FORT WAYNE, Ind. (WOWO): The woman who headed up a beauty school in Fort Wayne will plead guilty today to scamming the federal student loan system.

Kaydean Geist has admitted to failing to refund student financial aid funds while leaving the Master of Cosmetology school tens of thousands of dollars in debt, according to the Journal Gazette.

Federal prosecutors say Geist ignored federal student aid regulations and convinced lenders in making loans that would never be repaid between April 2009 and August 2010.

Both she and the school face penalties of almost $6-million each, though the school has apparently shut down.