234 E. 3rd Street Waterloo, IL 62298

PHONE: (618) 939-0322
FAX: (618) 939-0323


234 E. Third Street
Waterloo, IL 62298
Phone: (618) 939-0322

School Hours
Full Time:
Tuesday - Saturday
9:00am - 4:30pm

Part Time
Tuesday - Saturday
9:00am - 1:00pm

Salon Hours
Tuesday - Friday
10:00am - 4:00pm

9:00am - 4:00pm


The philosophy of student financial aid at Creative Touch Cosmetology School supports career preparation education of the student.  Our objective is to help the student prepare for a productive career so that he/she is qualified for a beginning position through job performance or additional education he/she has acquired while on the job.

The following are the guiding principles of the student aid programs at our school:

  • The primary purpose of student financial aid is to provide assistance to qualified students who would be unable to attend this school without such aid.  Students and their parents and/or spouse are expected to take primary responsibility for the financing of the student’s education.  Therefore,any aid the student may receive from our Creative Touch Cosmetology School should be regarded as supplemental to that which can be provided by student and his/her parents and/or spouse.
  • The school also believes in the principles of student self-investment.  Students are expected to save and provide a portion of their earnings for their educational expenses.
  • The office of Student Financial Aid provides counseling for students and their parents and/or spouse who desire assistance in financial planning to meet educational expenses.
  • This program admits students of any race, color, age, national and ethnic origin, to all.  The rights and privileges, programs and activities generally accorded or made available to students at the school.  It does not discriminate on the basis of race, creed, religion, color, age,marital status, national and ethnic origin in the administration of its educational policies, admission policies, scholarship and loan programs and other school administration programs.
  • This Creative Touch Cosmetology School is committed to maintaining a DRUG ABUSE prevention program accessible to any EMPLOYEE or STUDENT.


The primary purpose of our financial aid programs shall be to provide financial assistance to our accepted students who, without such aid would be unable to attend our school.

  • We recognize our obligation to assist in realizing the national goal of equality of educational opportunity.
  • We, therefore, work with schools, community groups and another educational institutions in support of this goal.
  • We shall publish budgets that state total student expenses realistically; including where applicable, maintenance at home,commuting expenses, personal expenses and necessary travel.

Parents are expected to contribute according to their means, taking into account their income, assets, number of dependents and other relevant information.  Students themselves are expected to contribute from their own assets and earnings,including appropriate borrowing against future earnings.

Financial aid will be offered only after determining that the resources of the family are insufficient to meet the student’s educational expenses, the amount of aid offered will not exceed the amount “needed” to offset the difference between the student’s educational expenses and the family’s resources.

The amount of any type of self-help expected from students will be related to the circumstances of the individual.  In the assignment of funds to those students designated to receive financial aid, the largest amounts of total grant assistance will be awarded to students with least ability to pay

We shall review our financial assistance awards annually and adjust them, if necessary, to reflect changes in the financial need of the student and the expenses of attending the school.  We will inform students and parents of the financial aid renewal policies for enrolled students at the time of the initial offer of financial assistance as it may be necessary for some students, based upon their enrollment date, to complete a second Free Application for Federal Student Aid (FAFSA).

Because of the amount of financial assistance awarded reflects the economic circumstances of the student and his/her family,  we will refrain from any public announcements of the amount of aid awarded and encourage the student and others to respect the confidentiality of this information.

All documents, correspondence and conversations between and among the aid applicant, his family and financial aid officer are confidential and entitled to the protection ordinarily arising from a counseling relationship.

Creative Touch Cosmetology School is committed to its drug abuse prevention program. and supports its accessibility to any officer,employee or student.


Students interested in applying for financial aid to assist them with tuition and school related expenses, need to file the Free Application for Federal Student Aid (FAFSA) at www.fafsa.ed.govthen contact the Financial Aid Office at 740-289-5869 for an appointment to review eligibility.


Financial Aid Office:  (618)-939-0322
Pat McDonald, Financial Aid Administrator
Office Hours: Wednesday after 5pm
(best reached by e-mail)

Federal Pell Grant Program

Students wishing to apply for financial aid may visit the Financial Aid Office at the school where students are encouraged to apply for the Federal Pell Grant Program. The Pell Grant is a Federal grant given with no repayment expected. This program is designed to provide a “floor”upon which other financial aid programs are built. Any student wishing to receive a Federal Pell Grant, as well as, Federal Direct Loan must meet the eligibility requirements established by the U.S. Department of Education. To be considered for a Federal Pell Grant a student must complete the Free Application for Federal Student Aid(FAFSA). The FAFSA may be completed on-line at or a paper application may be used. FAFSA forms are available in the Financial Aid Office or other public places such as a library.  Not all students will qualify for a Federal Pell Grant.
An Award Notification letter will be provided to the student indicating the type and the amount of aid awarded.

Federal Loan Programs

William D Ford Federal Direct Loan Program

Subsidized Loan – A subsidized loan is awarded on the basis of need. A student may be eligible to request a maximum of $3,500 per year for the first year of undergraduate study. Programs of less than 900 clock hours will be prorated down based on the number of hours in the student’s program. The federal government pays the interest during authorized periods of deferment.  Repayment will begin six months after the borrower ceases to be enrolled at least half-time.

Unsubsidized Loan – An unsubsidized loan is not awarded on the basis of need, and the student is responsible for paying the interest during in-school, deferment, grace, and repayment periods. The unsubsidized loan is the difference between the cost of attendance and other aid (including subsidized loan) not to exceed $5,500 for a dependent student and $9,500 ($3,500 Sub & $6,000 Unsub) for a first year independent student. Repayment will begin six months after the borrower ceases to be enrolled at least half-time.

Federal Parent Loan to Undergraduate Student (PLUS) -PLUS loans are meant to provide additional funds to dependent students for education related expenses. Parents may borrow up to the cost of education, minus other aid received by the student. Repayment begins approximately sixty days after final loan disbursement is made.

To receive a Federal Loan, a student must complete the FAFSA and loan application (Master Promissory Note). If the student is dependent, and the parentis borrowing loan funds on behalf of the student, the parent must also complete entrance counseling and the Master Promissory Note on-line at Some of the information a borrower must provide are his or her name, address, date of birth, Social Security Number, and driver’s license number, e-mail address, as well as next of kin and two personal references. The loan application is the promissory note in which the student or borrower must read and sign 2) It takes about 20-30 minutes for the student to complete the entrance counseling quiz. The FA Officer instructs the student to take the quiz on their own.

All Federal loans will be reported to the U.S. Department of Education’s National Student Loan Data System as part of the student’s financial aid history. This information will be accessible to authorized agencies, other post-secondary institutions, lenders and Federal loan servicing agencies.


Recipients of the subsidized and the unsubsidized Family Federal Education Loans must attend entrance and exit loan counseling. Information provided to students includes but is not limited to:

  • Entrance Interview
  • Exit Interview
  • Overview of all sources of aid.
  • Financial planning for loan repayment
  • Terms/conditions of various loan programs.
  • Loan repayment obligations
  • Loan application process
  • Repayment options
  • Repayment obligation
  • Deferment/Forbearance/Cancelation provision
  • Obligation to keep lender informed
  • Obligation to keep lender informed
  • Obligation to maintain satisfactory progress
  • Consequences of delinquency/default
  • Personal financial planning
  • Name and address of lender
  • Importance of keeping loan documents
  • Estimated monthly payment information
  • Borrower’s rights and responsibilities
  • Consequences of delinquency/default


The chart below gives estimated payment amounts for Stafford and Plus Loans.  It is based on immediate repayment and a maximum repayment period of ten (10) years. Numbers are approximate due to rounding.

Federal Loan Repayment Plans

  • Standard Repayment Plans  Under this plan, you will pay a fixed amount of at least $50 each month for up to 10 years. This plan results in the lowest total interest paid of any repayment plan. If you have not selected a repayment plan by the time repayment begins, your loan(s) will be placed on the Standard Repayment Plan.
  • Graduated Repayment Plan  Under this plan, you will pay a minimum payment amount at least equal to the amount of interest accrued monthly for up to 10 years.  Your payments will start out low, and then increase every two years. Generally, the amount you will repay over the term of your of your loan will be higher under the Graduated Repayment Plan than under the Standard Repayment Plan.  This plan may be beneficial if your income is low now but is likely to steadily increase.
  • Income Contingent Repayment (ICR) Plan  ICR is a repayment plan that bases your monthly payment on your annual adjusted gross income (AGI), family size and total Direct Loan amount.  As your income increases or decreases, so do your payments. After 25 years, any remaining balance on the loan will be forgiven, but you may have to pay taxes on the amount forgiven.
  • Income Based Repayment (IBR) Plan   Income-Based Repayment (IBR) plan bases your monthly payment on your yearly income and you must have a partial financial hardship to enroll. This plan is an alternative to the Income Contingent Repayment (ICR) Plan and is designed to make repaying education loans easier for students who intend to pursue jobs with lower salaries, such as careers in public service. It does this by capping the monthly payments at a percentage of your discretionary income. Like ICR, after 25 years of qualifying repayment, any remaining balance on the loan will be forgiven, but you may have to pay taxes on the amount forgiven

Extended Repayment Plans

  • Fixed Monthly Payment Option  Under this plan, you will pay a fixed amount of at least $50 each month for up to 25 years. To be eligible for this plan, your Direct Loan balance must be greater than $30,000. Repayment under this plan will result in lower total interest paid when compared to graduated plans with similar terms.
  • Graduated Monthly Payment Option  Under this plan, you will pay a minimum amount of at least $50 or the amount of interest accrued monthly, whichever is greater, for up to 25 years. Your payments start out low and then increase every two years. To be eligible for this plan, your Direct Loan balance must be greater than $30,000. Repayment under this plan may provide lower initial monthly payments, although the total interest paid may be greater when compared to plans with similar terms with fixed payments. This plan may be beneficial if your income is low now but is likely to steadily increase.

Pay as You Earn

Borrower pays the lesser of 10% of discretionary income (income –based payments) or what they would have paid under the standard repayment plan (non-income based). Currently for Direct Loan program only and for new borrowers and 2008 borrowers who received loans in FY 2012.

Additional, more specific information about loan repayment will be available from Direct Loan Servicing prior to you entering repayment.

Deferment and Forbearance

  • Deferments  A deferment is a postponement of payment on a loan, during which interest does not accrue if the loan is subsidized. You may qualify for a deferment while you are:
    • Enrolled at least half-time in an eligible post secondary school or studying full time in a graduate fellowship program or an approved disability rehabilitation program.
    • Unemployed or meet our rules for economic hardship (limited to 3 years).
    • You may also be eligible for a deferment based on qualifying active duty service in the U.S. Armed Forces or National Guard. Refer to the MPN for your loan or contact your service for more information about the specific qualifications for deferment based on military service. In most cases, you need to submit a deferment request to your loan servicer along with documentation of you re eligibility for the deferment. If you’ve gone back to school and your loan servicer receives enrollment information that shows you’re enrolled at least half-time, it will automatically put your loans into deferment and notify you. You have the option of cancelling the deferment and continuing to make payments on your loan.
    • If you are in default on your loan, you are not eligible for a deferment or forbearance.
  • Forbearance If you can’t make your scheduled loan payments, but don’t qualify for a deferment, we may be able to give you forbearance. Forbearance allows you to temporarily stop making payments on your loan, temporarily make smaller payments, or extend the time for making payments. Some common reasons for getting forbearance are illness, financial hardship, or serving in a medical or dental internship or residency. See your copy of theBorrower’s Rights and Responsibilities Statement for more examples. You can also get more information by contacting your loan servicer.Under certain circumstances, we can automatically give you forbearance, for instance, while we’re processing a deferment, forbearance, cancellation, a change in repayment plan or consolidation, or if you’re involved in a military mobilization or a local or national emergency.
  • School-related discharges   In certain cases, you may be able to have all or a part of your loan cancelled because:
    • Your school closed before you completed your program.
    • Your school forged your signature on your promissory note or falsely certified that you were eligible to get the loan.
    • Your loan was falsely certified because of identity theft (additional requirements apply).
    • You withdrew from school but the school didn’t pay a refund that it owed under its written policy or our regulations.  Check with the school to see how refund policies apply to federal aid at the school.

In general, you must repay your loan even if you don’t graduate, can’t find work in your field of study, or are dissatisfied with the education program.

Disability, Bankruptcy, or Death

Your loan may be discharged if you are determined to be totally and permanently disabled and you meet certain requirements during a 3-year conditional discharge period. To apply for this discharge, you must provide a physician’s statement that you became totally and permanently disabled after the loan was made. See your copy of the Borrower’s Rights and Responsibilities Statement for more information on the procedures and conditions for this discharge.

Your loan may be cancelled if it is discharged in bankruptcy.  This is not an automatic process—you must prove to the bankruptcy court that repaying the loan would cause undue hardship.

For a student that dies, the loan will be cancelled if a family member or other representative provides acceptable documentation to the student’s servicer.

Contact your servicer for more information or to get a cancellation form.  You can also find more information in your copy of the Borrower’s Rights and Responsibilities Statement.


There may be advantages to consolidating (combining) your federal student loans into one loan, starting with the convenience of making a single monthly payment. Consolidation generally extends the repayment period, resulting in a lower monthly payment. This may make it easier for you to repay your loans. However you will pay more interest if you extend your repayment period through consolidation since you will be making payments for a longer period of time. Contact the Direct Loan Consolidation Center for more information at: 1-800-557-7395, TTY for the hearing-impaired at: 1-800-557-7395.  The Direct Loans Consolidation website also has an online calculator that you can use to find out how much you’ll pay each month if you consolidate.

If you want additional information on loan default, visit the Department’s Debt Resolution website.


The Creative TouchCosmetology School does accept some scholarships as tuition and fees payment. The student must submit the proper paperwork to the financial aid office, such as the name of contact person, agency, copy of proof of scholarship etc. so the financial aid office will know who to contact and where to collect the scholarship funds from. Note:The student will be responsible to pay for any tuition and other school related expenses not paid by the scholarship.


The Creative Touch Cosmetology School does accept payment of tuition and fees from a student’s employer.  The student must notify the Financial Aid office of the contact person, place of employment, etc. to invoice for payment.  Note: The student will be responsible to pay for any tuition and other school related expenses not paid by the employer.



You are considered an “Independent Student” if you meet any one of the following criteria:

  • You were born before January 1, 1991
  • You will be working on a master’s or doctorate program in school year 2014-2015.
  • You are married as of the date of application.
  • Currently serving on active duty in the US Armed forces for purposes other than training.
  • As determined by a court you are or were an emancipated minor.
  • As determined by a court you are or were in a legal guardianship.
  • Your high school, school district homeless liaison, the director or an emergency shelter funded by the U.S. Department of Housing and Urban Development or the director of a run away or homeless youth basic center determined that you were an unaccompanied youth who was homeless or at risk of being homeless at any time after July 1, 2013.
  • You have children that receive more than half of their support from you between July 1, 2014 and June 30, 2015.
  • You have dependents (other than children or spouse) that receive more than half their support from you.
  • You are an orphan, in foster care or ward of the court at any time since turning 13.
  • You are a veteran of the U. S. Armed Forces.

If the student does not meet any of the above criteria, the student is considered a “Dependent Student” and parents must complete part of the FAFSA and provide their financial information.

In some instances a student may apply to receive what is called a Dependency Override.  Only the financial aid office can make the decision, to approve a Dependency Override request after careful consideration and review of documentation.


The following policy will be used in making professional judgment decisions for a student’s unusual circumstance.

Basic Guidelines

The financial aid officer must resolve any conflicting or inconsistent information on the SAR/ ISIR before allowing a professional judgment.  For example, if the student is flagged for verification, verification must be completed first. The student’s SAR/ISIR may need to be corrected before applying any professional judgment adjustments.

Professional judgment adjustments must be decided on an individual student basis only and circumstances must be unusual—in other words, they must fall outside the normal type of information required by the U.S. Dept. of Education (income, assets, dependency status, etc.)

Unusual Circumstances Allowed

1)  Higher than normal medical and/or dental expenses: The income protection allowance in the EFC formula allows 11% of total income for medical/dental expenses.  Any medical/dental expenses that exceed 11% of income will be allowed.  FAO should reduce the income reported on the SAR/ ISIR by the amount of expenses that exceed 11% of the student’s income.

Required Documentation:

  • Copies of medical or dental bills
  • Cancelled checks
  • Request for Special Consideration Form completed by student and signed by the financial aid officer.
  • Reprocessed SAR/ISIR

2)  Lower income incurrent year than last year: Students who experience a loss or reduction in income between the base year (on the FAFSA) and the current year should be allowed to substitute current annual income. The FAO must determine the total annual income for the student from Jan. 1 thru Dec. 31 and reprocess the SAR/ISIR with projected income for the year.

Required Documentation:

  • Copy of monthly unemployment benefits statement
  • Copy of recent pay stub
  • Other documents used to calculate the projected annual income
  • Request for Special Consideration Form completed by student and signed by the financial aid officer

3)  RecentUnemployment: Student recently lost his/her job. Same requirements as lower income in current year than last year.

4)  Loss of Unemployment Compensation: Student’s unemployment benefits have run out.  Aid Officer must calculate the total amount of income for the year including the unemployment benefits received and any projected additional income from Jan. 1st to December 31st.

  • Required Documentation
  • Copy of unemployment benefit statement
  • Copy of letter indicating benefits have been exhausted.

5)  Loss of Untaxed Income or Benefits:  Student’s untaxed income or other untaxed benefits has ceased. Same requirements as loss of unemployment benefits.

6)  Separation or Divorce: The dependent student has already completed the FAFSA, but his/her parent have become separated or divorced.  Or a married independent student has become separated or divorced after completing the FAFSA. The financial aid officer will correct the income and asset application information on the SAR/ISIR by including only the income for the parent which the student lived with the longest.  For the independent student, the aid office allows the student to update the application information with only the student’s income and assets.

Required Documentation:

  • Official divorce or separation documents
  • Signed statement by parent and/or independent student

Note: If the dependent student’s parents are separated or divorced at the time of completing the FAFSA, the student should use only the  income of the parent whom he/she lived with longer during the twelve months prior to the date the application is completed—regardless of who claimed the student as an exemption.

If an independent student is separated or divorced at the time of completing the FAFSA, the student should only report his/her income and asset information.

7)  Death of Parent or Spouse: One of the student’s parents has died or the last surviving parent has died or the independent student’s spouse has died after the student has completed the FAFSA.  If the student’s last surviving parent has died after the student applied, the student must update his/her dependency status and report income and assets as an independent student. If the independent student’s spouse has died, the student will be allowed to remove the spouse’s income and asset information.

Note: If both parents are deceased at the time the student completes the FAFSA, the student answers “Yes” to the question concerning deceased parents in Step 3 of the FAFSA application. If the independent student’s spouse died prior to the student completing the application, the student should not include income and asset information for the deceased spouse.

Required Documentation:

  • Official death notice
  • Obituary
  • Signed Statement

8) Number of Parents in College At least Half Time: Students may not include their parents that are attending college on the FAFSA. However, the financial aid officer may allow the student to update the number in college to include the parents if the student’s parent provides proof that they are attending college at least half time.

Required Documentation:

  • Copy of parents acceptance letter or registration receipt
  • Copy of parent’s schedule and copy of parent’s official college transcript

9) Dependency Override: The financial aid office may make a dependent student  independent based upon the following circumstances:

a)  The student’s voluntary or involuntary removal from the parent’s home
b)  Incapacity of the parents such as incarceration or disability or mental or physical illness
c)   Inability of student to locate parents after making reasonable attempts
d)  Other extenuating circumstances such as student has not lived with or their parents or received parental support forthe past two consecutive years.

Required Documentation:

  • Letters from doctors, lawyers, or employers (a, b, c)
  • Copies of utility bills, lease agreement, cancelled checks (d)
  • Copy of student’s tax return (d)
  • Other appropriate documentation

NOTE: The aid officer may rely on a dependency override performed by another institution.

Exceptional Circumstances Policy for Increased Unsubsidized Loans

Dependent students whose parents are unable to borrow PLUS loans due to adverse credit or other exceptional circumstances may receive additional unsubsidized loans for the same amount as independent undergraduates. Exceptional circumstances are as follows:

a)  The parent is incarcerated

b)  The parents’ whereabouts are unknown

c)  The parent has filed for bankruptcy and has provided a letter from the bankruptcy court stating that the parent may not incur additional debt

d)  The parent’s income is limited to public assistance or disability benefits and the aid office has documented that the parent’swould not be able to repay the PLUS loan.

e)  The parent of a dependent student is not aU.S. citizen or permanent resident or is unable to provide evidence from the U.S.Citizenship and Immigration Service/Homeland Security that the he or she is in the country for other than a temporary purpose with the intention of becoming a citizen or permanent resident.

Required Documentation:

  • Letter from lawyer or courts (a)
  • Letters from third-party, non-relatives (b)
  • Letter or other documentation from Bankruptcy Court (c)
  • Income information from Public Assistance agency (d)
  • Statement from parents and student


Before applying for financial aid, students and parents should assess all of the costs of attending  CREATIVE TOUCH COSMETOLOGY SCHOOL. The Financial Aid Office establishes standard budgets, which reflect average costs for students during a typical term of enrollment.  Actual expenses vary among students depending on lifestyles, priorities and obligations. To assist applicants in determining their need to meet all costs of education, direct and indirect, a schedule of tuition and fee costs has been provided with estimates of living expenses.

The budget shown below is an example:

234 E. Third Street
Waterloo, IL 62298
Phone: (618) 939-0322
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