by our College Data Analytics TeamA lot of students will not be asked to pay the full sticker price of a school. Rather, they are offered a financial aid plan that includes a mix of loans, grants, scholarships, and possibly work-study opportunities. The price tag of going to Academy of Cosmetology can appear overpowering, but remember that the majority of students obtain some kind of financial assistance.
What financial aid options can Academy of Cosmetology offer, and what will you qualify for? Keep reading for more information. Keep scrolling to see just how much financial aid could be open to you.
Your financial aid package, which may contain grants and scholarships, will be determined on your financial need. Read on to get a sense of the financial assistance available at Academy of Cosmetology.
Colleges use loans, grants, scholarships and work-study to minimize what students actually pay out of pocket. However, some types of aid are more desirable than others, and some students will receive more than others.
For incoming first-year students at Academy of Cosmetology, 75% of first-time, full-time freshmen received some form of financial aid around 24 students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 72% | $5,699 |
| Institutional grants & scholarships | 0% | — |
| Federal Pell grants | 72% | $5,699 |
| State/local grants | 0% | — |
| Federal student loans | 66% | $6,075 |
Gift aid — grants and scholarships — beats loans every time because none of it has to be repaid. At this school, some 45% of undergraduate students received gift aid averaging $4,996 (for some 65 recipients).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 45% | $4,996 |
| Federal Pell grants | 45% | $4,996 |
| Federal student loans | 33% | $5,912 |
Since aid is largely need-based, the real cost of attendance falls steeply for lower-income families.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $18,504 |
| Over $75,000 | $25,005 |
Each figure is the net price after grants and scholarships, not the published sticker price.
The middle student in the debt distribution at Academy of Cosmetology owes $5,125 in federal loans.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $5,125 |
| Median federal debt (graduates only) | $5,500 |
| Typical 10-year monthly payment (graduates) | $58.31/mo |
Spreading the median graduate debt over a standard 10-year repayment schedule works out to roughly the monthly payment shown above.
Looking only at the median can be misleading because it hides the spread. The percentiles below describe the cumulative federal debt distribution for borrowers at Academy of Cosmetology.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $1,832 |
| 25th percentile | $3,666 |
| 75th percentile | $7,212 |
| 90th percentile (highest-debt students) | $7,500 |
Median debt varies by family income, by first-generation status, and by dependency status.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $5,175 |
Dependent vs Independent Students
| Cohort | Median federal debt |
|---|---|
| Dependent students | $3,666 |
| Independent students | $5,195 |
The figure below distills the debt data into a single burden category for Academy of Cosmetology.
Most undergraduate borrowing runs through the federal Stafford loan program. These figures summarize annual Stafford program activity at Academy of Cosmetology:
| Metric | Value |
|---|---|
| Stafford loan recipients | 1215 |
| Total Stafford loan amount | $7,014,441 |
The GI Bill and DoD Tuition Assistance are the main federal aid routes for veterans and service members.
Post-9/11 GI Bill recipients
| Metric | Value |
|---|---|
| GI Bill recipients | 3 |
| Total GI Bill amount | $20,097 |
| Average GI Bill amount per recipient | $6,699 |
References
More about our data sources and methodologies.