Financial Assistance

METHOD OF DISCLOSURE -

OFFICE RESPONSIBLE: FAO

LOCATION: STUDENT CATALOGUE AND WEBSITE

DOCUMENT LAST UPDATED: JULY 1, 2016

POLICY AND PROCEDURE LAST UPDATED: JULY 1, 2016


All Consumer Information is located on our website at www.vibebarbercollege.edu or www.vibebarbercollege.com and in our student catalogue. A notice of availability is distributed to each newly enrolled student in their new student packet and is distributed to all enrolled students annually in mid September.

Financial Assistance


DIRECT LOANS

The U.S. Department of Education provides loans through the Direct Loan Program to eligible students at participating schools to help them pay for education after high school.

Types of Direct Loans and FFEL Program Loans

You may have received more than one type of loan under the Direct Loan Program or FFEL Program. Each loan type has its own terms and conditions, such as interest rates. In addition, the names you may see on the documentation for your loans may differ slightly from the naming in the chart below. For example, subsidized and unsubsidized loans are frequently called “Stafford Loans.”


ENTRANCE COUNSELING POLICY

Title IV Financial Aid regulations require all recipients of Direct Loans to complete Direct Loan Entrance Counseling . Students can obtain a copy of the Department of Education's Direct Loan Entrance Counseling Guide in the Financial Aid Office or they can complete Entrance Counseling online at https://studentloans.gov/myDirectLoan/counselingInstructions.action in about 30-45 minutes. All VIBE students wishing to receive Direct Student Loans will be required to complete Entrance Counseling before their Loan Processing can begin.The Entrance Counseling session is designed to inform you of important information you should know before you borrow a loan. The information listed here is very similar to the information given in the Loan Entrance Counseling, but it can not be used as a substitute for actual Entrance Counseling.


Master Promissory Note

An MPN is a binding legal document that you must sign before receiving your first Direct Loan. The same MPN can be used to make one or more loans for one or more academic years (up to 10 years). Therefore, if you leave school and return, you may be able to receive additional loans without signing a new MPN. An MPN lists the terms and conditions under which you agree to repay the loan and explains your rights and responsibilities as a borrower. It’s important to read your MPN and keep it in a safe place because you’ll need to refer to it later when you begin repaying your loan or at other times when you need information about provisions of the loan.


Loan Disbursements

In most cases, your school will disburse the proceeds of your Direct Loan by crediting it to your school account to pay tuition and fees, room and board, and other authorized charges. If the loan disbursement amount exceeds school charges, the remaining balance of the disbursement will be paid to you directly by check or other means. You will be notified in writing each time your school disburses a portion of your loan. The notification will include :

EXIT COUNSELING POLICY

Title IV Financial Aid regulations require all recipients of Direct Loans to complete Direct Loan Exit Counseling before graduating or dropping below half time enrollment. Students can obtain a copy of the Department of Education's Direct Loan Counseling Guide in the Financial Aid Office or they can complete Exit Counseling online at https://studentloans.gov/myDirectLoan/counselingInstructions.action in about 30-45 minutes.

Exit counseling is designed to give the borrower important information on their loan repayment and to ensure that your lender has your current information. The information listed here is very similar to the information given in the Loan Exit Counseling, but it can not be used as a substitute for actual Exit Counseling. Knowledgable staff in the Financial Aid office are available during office hours to answer any questions students may have before or after completing Exit Counseling.

Students that received Direct Loans and are eligible for graduation from VIBE or want to officially withdraw from VIBE are required to show proof of electronic completion of Loan Exit Counseling online at https://studentloans.gov/myDirectLoan/counselingInstructions.action or they will be required to read and complete the forms found in the Dept. of Ed. Exit Counseling Guide before being allowed to withdraw or graduate. The Exit Counseling Guide is available in the VIBE Financial aid Office.

If a student who has received a Direct Loan unofficially withdraws from VIBE Barber College without any notification they are still required to complete Direct Loan Exit Counseling. VIBE will mail Exit Counseling materials to their last known address within 30 days of the date it is determined they withdrew from VIBE or failed to complete the required Exit Counseling .


REPAYMENT

Repayment is the process of satisfying your obligation to pay back the money you borrowed to help you in paying for your education. For subsidized and unsubsidized loans, repayment begins when your grace period ends. You repay your loan according to a repayment plan set up and agreed upon between you (the borrower) and your lender. The repayment plan you choose determines the amount you pay each month and the number of payments you must make. The maximum time period over which you must repay your federal student loan is the repayment period. The repayment period can range from 10 years to 30 years, depending on loan amount, loan type, and repayment plan. Your lender (the U.S. Department of Education) will give you a choice of standard, graduated, or income-sensitive repayment plans not earlier than six months before the date of the first scheduled loan payment. If you don’t choose a plan within 45 days of the lender’s offer, the lender will use the standard repayment plan. Even if you don’t choose a particular plan, you may reach an agreement with your lender to repay all of your loans under one repayment schedule. You can change your repayment plan annually.


Comparing Repayment Plans

There are several key differences between the repayment plans, but the most important differences are your monthly payment and the total amount of interest that you’ll be repaying.

VIBE Barber College will forward the borrower's current information concerning name, address, social security number, references, and driver's license number and State of issuance, as well as the borrower's expected permanent address, the address of the borrower's next of kin, and the name and address of the borrower's expected employer (if known) to the Department of Education within 60 days of receipt from the borrower and to any servicer or lenders associated with the borrower's outstanding loan debt as requested. This information is submitted to the National Student Loan Data System (NSLDS) and is accessible by authorized agencies, lenders, and institutions.


VIBE Barber College offers the following books for the Barber course.

Milady's Standard Professional Barbering Textbook Hardcover

ISBN-13: 978-1-4354-9715-3

ISBN-10: 1-4354-9715-5

Milady's Standard Professional Barbering Exam Review

ISBN-13: 978-1-4354-9712-2

ISBN-10: 1-4354-9712-0

The Textbook and Exam Review book are both available for purchase online at amazon.com or barnesandnoble.com


Voter Registration

VIBE Barber College will hand out voter registration forms to all enrolling students and will do a presentation every Constitution day discussing the importance of voter registration and voting. We will also hand out voter registration forms during the presentation as we did during our 2015 Constitution Day presentation.

Constitution Day: Federal Constitution day is September 17th of each year . VIBE Barber College observes Constitution Day that week with a presentation on the U.S. Constitution.

RESOURCES

Education is a big investment. The training you’ll receive at Bucker barber School increases your chance of finding a great career. And it decreases your chance of being unemployed. You will be more likely to find an interesting, rewarding career in a field that offers a lot of opportunity. When you graduate from VIBE, you stand a better chance of finding a job and making more money than your peers with less education. Combine that with greater opportunities for job satisfaction, and your VIBE training becomes an investment that is hard to beat.


Financial Aid is available to those who qualify;

FEDERAL PELL GRANTS are monies given to people to help pay for school awarded based on financial need.

DIRECT LOANS are borrowed monies through the U.S Department of Education that must be repaid (with interest)

DIRECT SUBSIDIZED LOANS are awarded to student who show financial need and don’t accrue interest while the student is in school. You have six months grace period after you graduate, withdraw or drop below half-time.

DIRECT UNSUBSIDIZED LOANS are available to all student, regardless of financial need. Interest does accrue on this loan while the student is in school.

DIRECT PLUS LOANS are only available for parents of Dependent Student. Financial need is not a consideration, but a credit check is required.

PRIVATE/ALTERNATIVE LOANS can provide additional funding to assist student with their education. These are generally provided by banks and credit unions and other private lending institution. Information on these loans can be found on the web at a site like www.fastweb.com.

SCHOLARSHIPS are provided by some companies, professional associations, and religious groups to individuals or their family members seeking assistance paying for their education. Searching the internet is a great way to see what might be available to you.

 

“All options above are not available for every student. Please contact the office of Financial Aid for further information.

Apply for Financial Aid

Financial Aid is available for those who qualify. In order to apply for Federal Financial Aid you must complete a Free Application for Financial Aid (FAFSA). This can be done by submitting a paper FAFSA by calling and requesting one at 1-800-4-FED-AID or on the web at www.fafsa.ed.gov. Federal Financial Aid awards and amount are based on the information provided by the student on his/her FAFSA and are determined by the Department of Education.

VIBE’S School Code for the FAFSA is 042152

Satisfactory Academic Progress (SAP) Policy

All students enrolled in VIBE Barber College must maintain Satisfactory Academic Progress according to the requirements set forth in this policy. Federal regulations require all schools participating in Federal Financial Aid Programs monitor SAP periodically. In order to be considered making Satisfactory Academic Progress (SAP) a student must maintain a grade point average of at least 70% and be in attendance at least 67% of the scheduled hours for a course. Students will be evaluated at the end of each payment period (at the midpoint and end of a course for courses less than 1 academic year). A student must complete the required hours and attend the required number of weeks in order to complete a payment period and be evaluated. VIBE defines an academic year as 900 clock hours/30 weeks. Students enrolled in the Class A Barber course will be evaluated after completion of the following:

1st Academic Year (900 hours/30 weeks)

2nd Academic Year

SAP is measured by evaluations in accordance with the school’s published policies. The standard is the same whether the student is receiving Federal Financial Aid or not. The two components of SAP, which weigh equally in student evaluations, are:

Quantitative Measurement - Attendance requirements

Qualitative Measurement - Academic requirements

Student academic progress is based on theoretical and practical assignments required for course completion. Students failing to make satisfactory progress are counseled on ways to improve and achieve satisfactory progress.

Theory is evaluated after each unit of study. Practical assignments are evaluated as completed and counted toward course completion only when rated as satisfactory or better. Practical skills are evaluated according to text procedures, performance standards established by the state licensing agency, and the Practical Barber skills competency Evaluation Numerical grades are considered according to the following scale


WRITTEN AND PRACTICAL:

o A.........Excellent………. 90-99 %

o B.........Good………...…. 80-89 %

o C.........Passing ……….....70-79 %

o F.........Failure ………….. below 69%


The school will determine if the student has maintained at least 67% cumulative attendance since the beginning of the course which indicates that, given the same attendance rate, the student will graduate within the maximum time frame allowed.

Based on a 67% rate of attendance, the maximum time allowed for students to complete each course at satisfactory progress is 1.5 times the course length. All hours, including transfer hours are considered toward completing within 150% of the course length.


Determination of Progress Status

Students meeting the minimum requirements for attendance, required weeks and academics are considered to be making satisfactory progress until the next scheduled evaluation. In order for a student to be considered making satisfactory progress as of course midpoint, the student must meet attendance, number of specified weeks and academic requirements on at least one evaluation by the midpoint of the course, or the midpoint of the academic year, whichever comes first. Students must maintain satisfactory progress to receive federal financial aid.

APPEAL PROCESS

Financial aid ineligibility can be appealed if you have suffered undue hardship. In order for an appeal to be considered, your circumstances must meet at least one of the criteria below. Please indicate below which situation(s) best applies to the hardship you experienced. In addition, ALL appeals must be submitted with supporting documentation. The documentation must be attached to the appeal at the time the appeal is submitted. Examples of acceptable documentation are listed below. The documentation should be attached to the appeal at the time the appeal is submitted.

Circumstance(s) that Apply

Required Documentation

(must include dates)

Severe illness, medical condition or injury

Signed and dated letter from physician with office letterhead or copy of accident report

Death of a family member

Death certificate or dated obituary

Life altering event (fire, tornado,...etc.)

Insurance claim or FEMA application

Military assignment or reassignment

Statement of service signed by commanding officer or military orders

Other circumstances beyond the control of the student (must explain in detail the nature and dates of the uncontrollable circumstances)

Appropriate documentation which will verify the situation

Appeals must be submitted no later than 14 calendar days after a student receives his SAP evaluation and is notified of his/her Financial Aid ineligible status.

Once the School Director receives the appeal, they will evaluate the appeal and provide a decision within five (5) business days. The School Director will notify the student in writing of the decision and that decision may not be appealed. If student prevails in the appeal process he will be placed on probation for subsequent pay period. At the end of one payment period on financial aid probation, the student must meet the institution's satisfactory academic progress standards or meet the requirements of the academic plan developed by the institution and the student to qualify for further Title IV program funds.

Maximum Time Frame:

From the beginning of the enrollment period, progressing forward, student must be progressing at a pace that leads to completion within 150% of the published program length. Should a student’s progress at any point

demonstrate that the program can’t be completed within 150% of the program he/she becomes ineligible for Title IV. Under such circumstances the student become totally responsible for fees owed the school.

Student is subject to loss of eligibility for failure to maintain SAP

REINSTATEMENT OF AID

Is limited to the period under evaluation. Students making SAP by the conclusion of the Warning or Probation period will be removed from the warning/probation status and will regain eligibility for Title IV aid.

Interruption of Training– LOA or Withdrawal

If enrollment is temporarily interrupted for a Leave of Absence (LOA), the student returns to school in the same progress status as prior to the leave of absence.

Days elapsed during an approved LOA will extend the student’s contract end date by the same number of days taken in the LOA and will not be included in the student's cumulative attendance percentage calculation.

Students who withdraw prior to completion of the course of study will re-enter at the same progress status as applicable at the time of withdrawal.

Students who fail to return from an LOA as scheduled will have an Unofficial Withdrawal on the date they were scheduled to return from the LOA.

Title IV Financial Aid will not be disbursed while a student is on a LOA Course incompleteness, course repetition, and non-credit remedial courses are not available at VIBE.

Students who meet the minimum quantitative (attendance) and qualitative (academic) requirements are considered to be making satisfactory academic progress until the next scheduled evaluation. Students not maintaining minimum SAP requirements will be subject to the following.

1) A student who does not meet SAP requirements for a payment period will be placed on Financial Aid Warning. The student will be considered still in SAP until the next evaluation and is eligible to receive Financial aid for the subsequent payment period.

2) A student who is on Financial Aid warning and fails to meet SAP requirements for the next evaluation is not in SAP and loses their Financial Aid eligibility. The student is allowed to appeal their ineligible status by submitting an appeal letter to the school Director that explains why the student did not meet SAP requirements on the basis of: his/her injury or illness, the death of a relative, or other special circumstances. The appeal must explain why he/she failed to make satisfactory progress and what has changed in his/her situation that will allow them to make satisfactory progress at the next evaluation. If ,thru the appeal process; it is determined that the student should be able to meet the minimum SAP requirements by the end of the subsequent payment period the student will be placed on Financial Aid Probation, is considered to be in SAP and is eligible to receive Financial Aid for the subsequent payment period.

3) A student who is on Financial Aid Probation and fails to meet SAP requirements for the next evaluation is not in SAP and loses their Financial Aid eligibility. The student will not be eligible to receive Financial Aid until the student has met the minimum SAP requirements by increasing their attendance and/or GPA (cash payment may be required during this period).

This policy is established and maintained for all students in attendance at the school enrolled in a COE approved program and/or receiving Title IV funds. This policy complies with the guidelines established by National Accrediting Commission of Career Arts and Sciences (NACCAS) and the federal regulations established by the United States Department of Education. All students receiving Title IV funding must be in Satisfactory Academic Progress in order to continue to receive funding!

Transfer hours

Hours transferred to VIBE Barber College will be counted as both hours attempted and hours completed when calculating SAP.

All outstanding debts due VIBE must be paid in order for students wishing to transfer from Buckner Barber to be provided with a transcript of hours, grades, and completed work.

Student Cancellation & Institutional Refund Policy

If a student cancels his/her enrollment prior to entering classes, he/she shall be entitled to a refund of all monies paid to the school, less the registration fee.

If a student or his/her parent or guardian (of a student under 21 years of age) cancels his/her enrollment and demands his/her money back in writing or in person within 72 hours of signing the agreement and prior to entering classes, all monies collected will be refunded less the registration fee. The cancellation date will be determined by the postmark on written notification, or the date said information is delivered to the school director/manager in person. This policy applies regardless of whether or not the student has actually started training.

For students who enroll in and begin classes, the following method of calculating refunds is authorized.

A. A refund is based on the period of the student’s enrollment, computed on the basis of course time expressed in the student’s last day of physical attendance in the school.

B. If a student who begins a course of training is scheduled to run not more than 12 months withdraws from the course or is terminated from the course by the school. The school may retain 100% tuition and fees paid by that student and is not obligated to refund any additional outstanding tuition.

C. If the school cancels a course all monies shall be refunded to the student.

D. If the school does not accept applicant a full refund of all moneys paid shall be refunded.

If a student cancels his/her contract after three business days after signing the contract, but prior to entering classes, he/she shall be entitled to a refund of all moneys paid to the school less a registration or enrollment fee of (Barber course $150.00) (Instructor course $150.00). If the student withdraws or is terminated during the first 50 percent of the course, the school shall refund the following percentages, of any outstanding tuition.

If a credit balance is created by the disbursement of Title IV funds and a refund is due the student it will be made within fourteen (14) days as required by the Department of Education. All other refunds shall be made within thirty (30) days.


Enrollment time is defined as the time elapsed between the actual starting date and the date of the student’s last day of physical attendance in the school.

Any monies due the applicant or student shall be refunded within 30 days of formal cancellation by the students , or formal termination by the school, whichever shall occur no more than 30 days from last day of physical attendance, or in the case of a leave of absence, the documented date of return.

The cost of extra items to the student such as instructional supplies or equipment, service charges, student activity fees, deposit, rentals and other charges are itemized separately in enrollment agreement; catalog or in other data furnished the student before enrollment.

Books and equipment kits may be purchased elsewhere at the student’s option. In cases of illness or disabling accident, death in the immediate family or other circumstances beyond the control of the student, the school makes a settlement, which is reasonable and fair, to both.

A payment plan is available through the school. See the financial aid director for details.

Withdrawal From VIBE

Any student wishing to withdraw from the school must inform the school administration or the admissions director. Any such withdrawal must be made in writing using VIBE Barber College withdrawal or drop form. If the student is under legal age, the parent or guardian must submit the withdrawal notice in the office. A student is considered withdrawn after 10 consecutive school days of unexcused absence from the school ( 14 calendar days).

Also, if a student withdraws from the school and wishes to re-enroll in the same school, he/she must complete a re-enrollment application. A student will be charged a re-enrollment fee of $150.00 to be paid to VIBE Barber College. The student must also pay any outstanding balance of tuition and other fees due before returning to school.

COURSE INCOMPLETE, WITHDRAWALS, REPETITIONS AND REMEDIAL COURSES, TRANSFER HOURS:

Course incomplete, repetitions and non-credit remedial courses do not apply to this institution’s form of instruction. The school does not issue incomplete and does not offer non-credit remedial courses. Students do not repeat courses. All hours attended are considered attempted. It is not possible for students to withdraw from individual subjects. Students withdrawing from school will received credit for all work successfully completed up to the point of withdrawal. Transfer hours will be counted as hours attempted and hours completed.

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