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Family Contribution
The expected family contribution toward a student’s expenses is determined by using a federally approved formula.
The school will estimate this contribution for you at no cost, during your financial aid interview. The Institutional
Student Information Report is the official calculation of a student’s expected family contribution.

Financial Need
The official family contribution is subtracted from the student’s expenses, including tuition and fees. The remaining
amount is the student’s financial need. This formula determines the maximum amount the student can be awarded
in financial aid.

Financial Aid Selection
Eligibility for the Pell Grant and Direct Loan Program is determined based on the financial and household
information used in calculating your expected family contribution. FSEOG funds are reserved for those students
who demonstrate exceptional need and who have applied for all other sources of financial aid, but still have a
remaining need, to meet the costs of tuition, fees, kit, and textbooks.

Payment of Financial Aid
When the students are awarded financial aid, all proceeds are credited to the student’s account. Only after all
financial obligations to PB are satisfied will any balance be refunded.

The student will receive a notice of the amount of financial aid they are scheduled to receive and when the financial
aid payment is expected to be received.

After the initial financial aid payment, receipt of subsequent funds is dependent upon the student maintaining
satisfactory progress as outlined in this catalog and completing the necessary clock hours. Student accounts are
credited with financial aid awards at least twice, usually at the beginning of the program and at the midpoint of the
program’s academic year.

Financial Aid Appeals
The following is the appeal process for any student who feels that their financial aid application was not given
proper consideration.

The student submits an appeal in writing to the School’s Financial Aid Administrator.

The Financial Aid Administrator schedules a personal interview with the student.
The Financial Aid Administrator will review the appeal and the results of the
interview and will forward a recommendation to the School Director for final action.

The School Director will make the final decision, and notify the student
accordingly.

Financial Suspension and Past-Due balances
Students are financially responsible for the payment of all fees charged to their tuition accounts including, but not
limited to tuition, textbooks, uniforms, and all miscellaneous fees. A student’s balance is considered past due if it is
more than 30 days unpaid. A late fee of $10 will be charged to the student’s account. After 60 days’ delinquent, the
student will be suspended from training and will earn absent hours during the suspension. The period of suspension
shall not exceed 14 calendar days. At the end of the suspension if the account balance has not been brought current,
the student will be terminated.

Collections
When students have a balance with PB Cosmetology Education Centre, they initially are sent a monthly billing
statement. If the bill remains unpaid after 90 days, the student will be sent a final notice. Notices are sent via postal
mail, and are sent to the most current address the school has on file. It is the student’s responsibility to ensure his or
her information is accurate. If a student’s bill is unpaid for 90 days or more, it is subject to be sent to a collections
agency.

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