Financial Aid may be available for those who qualify.
Financial aid is evaluated on a case by case situation. Please speak with an Admissions Specialist to request further information.
Types of Funding :
Line of Credit
What is a line of credit?
A line of credit is a personal loan from the Bank. Unlike a regular loan for a fixed amount, the Bank doesn’t provide you with the full amount of the loan at once. Instead, the Bank establishes a “credit limit” for you as the maximum amount you can borrow. As you withdraw, the available credit reduces. However, as you pay the money back, the amount available for withdrawal increases. You control how much of your credit limit you want to withdraw and when.
Who is eligible to apply?
The student line of credit is designed for Canadian or Landed Immigrant students pursuing post-secondary education at an accredited/recognized post-secondary institution. Usually full-time and part-time students qualify for the line of credit, with part-time students having lower credit line maximums. Some banks even give out lines of credit for students who are studying abroad in non-Canadian institutions.
Can I have a government student loan and a bank issued student line of credit at the same time?
Yes, if you qualify.
What do I pay while I’m at school?
This will depend on the institution you bank with. Students usually only have to pay the monthly interest. After students finish their studies, banks usually allow a grace period where students only make interest payments. After the grace period expires, repayment is negotiated with the lending bank and students must start making monthly payments that include part of the principal as well as the interest.
What is a co-signer? Do I need a co-signer?
A co-signer is a person who acts as a guarantor for a student (who may have a poor or limited credit history) in case the student is not able to pay off the line of credit. Usually a co-signer is a parent or guardian who co-signs the line of credit so that, if the student is unable to make payments, the co-signer will take over and pay the balances. Most banks require co-signers for undergraduate students, but usually not for graduate students.
My bank is having problems finding the Fiorio Beauty Academy in their system as a registered private a career college?
The Fiorio Beauty Academy is registered as a private career college under the Private Career Colleges Act, 2005.
Some branches have difficulties locating our school on the government sites. Please search for us using “The Fiorio Beauty Academy” or contact us for our PCC ID number.