Capri's Federal School Code = 013088
In order for Capri to receive an electronic copy of your FAFSA, please enter school code 013088
in the school selection area of the FAFSA. This code applies to both campus locations; Oak Forest & New Lenox.
Contact Information for Assistance
We are happy to help! To obtain institutional or financial aid information, please contact the Office of Admission and Financial Aid. Telephone: Oak Forest Campus: 708-687-3020 x 210. New Lenox Campus: 815-485-3020 x 210. Email: admissions@capri.edu
Applying for Aid
A college education will be one of the most important investments a student and their family will make. Financial aid, for those who qualify, can help bridge the gap between the student's resources and the cost of education. We emphasize bridging the gap because the student and their family are primarily responsible for college expenses. The Office of Student Financial Aid at Capri Beauty College (OSFA at Capri) makes every effort to assist students and their family in obtaining the financial aid funds needed to meet expenses if family resources are not adequate.
Students must apply for financial aid each year by filing the Free Application for Federal Student Aid (FAFSA). Financial aid awarded by the OSFA at Capri is not automatically renewed.
Students can submit the FAFSA before they are admitted to the College; however, they will not be awarded until after they are admitted and have a valid FAFSA on file.
Web Application: View FAFSA on the Web - Federal Student Aid Application link at right.
Standards Students Must Meet to Receive Federal Student Aid
Satisfactory Academic Progress Policy
Federal Student Aid Rights and Responsibilities
As a student you have the right to:
- Know what financial assistance is available to you, including all federal, state, and institutional financial aid programs.
- Know the deadlines for submitting applications for applicable financial aid programs and the process required.
- Know how your financial need is determined, including how cost of attendance budgets are developed.
- Know what resources are considered in the calculation of your financial need, and how much of your need as determined by Capri has been met.
- An explanation of the types of aid contained in your financial aid award as well as how to retain eligibility for those funds (if applicable).
- Request a review of your current financial situation if you meet certain criteria based on changes since filing the current aid year FAFSA application.
- Know what portion of your aid package is grant or gift aid, and what portion must be repaid. In addition, you have the right to know interest rates, total amount to be repaid, procedures for repayment, when repayment begins, and how long you have to repay the loan.
- Know the criteria for continued financial aid eligibility, including guidelines for the determination of Satisfactory Academic Progress as defined by the Department of Education.
- Know the method and frequency of financial aid disbursements.
As a student you have the responsibility to:
- Know charges based on your available financial aid and personal resources.
- Review and understand the terms and conditions of your financial aid award.
- Complete all requirements accurately, in a timely manner, and by the appropriate deadlines.
- Inform us if you intend to enroll less than full time for any given term so that your aid can be properly adjusted and disbursed.
- Inform us of any outside scholarships, assistant ships, or additional resources that you receive.
- Fill out the FAFSA application completely and accurately. If selected for verification you will provide all requested documents in a timely manner, and ensure that all submitted materials are complete and accurate. Falsification of information on application forms for federal financial assistance is considered a criminal offense, and you may be subject to penalties under the U.S. Criminal Code.
- Read and understand all forms that you are asked to submit or sign, realizing that you are legally responsible for all agreements that you sign.
- Know and comply with all policies and procedures of the Capri Beauty College.
- Manage your financial aid experience.
Students Selected for Verification
Students selected for Verification may view the policies and procedures for the verification of information provided by applicants for Federal Title IV student financial aid here: Verification - Policy Procedures 2019
Special and Unusual Circumstances
There are unique situations where a financial aid administrator at Capri Beauty College will need to exercise discretion to make appropriate, reasonable adjustments to reflect a student’s situation more accurately and modify data used to calculate the Student Aid Index (SAI). Any student may request professional judgment based on Special Circumstances, Unique Circumstances or both. All requests will be documented by a financial aid administrator whom may either approve or deny a student’s request for an adjustment. Special Circumstances refer to the financial situations that justify an aid administrator adjusting data elements in the Cost of Attendance or in the SAI. Some examples include but are not limited to: change in employment status, income, or assets; change in housing status (e.g., homelessness); tuition expenses at an elementary or secondary school; additional family members enrolled in college; medical, dental, or nursing home expenses not covered by insurance; child or dependent care expenses; severe disability of the student or other member of the student’s household; and other changes or adjustments that impact the student’s costs or ability to pay for college. Unusual Circumstances refer to the conditions that justify an aid administrator making an adjustment to a student’s dependency status based on a unique situation (e.g., human trafficking, refugee or asylee status, parental abuse, abandonment, or incarceration), more commonly referred to as a dependency override.
Loan Code of Conduct
The College prohibits conflicts of interest with respect to Title IV, HEA loans or private education loans including: (1) revenue-sharing agreements; (2) receiving gifts from a lender, guarantor, or loan servicers; (3) contracts providing financial benefit from any lender; (4) directing borrowers to a particular lender; (5) offers of funds for private loans; (6) call center or financial aid office staffing assistance; and (7)advisory board compensation.
Programs
Capri Beauty College is approved by the United States Department of Education to offer the following Title IV programs for post-secondary education to eligible students:
Additional information on Pell Grants is available at: https://studentaid.gov/understand-aid/types/grants/pell
Direct Subsidized and Direct Unsubsidized Loans
Additional information on Direct Subsidized & Direct Unsubsidized Loans is available at: https://studentaid.gov/understand-aid/types/loans/subsidized-unsubsidized
Federal Direct PLUS Loans For Parents
Additional information on Federal Direct Plus Loans for Parents is available at: https://studentaid.gov/understand-aid/types/loans/plus/parent
Interest Rates and Fees for Federal Student Loans
Additional Information on Interest Rates and Fees for Federal Student Loans is available at: https://studentaid.gov/understand-aid/types/loans/interest-rates
Financial Aid Eligibility Requirements:
- Be a U.S. citizen or eligible non-citizen.
- Hold a high school diploma, a general education diploma (GED) or a state recognized home schooled secondary completion credential.
- Be enrolled or accepted for enrollment as a regular student working toward a certificate in an eligible program.
- Have a valid Social Security Number.
- Make satisfactory academic progress.
- Register with Selective Service (males).
- Not be in default on any student loan previously received. This also applies to parents if applying for a Federal Parent Loan (PLUS).
- Not owe a refund or repayment on any federal grant previously awarded. Also applies to parents if applying for a Federal Parent Loan (PLUS).
- Demonstrate financial need based on the methodology written into law by the U.S. Congress by applying for such aid on the Free Application for Federal Student Aid (FAFSA).
How is financial aid determined?
The basis of determining a student's financial need will be an analysis of the financial status of the student's and/or the parent's income. This analysis is accomplished by completing a Free Application for Federal Student Aid (FAFSA) distributed by the U.S. Department of Education.
Where can you find financial aid forms?
- In your high school guidance counselors office.
- Via internet at Capri Beauty College.
- Via the U.S. Department of Education website - FAFSA at www.fafsa.ed.gov.
What factors determine financial need?
- Cost of attendance
- Expected family contribution
- Financial need
Disbursing, Cancelling and Repaying Title IV Program Aid
All Financial Aid is considered projected until an official award letter is printed and signed by the student. All financial aid and award letters are impacted by the definition of an Award Year and an Academic Year. An Award Year is defined by the Federal Government as July 1 of a year to June 30 of the preceding year. An Academic Year is defined by the institution for each program offered. The academic year must be within guidelines established by the Federal Government.
- Cosmetology (1500 hours) 900 hours and 30 weeks
- Teacher Training (1,000 hours) 900 hours and 30 weeks
- Teacher Training (500 hours) No financial aid is awarded in this program
Financial aid awards are prorated according to the length of the program (see above Proration) according to the number of hours and weeks the student will be in attendance during an academic year. Once eligible, Federal funds are credited electronically to the student’s tuition ledger, according to the payment period end marks as defined in the Satisfactory Progress Policy. A paper receipt, identifying aid type and amount, is issued to the student.
Most funds are disbursed according to payment periods or award periods within in the first weeks of school. Award amounts in most cases are divided into two payment periods and will only be disbursed after the payment period has begun and only if the student is deemed to be in satisfactory progress. In the case of second payment periods, awards will be disbursed only if the student has successfully completed the appropriate number of clock hours and weeks of instruction required for the payment period. Failure to successfully complete the proper number of clock hours and weeks of instruction by the required date of evaluation may delay the next payment. Federal Student Aid Credit Balances are mailed to the address on file. To avoid delays in the payment of awards, students applying for financial assistance should make sure that all corresponding application materials, verification documents and/or other financial aid related items are in to the financial aid office. Capri is not responsible for the reduction or cancellation of aid due to a student’s failure to submit required application materials, failure to maintain eligibility standards, Parent PLUS loan credit determination, decrease in awards based on income, or changes published by the U.S. Department of Education.
The earliest the Financial Aid department will request student Pell Grant funds is the first day of attendance. Capri will not disburse funds prior to the start date. Capri issues books and equipment to students on the first day of class providing that all admissions and financial aid requirements are met. Books and equipment are included as part of the student's total expected cost for the program.
If the student or parent borrower wishes to cancel all or a portion of a loan, he or she must inform the school. A school must return the loan proceeds, cancel the loan, or do both, provided that the school receives the loan cancellation request within the following time-frames: the school obtains affirmative confirmation from the student, by the later of the first day of a payment period or 14 days after the date the school notifies the student or parent of his or her right to cancel all or a portion of a loan.
Generally, the loan will cover a full academic year at Capri. The College will make at least two disbursements according to the disbursement periods listed below. The disbursement of the loan money will be credited to the students school account to pay tuition, fees, room, board, and other authorized charges. If the loan disbursement amount exceeds your students school charges, the school will pay you the remaining balance of the disbursement directly by check or other means. In some cases, with your permission, the school may disburse some of the PLUS loan money directly to the student. Capri will issue a written receipt each time there is disburse on part of the loan and will provide information about how to cancel all or part of the disbursement if the money is no longer needed. You will also receive a notice from the U.S. Department of Education confirming the disbursement. You should read and keep all correspondence received concerning your loan.
Borrowers whose Direct PLUS Loan credit checks are processed on or after March 29, 2015 and who are denied based on an adverse credit history
- Can secure an approved endorser/ The endorser is subject to, and must pass, the same credit check as the applicant
- Can successfully appeal on extenuating circumstances
- In both cases, the applicant will be REQUIRED to complete PLUS Counseling available at studentloans.gov
PLUS Counseling MUST be completed before disbursement of the Direct PLUS Loan funds.
A completed PLUS Counseling session remains valid for the duration of the associated credit check.
Additional Information on Direct Plus Loans is available at: https://studentaid.ed.gov/sa/types/loans/plus/parent
Payment Periods in Clock Hours
In most cases disbursements are made over two or more payment periods.
The 1st disbursement covers 1–450 clock hours (Cosmetology, Teacher Training 1,000 hours)
The 2nd disbursement covers 451–900 clock hours (Cosmetology, Teacher Training 1,000 hours)*
The 3rd disbursement covers 901–1,200 clock hours (Cosmetology)*
The 4th disbursement covers 1,201–1,500 clock hours (Cosmetology)*
* In order to be eligible to receive multiple disbursements, students must have remaining eligibility for funds during the payment period of that award year.
Federal Student Loan Repayment Plans
Additional Information on Federal Student Loan Repayment Plans is available at: https://https://studentaid.gov/manage-loans/repayment/plans
HEERF GRANT I
Higher Education Emergency Relief Fund (HEERF I) Reporting: June 2020
HEERF Quarterly Budget and Expenditure Report under CARES Act Institutional Reporting: September 2020
HEERF Quarterly Budget and Expenditure Report under CARES Act Institutional Reporting: December 2020
HEERF Quarterly Budget and Expenditure Report under CARES Act Institutional Reporting: March 2021 Final Report
HEERF GRANT II
Higher Education Emergency Relief Fund (HEERF II) Section 314(a)(4) Reporting: June 2021
Higher Education Emergency Relief Fund (HEERF II) Section 314(a)(4) Reporting: March 2022 Final Report
Higher Education Emergency Relief Fund (HEERF II) Section 314(a)(1) Institution Funds; Proprietary institutions are no longer eligible to receive awards under the (a)(1) program.