IM Beauty School Receives FAFSA Authorization. IM Beauty School (Principal: Isabella Lee, President: Warren Sohng), located on the second floor of Central Market Mall in Glenview, IL.
The FAFSA is a program through which the federal government subsidizes tuition, fees, and other necessary living expenses for low-income students through graduation.
To be eligible for the FAFSA program, schools must meet all federal requirements. This includes the financial status, student-faculty ratio, curriculum and operations, and graduation status of technical schools for at least two years and is eligible to operate the program.
Financial aid eligibility and amounts are prioritized for low-income students, but the government does not currently limit student and parental income, meaning that anyone can apply for FAFSA financial aid, regardless of age or income.
There are two types of financial aid: grants and loans. Grants are awarded based on the student’s and family’s income, and loans are granted to almost anyone. Grants do not have to be repaid to the government, but loans must be repaid after graduation and employment.
I M Beauty School, which opened its doors in 2018, was approved by the federal government to issue I-20s to foreign students in July 2020, just two years after opening. After receiving full accreditation from the National Accrediting Comission of Career Arts & Sciences (NACCAS) in March 2022, I M Beauty School was finally granted FAFSA operator status in November 2023. I M Beauty School is now in full swing, helping students start their careers without the financial barrier.
I M Beauty School has been working hard to gain FAFSA eligibility since the year after it was founded. This means that now, I M beauty School has become a federally accredited scool in all aspects. “We are thrilled to be able to offer more students the opportunity to learn,” said Isabella Lee, the school’s president, in a statement. “As we have always done, we will continue to work humbly to connect learning opportunities and jobs for all those who want to learn the art of cosmetology.”
As this is the first year of FAFSA approval, I M Beauty can only provide financial aid for the Cosmetology program. After 2024, I M Beauty will be positioned to be able to offer financial for more programs, as long as they are longer than 600 hours long.