by our College Data Analytics TeamMany students are not billed the advertised price of a school. Instead, they will be provided a financial aid package that will include a combination of scholarships, grants, loans, and work-study. The sum total of attendance at The Salon Professional Academy can sound overpowering, but remember that the majority of students get some type of financial assistance.
What financial aid options can TSPA - Cedar Falls offer, and what will you qualify for? Keep reading for more information. Keep going to discover how much school funding could be available to you.
The amount of financial aid you can receive varies from person to person and will depend on your family’s economic situation. Read on to get a sense of the financial assistance available at The Salon Professional Academy.
Aid such as grants, loans, work-study, and scholarships helps colleges decrease the real cost of attendance for most students. Bear in mind that not all aid is equal, and the amount any one student receives can vary widely.
Looking at the entering class at The Salon Professional Academy, 98% of first-year full-time students received aid of some kind (about 40 incoming students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 85% | $6,134 |
| Institutional grants & scholarships | 0% | — |
| Federal Pell grants | 85% | $6,134 |
| State/local grants | 0% | — |
| Federal student loans | 83% | $8,507 |
The best aid is gift aid: grants and scholarships that carry no repayment obligation. Across the undergraduate body at TSPA - Cedar Falls, around 43% of undergraduates were awarded grant or scholarship aid averaging $6,241 (across approximately 55 recipients).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 43% | $6,241 |
| Federal Pell grants | 43% | $6,241 |
| Federal student loans | 43% | $7,644 |
Title-IV recipients living on campus saw average grant aid of $5,505.
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 | $13,442 |
| $30,001 – $75,000 | $14,373 |
Each figure is the net price after grants and scholarships, not the published sticker price.
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 | $11,742 |
| Off-campus title-IV students | $13,595 |
For a customized cost estimate, visit TSPA - Cedar Falls’s NPC: tspacedarfalls.com/financial-aid/welcome/.
The median student at TSPA - Cedar Falls graduates with $12,000 of federal student loans.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $12,000 |
| Median federal debt (graduates only) | $12,500 |
| Typical 10-year monthly payment (graduates) | $132.52/mo |
At a typical 10-year repayment schedule, the median graduate would pay about the monthly figure above.
The figures below break down median federal debt by income tier, first-generation status, and dependency.
Debt by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $10,000 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $12,000 |
| Independent students | $12,632 |
The figure below distills the debt data into a single burden category for TSPA - Cedar Falls.
Stafford loans are the federal government’s primary direct undergraduate lending program. The aggregate figures below show how active the program is at TSPA - Cedar Falls:
| Metric | Value |
|---|---|
| Stafford loan recipients | 522 |
| Total Stafford loan amount | $4,962,716 |
The GI Bill and DoD Tuition Assistance are the main federal aid routes for veterans and service members.
GI Bill volume
| Metric | Value |
|---|---|
| GI Bill recipients | 0 |
| Total GI Bill amount | $0 |
References
More about our data sources and methodologies.