Massage Therapist Program

Financial Aid

Federal Direct Student Loans – Please be informed that all federal financial aid services on the internet are FREE: To Apply: https://fafsa.ed.gov/

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What is the Federal Direct Student Loan Program (FDSLP)?
In the past, Federal Stafford loans could be processed through the Federal Family Education Loan program (FFEL), in which students and parents borrowed from private lenders and banks that were guaranteed by the federal government. In February 2010 President Obama made changes so that students could no longer receive FFEL funds. Students/parents must participate exclusively in the William D. Ford Federal Direct Loan program, in which borrowers obtain loan funds directly from the U.S. Department of Education.  

  • Federal Direct Subsidized Loan Subsidized loans are for students that have demonstrated financial need by federal regulations. No interest is charged while students are enrolled in school and during the first 6 month grace period after graduation and during any deferment periods.
  • Federal Direct Unsubsidized Loan
    Unsubsidized loans are not based on the student's financial need.  Interest will accrue on this loan once funds are disbursed. You may have the interest accrue until repayment begins at which time the interest will become capitalized. 

How much can I borrow? Below is a chart with the Maximum Annual Loan and Pell Grants that a student may be eligible for at Sage School of Massage & Esthetics, LLC according to federal regulations.

740 Hour Massage Program


  Maximum Annual Loan Limits

 Pell Grant

 Unsubsidized Loan

 Subsidized Loan

$4854

$4933

$2878

900 Hour Massage Program


  Maximum Annual Loan Limits

 Pell Grant

 Unsubsidized Loan

 Subsidized Loan

$5920

$6000

$3500

Esthetics Program


  Maximum Annual Loan Limits

 Pell Grant

 Unsubsidized Loan

 Subsidized Loan

$4914

$5000

$2917

 

What are the interest rates? Direct Loans for undergraduates with a disbursement date between July 1, 2017 and June 30, 2018, the interest rate is a fixed 4.45% and  Parent Plus Loans are a fixed 7%.

What are loan fees? As of October, 2016, the Department of Education will charge a 1.069% loan origination fee deducted from each loan disbursement for the processing of the loan.  Parent Plus Loan origination fees are 4.276%. 

Do Direct Loans have to be paid back? Yes.  After students graduate or drop out of school, the 6 month grace period will begins.  During this 6 month grace period students will receive repayment information and the due date of the first payment.  At any time during the grace period or after the student drops the program, he/she may be eligible for a deferment of payments.  Students are encouraged to contact the U.S. Department of Education Servicer for deferment options.