FORT WAYNE, Ind. (WOWO): A woman who didn’t refund student financial aid checks for a former beauty college has been sentenced to two years of probation.

Kaydean Geist won’t spend any time in jail, but has been ordered to pay $300,000 in restitution according to the Journal Gazette.

Geist ran the Masters of Cosmetology Beauty College in Fort Wayne.  She deposited student financial aid funding into her own personal investment account. She told students they had to sign the checks over to her school as per a government program requirement that never actually existed.

She admitted to violating federal student aid laws and has been banned for life from all U.S. Department of Education programs.

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