by our College Data Analytics TeamMost 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 sum total of attendance at Ricci’s Academy of Cosmetology can sound overwhelming, but bear in mind that many students get some type of financial aid.
What financial aid options can Ricci’s Academy of Cosmetology offer, and what will you qualify for? Keep reading for more information. Read on to discover what amount of financial assistance could be accessible 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 Ricci’s Academy of Cosmetology.
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.
Among first-time, full-time freshmen at Ricci’s Academy of Cosmetology, 57% of first-year full-time students received aid of some kind roughly 21 new students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 38% | $5,495 |
| Institutional grants & scholarships | 0% | — |
| Federal Pell grants | 38% | $5,495 |
| State/local grants | 0% | — |
| Federal student loans | 54% | $6,242 |
Because grants and scholarships do not have to be repaid, they are the most sought-after type of financial aid. Here, approximately 40% of undergraduates were awarded an average grant or scholarship of $4,485 (for some 53 students).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 40% | $4,485 |
| Federal Pell grants | 40% | $4,485 |
| Federal student loans | 55% | $6,232 |
For on-campus title-IV students, average grant aid came to $3,846.
Need-based aid means lower-income families typically pay far less than the sticker price suggests.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $12,431 |
| $30,001 – $75,000 | $14,751 |
| Over $75,000 | $18,029 |
These figures reflect what title-IV aid recipients pay after grant and scholarship aid is applied.
Net price is the cost remaining after grant and scholarship aid is subtracted from the sticker price, and it is the most useful single number for estimating real cost.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $14,380 |
| Off-campus title-IV students | $14,412 |
For an estimate tailored to your family circumstances, see Ricci’s Academy of Cosmetology’s online cost calculator: tiginewtown.com/net-price-calculator/.
The median student at Ricci’s Academy of Cosmetology graduates with $9,833 in federal loans.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $9,833 |
| Median federal debt (graduates only) | $9,833 |
| Typical 10-year monthly payment (graduates) | $104.25/mo |
Spreading the median graduate debt over a standard 10-year repayment schedule works out to roughly the monthly payment shown above.
A single median figure conceals how much debt outcomes differ student to student. These percentiles trace how cumulative federal debt is spread among borrowers at Ricci’s Academy of Cosmetology.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,260 |
| 25th percentile | $5,940 |
| 75th percentile | $10,057 |
| 90th percentile (highest-debt students) | $16,500 |
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 | $10,180 |
| Middle income | $9,833 |
| High income | $9,833 |
Dependent vs Independent Students
| Cohort | Median federal debt |
|---|---|
| Dependent students | $9,833 |
| Independent students | $12,957 |
These indicators are derived from the underlying debt data and summarize the overall picture at Ricci’s Academy of Cosmetology.
Most undergraduate borrowing runs through the federal Stafford loan program. Below is the annual Stafford program activity at Ricci’s Academy of Cosmetology:
| Metric | Value |
|---|---|
| Stafford loan recipients | 456 |
| Total Stafford loan amount | $4,045,184 |
Military-affiliated students can tap the Post-9/11 GI Bill and DoD Tuition Assistance.
Post-9/11 GI Bill activity
| Metric | Value |
|---|---|
| GI Bill recipients | 0 |
| Total GI Bill amount | $0 |
References
More about our data sources and methodologies.