Financial
| REGISTRATION FEE | $100* |
| TUITION | $9,650 |
| BOOKS & SUPPLIES | $1,000* |
| TOTAL COST | $10,750** |
PELL GRANT This is offered to eligible students for educational uses through the federal government. Currently, an eligible student can receive between $400 and $4731 in grant. If the final disbursement exceeds the amount owed the school, the balance will be disbursed to the student. In order to apply for a Pell grant, students must furnish the school with copies of tax forms and other pertinent documents. If there is a discrepancy in the Pell award, the student is responsible for any difference owed the school. Refer to Pell Grant sheet for details.
STUDENT LOAN RAC uses a private lender for loans. These are not government-guaranteed. If eligible, the maximum amount of loan for 1500-hour students is $5000, maximum amount for transfer students is based on number of hours. Refer to Student Loan sheet for details.
Excellence Grade & Attendance Benefit (EGA)
(1500-HOUR STUDENTS) RAC offers a tuition reduction program based on grades and attendance. Refer to the Financial Benefit sheet for details.
J.C. SCHOLARSHIP (TRANSFER STUDENTS) This is a memorial scholarship. It is available to eligible high school cosmetology students. Benefits are awarded based on instructor recommendations and an interview process. Refer to the Julie Cooper Scholarship sheet for details.
PAYMENT SCHEDULE Payment schedules may be used for any balance due the school. The balance must be paid be the time the student graduates and a schedule must be established denoting when the payments will be made.
PRE-PAY DISCOUNT RAC offers a discount for full payment prior to class start. Please refer to the Pre-Pay Discount sheet for details.
*The $100 registration fee and the $1,000 books and supply fee will be required prior to class start date. The registration fee reserves the student’s place in a particular class and is therefore non-refundable.
** Fees and tuition subject to change.
Excellence Grade & Attendance Benefit (EGA)
RAC is pleased to offer a financial benefit to students enrolled for the full 1500-hour program. Students may earn up to $1,000 off the tuition cost. Requirements for the EGA Program are as follows:
1. Students must maintain 90% in attendance each month.
2. Students must maintain 90% in grades.
3. School payments must be made on time each month.
Students must comply with all school policies. If a student has received any written disciplinary counseling during the evaluation period, the student will not be eligible for the EGA for that period. This does not include academic counseling. Students will be evaluated following 750 hours and 1,500 hours. If the above requirements have been met and maintained each month of the evaluation period, the student will be offered a financial benefit disbursement of $500.00 for that period. It is possible for a student to receive up to $1,000. Disbursement will be credited to the students account with the school. Should the account already be paid in full, the disbursement will be made to the student.
JULIE COOPER SCHOLARSHIP
This scholarship is set up in memory and honor of Julie Cooper, an outstanding stylist with Ross the Boss and Co. who lost her battle with cancer. The scholarship ranges from $300 to $1,000.
This scholarship benefits students who began their cosmetology training in a high school program and have a desire to complete their training with Reuben-Allen College. This scholarship is only available for students who have been out of high school less than 6 months.
The purpose of this scholarship is to honor a young woman who had a burning desire to succeed in the cosmetology field. She overcame many personal difficulties and was diligent in her pursuit of knowledge and improvement of her skill.
The recipient of this award should fully understand the benefit awarded her/him and should bring honor and respect to the memory of Julie Cooper.
Please contact the school office at 865-966-0400 for details. This scholarship is funded by Ross the Boss & Co.
PRE-PAY TUITION DISCOUNT
RAC offers a tuition discount to 1500 hour students who pay the entire cost of the course prior to class start. Pell, loan and scholarship students are not eligible for this discount, but students paying in full will still be eligible for the Outstanding Student Benefit.
Discount amount is 10% of tuition for students paying with cash or check or 5% for students using credit card.
The discount is applied to tuition only.
Should the student withdraw or be dismissed from school, the school refund policy will apply.
STUDENT LOAN
Reuben-Allen College uses a private lender for student loans. These are not guaranteed by the government. If you are eligible, the maximum amount of the loan is $5,000.00. Should the loan be for a lesser amount, the interest, payment time and amount will change accordingly.
Because the loan is not guaranteed and the school is at risk for the loan, eligibility is based on the student’s credit rating. If the student is 19 years of age or younger, they must have a co-signer on the loan. The parent or co-signer must also pass a credit check. The loan will be distributed in one disbursement at completion of the course.
Until the student graduates, the loan application remains in the student’s file. Should any changes to the amount need to be adjusted or should the student decide to cancel the loan, that may be done before the loan is activated.
Should a student withdraw or be dismissed from the program, the loan will not be activated and the amount owed the school, according to the refund policy, will be the responsibility of the student.