Admissions
Federal Financial Aid
Federal financial aid is available to those who qualify. Start with the FAFSA. It takes about an hour, it is free, and it determines everything you are eligible for, including grants you never repay.
Start here
FAFSA school codes
Milwaukee & Madison
FAFSA school code
038083
Chicago
FAFSA school code
041410
Enter the code for the campus you plan to attend so your FAFSA results reach the right financial aid office.
Three steps
How to apply
All three steps happen on the federal student aid website. There is never a fee to apply.
- 01
Request an FSA ID
Create your account at studentaid.gov/fsa-id. This is the username and password you will use to sign your application, so keep it somewhere safe.
studentaid.gov/fsa-id - 02
Complete the 2026 to 2027 FAFSA
Go to studentaid.gov and fill out the Free Application for Federal Student Aid. When it asks for a school, enter 038083 for Milwaukee or Madison, or 041410 for Chicago.
studentaid.gov - 03
Submit and watch for our call
Within a few days of submitting, a Financial Aid Administrator will contact you with your eligibility. Some applications are selected for a review process called verification. If yours is, we will tell you exactly which documents to send.
Money you keep
Federal Pell Grant
A Pell Grant is need based aid that does not have to be repaid. Your award depends on financial need as determined by the FAFSA, your enrollment date, and your enrollment status. Maximum awards per program:
| Program | Maximum Pell Grant |
|---|---|
| Cosmetology | $7,395 |
| Barbering | $7,395 |
| Ayurvedic Esthetic | $7,395 |
| Massage Therapy | $5,746 |
| Esthiology | $4,597 |
| Program | Maximum Pell Grant |
|---|---|
| Cosmetology | $7,395 |
| Esthiology | $6,163 |
Borrowing
Direct Subsidized & Unsubsidized Loans
Both loan types carry a fixed interest rate of 6.52%. On a subsidized loan, awarded based on financial need from your FAFSA, the government pays the interest that accrues while you are in school and during grace and authorized deferment periods. On an unsubsidized loan, that interest is yours to pay.
| Program | Independent | Dependent |
|---|---|---|
| Cosmetology | $17,666 | $10,555 |
| Barbering | $10,666 | $6,222 |
| Ayurveda Esthetic | $10,666 | $6,222 |
| Massage Therapy | $7,917 | $4,584 |
| Esthiology | $6,333 | $3,666 |
| Program | Independent | Dependent |
|---|---|---|
| Cosmetology | $16,500 | $9,833 |
| Esthiology | $7,917 | $4,584 |
Before your loan funds arrive
Two federal requirements have to be finished at studentaid.gov before we can disburse a subsidized or unsubsidized loan: Entrance Counseling and a Master Promissory Note (MPN).
Federal Direct PLUS Loans
PLUS Loans are available to the parents of dependent students and are approved based on credit rating. They carry a fixed interest rate of 9.07%. If a parent is denied a PLUS Loan, the dependent student's own loan eligibility increases to the independent student limit shown above. Parents apply at studentaid.gov.
What to know before you enroll
Applied to tuition
All financial aid is applied immediately to any tuition you owe.
Paid in increments
Aid disburses in increments, not all at once. To stay eligible for each disbursement, you must maintain Satisfactory Academic Progress. The standards are spelled out in the course catalog.
Financial aid
Payment plans
Interest free payment plans are available. Please contact our admissions department to discuss payment options.
Down payments
Down payments are due two weeks prior to the start of classes.
Additional fees
All tuition must be received in full no later than three weeks prior to graduation, or additional fees may be applied, not to exceed $100.00.
Remaining balance
Remaining balance is due according to the payment plan selected by the student at the time of enrollment.
Student obligation
It is the student's obligation to make all payments on time, without regard to an individual's financial aid qualification or loan status.
The Institute of Beauty and Wellness observes federal regulations regarding student loan requirements. Our Title IV Loan Code of Conduct is designed to create and ensure uniform student loan practices that focus on the best interest of borrowers. Request a printed copy by emailing gregory@ibw.edu or calling 414.319.7581.
We would rather walk you through it
Talk to financial aid
If anything here raises a question, ask us before you fill out a form.
Good questions
Common questions
Questions about financial aid?
Award maximums and interest rates reflect the 2026 to 2027 academic year and are subject to change by the U.S. Department of Education. Figures shown are program maximums. Your actual award is determined by your FAFSA results, enrollment date, and enrollment status. See also our scholarships page.