by our College Data Analytics TeamMost students will never be charged 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 Summit Salon Academy - Gainesville can sound tremendous, but do not forget that almost all students get some type of financial help.
Just what financial assistance solutions will Summit Salon Academy Gainesville provide, and just what are you going to be eligible for? Read on for answers. Read on to find out just how much financial aid will be open to you.
The amount of financial aid and scholarships you are eligible for will vary depending on your family’s income. Read on to get a sense of the financial assistance available at Summit Salon Academy - Gainesville.
Aid such as grants, loans, work-study, and scholarships helps colleges decrease the real cost of attendance for most students. Keep in mind that certain forms of assistance are more beneficial than others, and aid amounts differ from student to student.
Looking at the entering class at Summit Salon Academy - Gainesville, 55% of entering full-time freshmen got some type of financial assistance roughly 69 first-years).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 28% | $4,013 |
| Institutional grants & scholarships | 0% | — |
| Federal Pell grants | 28% | $4,013 |
| State/local grants | 0% | — |
| Federal student loans | 30% | $5,240 |
Because grants and scholarships do not have to be repaid, they are the most sought-after type of financial aid. At this school, about 55% of undergraduates were awarded grant or scholarship aid averaging $3,087 (for some 115 students).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 55% | $3,087 |
| Federal Pell grants | 55% | $1,221 |
| Federal student loans | 55% | $1,686 |
For students living on campus and receiving title-IV aid, grants averaged $2,390.
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 | $15,328 |
| $30,001 – $75,000 | $15,553 |
| Over $75,000 | $19,920 |
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 | $21,113 |
| Off-campus title-IV students | $15,818 |
For a customized cost estimate, visit Summit Salon Academy Gainesville’s online cost calculator: www.ssag.edu/consumer-information/.
The median federal debt load at Summit Salon Academy Gainesville comes to $7,667 of cumulative federal debt.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $7,667 |
| Median federal debt (graduates only) | $11,000 |
| Typical 10-year monthly payment (graduates) | $116.62/mo |
The 10-year payment estimate assumes a standard federal repayment plan and the median graduate debt amount.
Looking only at the median can be misleading because it hides the spread. The figures below chart the debt distribution at Summit Salon Academy Gainesville.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,616 |
| 25th percentile | $5,282 |
| 75th percentile | $13,000 |
| 90th percentile (highest-debt students) | $13,000 |
The figures below break down median federal debt by income tier, first-generation status, and dependency.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $7,667 |
Dependent vs Independent Students
| Cohort | Median federal debt |
|---|---|
| Dependent students | $7,288 |
| Independent students | $12,445 |
The figure below distills the debt data into a single burden category for Summit Salon Academy Gainesville.
Most undergraduate borrowing runs through the federal Stafford loan program. The aggregate figures below show how active the program is at Summit Salon Academy Gainesville:
| Metric | Value |
|---|---|
| Stafford loan recipients | 720 |
| Total Stafford loan amount | $7,193,107 |
The GI Bill and DoD Tuition Assistance are the main federal aid routes for veterans and service members.
Post-9/11 GI Bill activity
| Metric | Value |
|---|---|
| GI Bill recipients | 5 |
| Total GI Bill amount | $52,000 |
| Average GI Bill amount per recipient | $10,400 |
References
More about our data sources and methodologies.