by our College Data Analytics TeamThe majority of students will never be charged 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 sum total of attendance at Hair Academy Inc-New Carrollton can sound overwhelming, but bear in mind that many students get some type of financial aid.
What financial assistance options will Hair Academy Inc-New Carrollton offer you, and what will you qualify for? Read on for more information. Scroll down to see how much school funding could be available to you.
How much aid you qualify for depends largely on your family’s financial circumstances. The information provided on this page can help you determine how much aid you may receive from Hair Academy Inc-New Carrollton.
Financial assistance, available as scholarships, loans, and work-study, is a way schools lower the price of attendance so many students can enroll. Keep in mind that certain forms of assistance are more beneficial than others, and aid amounts differ from student to student.
At Hair Academy Inc-New Carrollton, 100% of the incoming full-time class was awarded financial aid approximately 141 students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 85% | $2,378 |
| Institutional grants & scholarships | 0% | — |
| Federal Pell grants | 85% | $2,273 |
| State/local grants | 18% | $500 |
| Federal student loans | 91% | $3,148 |
Unlike loans, grants and scholarships are gift aid that does not need to be paid back, making them the most desirable form of assistance. At Hair Academy Inc-New Carrollton, roughly 29% of undergraduate students received gift aid averaging $2,302 (covering around 128 recipients).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 29% | $2,302 |
| Federal Pell grants | 29% | $2,190 |
| Federal student loans | 31% | $3,112 |
Title-IV recipients living on campus saw average grant aid of $2,229.
The figures below show the average net price — cost after all grant and scholarship aid — broken out by family income.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $19,993 |
| $30,001 – $75,000 | $20,727 |
These figures reflect what title-IV aid recipients pay after grant and scholarship aid is applied.
After grants and scholarships come off the published price, what remains is the net price — the best estimate of true out-of-pocket cost.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $20,565 |
| Off-campus title-IV students | $20,049 |
For a personalized estimate based on your family’s financial situation, use Hair Academy Inc-New Carrollton’s NPC: www.hairacademymd.co/misc/netprice/index.html.
The median federal debt load at Hair Academy Inc-New Carrollton comes to $6,333 of federal student loans.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $6,333 |
| Median federal debt (graduates only) | $13,000 |
| Typical 10-year monthly payment (graduates) | $137.82/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 figures below chart the debt distribution at Hair Academy Inc-New Carrollton.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,000 |
| 25th percentile | $4,650 |
| 75th percentile | $9,500 |
| 90th percentile (highest-debt students) | $11,250 |
How much a student borrows depends heavily on family income, first-gen status, and dependency.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $6,333 |
| Middle income | $9,479 |
| High income | $9,833 |
First-Gen vs Continuing-Gen Median Debt
| Cohort | Median federal debt |
|---|---|
| First-generation students | $6,333 |
| Continuing-generation students | $9,500 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $7,066 |
| Independent students | $6,333 |
These indicators are derived from the underlying debt data and summarize the overall picture at Hair Academy Inc-New Carrollton.
Most undergraduate borrowing runs through the federal Stafford loan program. These figures summarize annual Stafford program activity at Hair Academy Inc-New Carrollton:
| Metric | Value |
|---|---|
| Stafford loan recipients | 5286 |
| Total Stafford loan amount | $44,782,726 |
References
More about our data sources and methodologies.