by our College Data Analytics TeamThe majority of students are not billed the full, advertised sticker price of a school. Instead, they will be given a financial aid offer that will include a combination of scholarships, grants, loans, and work-study. The price tag of going to Nuvo College of Cosmetology can appear overwhelming, but bear in mind that many students obtain some kind of financial aid.
What financial aid options can Nuvo College of Cosmetology offer, and what will you qualify for? Keep reading for more information. Read on to find out just how much financial aid will be open to you.
Eligibility for aid and scholarships is driven mostly by your household’s income and need. Use the information below to understand how much financial assistance you may get from Nuvo College of Cosmetology.
Financial aid, in the form of loans, grants, work-study, and scholarships, is one way colleges reduce the cost of attendance so most students can actually afford to attend. Some kinds of aid are clearly preferable to others, and outcomes differ across students.
At Nuvo College of Cosmetology, 73% of first-year full-time students received aid of some kind roughly 37 students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 61% | $4,937 |
| Institutional grants & scholarships | 0% | — |
| Federal Pell grants | 61% | $4,937 |
| State/local grants | 0% | — |
| Federal student loans | 37% | $5,723 |
Gift aid — grants and scholarships — beats loans every time because none of it has to be repaid. At this school, about 35% of undergraduates were awarded grant or scholarship aid averaging $4,989 (for some 38 recipients).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 35% | $4,989 |
| Federal Pell grants | 35% | $4,989 |
| Federal student loans | 23% | $6,105 |
For on-campus title-IV students, average grant aid came to $4,202.
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 | $18,937 |
| $30,001 – $75,000 | $20,085 |
| Over $75,000 | $23,122 |
These figures reflect what title-IV aid recipients pay after grant and scholarship aid is applied.
The net price strips out grant and scholarship aid from the sticker price to show roughly what families really pay.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $19,413 |
| Off-campus title-IV students | $21,136 |
For a customized cost estimate, visit Nuvo College of Cosmetology’s official net price calculator: www.tcbeautycollege.com/net-price-calculator.
A typical borrower at Nuvo College of Cosmetology leaves with $5,500 of federal student loans.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $5,500 |
| 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.
The median alone does not show how widely outcomes vary across the student body. The four reference points below map the debt distribution at Nuvo College of Cosmetology.
| Percentile | Cumulative Federal Debt |
|---|---|
| 25th percentile | $2,829 |
| 75th percentile | $7,200 |
The figures below break down median federal debt by income tier, first-generation status, and dependency.
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $3,697 |
| Independent students | $8,700 |
The figure below distills the debt data into a single burden category for Nuvo College of Cosmetology.
The Stafford program is the federal direct-loan vehicle most undergraduates use. Below is the annual Stafford program activity at Nuvo College of Cosmetology:
| Metric | Value |
|---|---|
| Stafford loan recipients | 389 |
| Total Stafford loan amount | $3,137,870 |
References
More about our data sources and methodologies.