans have a fixed interest rate of 6.53%. You are responsible for paying the accruing interest while in school, grace and authorized deferment periods. • The maximum an “independent” Cosmetology student can borrow is $16,500; a “dependent” Cosmetology student can borrow up to $9,833.
• The maximum an “independent” Esthiology student can borrow is $7,917; a “dependent” Esthiology student can borrow up to $4,584.
Before loan funds can be disbursed, students must complete Loan Entrance Counseling and Master Promissory Note (MPN) for a Subsidized/Unsubsidized Loan at www.studentaid.gov
FEDERAL DIRECT PLUS LOANS Loans are available to parents of “dependent” students that are approved based on credit rating. If the parent is denied a PLUS Loan, a “dependent” student’s loan eligibility increases to that of an independent student. PLUS Loans have a fixed interest rate of 9.08%. Parents interested in a PLUS Loan should apply at www.studentaid.gov.
IMPORTANT! Sometimes Financial Aid can be applied to a student’s down payment. Please contact the Financial Aid Coordinator regarding this. All Financial Aid is immediately applied to any owed tuition. Financial Aid disburses in increments, where a student must make Satisfactory Academic Progress (please see course catalog) to remain eligible for the funds. Financial Aid Department Gregory Mathews, Financial Aid Administrator 414.319.7581 or gregory@ibw.edu
Chicago
2828 N. Clark St
Chicago, IL 60657
773-883-1560 @AvedaChicago
Madison
353 E. Campus Mall
Madison, WI 53715
608-250-3100 @AvedaMadison
Milwaukee
327 E. St Paul Ave. Milwaukee, WI 53202 414-227-2889 @AvedaIBW