Empire Education Group Offers Students Direct Lending In Response To The Economy

October 1, 2008 -Empire Education Group implemented a Direct Lending Program, funded through the government’s U.S. Department of Education, to offer potential Empire Beauty School students additional financing options toward their secondary education.

The move to Direct Lending allows cosmetology students more access to affordable federal funding. In regards to personal financial problems and in light of the changing economy many credit unions, banks and other financial institutions have elected to no longer participate in the Federal Family Education Loan Programs. In order to assist Empire’s students having difficulty acquiring loans and other types of financial assistance, Empire Education Group’s Direct Lending Program offers students a reasonable solution to finance their cosmetology education.

Direct Subsidized and Unsubsidized Stafford and PLUS loans are available through the Direct Lending Program, which is one of the Federal Student Aid (FSA) programs provided by the Department of Education. The Stafford Loan is granted on the basis of financial need and is subsidized by the government. Direct Subsidized Loans are not charged interest while a student attends school, during a grace period or during a deferment period. Unsubsidized Loans do, however, accrue interest during all periods. 

The PLUS Loan or Parent Loan for Undergraduate Students is a federal loan allowing parents to finance a dependent without borrowing against their assets.

Empire Education Group hosts a team of Financial Assistance Advisors and Coordinators to guide students through the financial aid application process, and presents the company’s Direct Lending Program and other financial resource options which are available to students who qualify.