Federal Title IV funds are available for students attending Mr. John's as a result of its national
accreditation by NACCAS (National Accrediting Commission of Cosmetology Arts and
Sciences).
Cosmetology students may qualify for the following:
PELL Grant (Based on family income, family size and other factors, students may qualify for
free money to attend Mr. John's.)
SEOG (Those students who qualify for full PELL Grants may receive additional free money
through the SEOG program.)
Subsidized Direct Loans (Students may borrow up to $2,625 in their freshman year with no
payments or interest due until six months after the last day of attendance.)
Unsubsidized Direct Loans (Students may borrow up to $4,000 in their freshmen year. Interest
payments begin three months after loan disbursement. Payments begin six months after the last
day of attendance. )
PLUS Loans (Parent Loans for Undergraduate Students — Dependent students' parents may
borrow funds to help pay for tuition. Interest and payments start 60 days from the first disbursement.)
Because of the length of the esthetics program, the loan and PELL Grant amounts listed above
are prorated to 83% of the cosmetology rates listed above.
The nail technology program is not funded through PELL Grants. Students can apply for direct
loans to cover the cost of training. Loan amounts are prorated to 44% of the cosmetology rates
listed above.
All federal student loan programs carry a low interest rate that is adjusted every July 1.
Students with multiple loans are encouraged to consolidate the loans at time of graduation into
one singular loan which creates only one payment.