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Financial Resources
Financial Support
We believe that you and your future are worth investing in. At Mandalyn Academy, we understand that education is a significant financial commitment, and we’re dedicated to helping you make it attainable. While some students choose to pay tuition and fees upfront, most receive some form of financial assistance through public or private grants, scholarships, or loans.
Our Financial Aid Department assists students in identifying eligible programs, applying for aid, and planning their tuition payments with personalized support. Whether you qualify for federal funding, private loans, or in-house payment plans, our goal is to ensure your education in beauty & spa training in American Fork is both affordable and accessible.
For more information on Financial Assistance go to our Student Consumer Information Guide.
Tuition Payment and Financial Aid Options
There are many Mandalyn Academy financial aid options available to meet the diverse needs of our students. Our Financial Aid Office will guide you step-by-step through the process of selecting and applying for the right option.
Federal Aid Programs
Students who qualify for federal financial assistance can apply online at studentaid.gov using School Code #041619. We offer four types of federal financial
Pell Grants
For students who demonstrate financial need, Pell Grants provide up to $6,895 per academic year (900 hours). Grants do not need to be repaid unless the student withdraws before completing the program.
Direct Subsidized Loans
Subsidized loans are low-interest, need-based loans. The federal government pays the interest on these loans while you are enrolled in your program. For students who do not qualify for subsidized funds, additional unsubsidized funds are offered. The current interest rate is 4.99% (until July 2023), and no credit check is required.
Direct Unsubsidized Loans
Unsubsidized loans are available to most students. Interest begins accruing as soon as the funds are disbursed, though students may choose to capitalize the interest until after graduation. The current interest rate is 4.99%.
Parent PLUS Loans
Dependent students may have a parent apply for a Parent PLUS Loan to help cover tuition and fees. Interest accrues immediately, and payments begin once the loan is disbursed. The current interest rate is 7.54%, and the parent’s credit is checked during the application process.
If you experience unique financial circumstances that impact your eligibility (such as income changes or family hardship), you may request a Professional Judgment Review. This allows our Financial Aid Officer to adjust your financial data for a more accurate evaluation. To request a review, contact finance@mandalynacademy.com.
Additional Financial Assistance Options
Not every student qualifies for federal aid, but that doesn’t mean your education is out of reach. This academy offers a variety of alternative financing options designed to fit your budget
Private Institutions
Some banks, credit unions, and private lenders offer student loans for educational expenses. Our Financial Aid Director can help you compare federal and private loan terms to find the most favorable option for your situation
Cash Pay
Students may choose to pay tuition in full at the start of their program. We accept personal checks, cashier’s checks, money orders, credit cards, or cash payments.
In-House Financing
For students unable to secure a private loan, our academy provides an in-house payment plan. This option includes a down payment, monthly payments, and a final balloon payment approximately three-quarters through the program.
Direct Unsubsidized Loans
Unsubsidized loans are available to most students. Interest begins accruing as soon as the funds are disbursed, though students may choose to capitalize the interest until after graduation. The current interest rate is 4.99%.
Parent PLUS Loans
Dependent students may have a parent apply for a Parent PLUS Loan to help cover tuition and fees. Interest accrues immediately, and payments begin once the loan is disbursed. The current interest rate is 7.54%, and the parent’s credit is checked during the application process.
If you experience unique financial circumstances that impact your eligibility (such as income changes or family hardship), you may request a Professional Judgment Review. This allows our Financial Aid Officer to adjust your financial data for a more accurate evaluation. To request a review, contact finance@mandalynacademy.com.
Department of Veterans Affairs Education Benefits
Veterans and their dependents can apply for educational benefits through the Department of Veterans Affairs at va.gov/education/how-to-apply. Our trained School Certifying Officials (SCOs) assist applicants through the process to ensure benefits are applied correctly.
Vocational Rehabilitation Services
The Utah State Office of Rehabilitation assists eligible individuals in gaining employment and independence through financial and vocational support. Visit jobs.utah.gov/vr for details.
Alpine School District High School Student Scholarship Program
High school students in the Alpine School District may qualify for a partial-tuition scholarship, which is matched by Mandalyn Academy. These scholarship programs are designed for students who are not eligible for federal financial aid. Students must contact their high school counselor for eligibility requirements.
Tuition Policy
Tuition is due at the time of enrollment unless otherwise contracted. All paperwork related to state licensing will be released once tuition has been paid in full.
Direct Unsubsidized Loans
Mandalyn Academy is committed to maintaining the highest ethical and professional standards in its financial practices. Our Code of Conduct ensures transparency and fairness when assisting students with federal and private loan options.
We prohibit:
- Revenue-sharing agreements with any lender.
- Steering borrowers to specific lenders or delaying loan certification.
- Accepting offers of funds for private loans in exchange for preferred lending status.
- Financial aid staff receiving gifts or compensation from lenders or loan servicers.
Our policies guarantee unbiased guidance and compliance with all state and federal financial aid regulations.
How to Apply for Financial Aid?
The financial aid process is designed to be easy and accessible. Our team works closely with you to ensure you understand your options and receive the assistance you qualify for.
- Schedule an Appointment: Contact our Financial Aid Department at 801-772-3131 or email finance@mandalynacademy.com to review your eligibility.
- Complete the FAFSA: Visit studentaid.gov and use Mandalyn Academy’s School Code #041619 to submit your Free Application for Federal Student Aid.
- Provide Documentation: Gather identification, income verification, and other necessary paperwork.
- Review Your Options: Our Financial Aid Officer will review your results, explain available aid, and assist with any required forms.
- Finalize Enrollment: Confirm your tuition plan and prepare for your first day of class.
Faqs
What types of financial aid are available at Mandalyn Academy?
Students may qualify for Pell Grants, Direct Loans, Parent PLUS Loans, scholarships, private loans, and in-house financing options depending on financial eligibility.
How do I apply for financial aid at Mandalyn Academy?
Complete the FAFSA at studentaid.gov using school code #041619, then schedule a consultation with our Financial Aid Department for further assistance.
Who qualifies for Pell Grants at Mandalyn Academy?
Students who demonstrate financial need based on FAFSA results may receive Pell Grants. These funds do not need to be repaid unless the student withdraws early.
Can I use Veteran Benefits at Mandalyn Academy?
Veterans and dependents may apply for VA education benefits with assistance from our School Certifying Officials to simplify the process.
Does Mandalyn Academy offer scholarships for high school students?
High school students in the Alpine School District may qualify for partial-tuition scholarships matched by Mandalyn Academy. Contact your high school counselor for eligibility details.
What if I don’t qualify for federal aid?
Alternative funding options, including private loans and in-house payment plans, are available to make education more accessible for every student.