by our College Data Analytics TeamThe majority of students are not billed 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 price tag of going to The Salon Professional Academy - Melbourne can appear overpowering, but remember that the majority of students obtain some kind of financial assistance.
Just what financial aid solutions can TSPA - Melbourne deliver, and just what are you going to be eligible for? Keep reading for answers. Keep going to find out how much school funding will 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 The Salon Professional Academy - Melbourne.
Financial assistance, available as scholarships, loans, and work-study, is a way schools lower the price of attendance so many students can enroll. However, some types of aid are more desirable than others, and some students will receive more than others.
At The Salon Professional Academy - Melbourne, 62% of new full-time first-years were awarded at least some aid roughly 45 freshmen).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 48% | $5,215 |
| Institutional grants & scholarships | 0% | — |
| Federal Pell grants | 48% | $5,215 |
| State/local grants | 0% | — |
| Federal student loans | 52% | $5,508 |
The best aid is gift aid: grants and scholarships that carry no repayment obligation. Here, approximately 46% of the undergraduate population received grant aid that averaged $5,296 (across roughly 88 students).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 46% | $5,296 |
| Federal Pell grants | 46% | $5,296 |
| Federal student loans | 54% | $5,561 |
Title-IV recipients living on campus saw average grant aid of $3,090.
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 | $18,610 |
| $30,001 – $75,000 | $22,532 |
| Over $75,000 | $24,325 |
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 | $14,520 |
| Off-campus title-IV students | $13,246 |
To get a personalized net price estimate, try TSPA - Melbourne’s net price calculator: www.tspamelbourne.com/financial-aid/welcome/.
A typical borrower at TSPA - Melbourne leaves with $6,333 of federal student loans.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $6,333 |
| Median federal debt (graduates only) | $7,528 |
| Typical 10-year monthly payment (graduates) | $79.81/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 percentiles below describe the cumulative federal debt distribution for borrowers at TSPA - Melbourne.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,750 |
| 25th percentile | $4,750 |
| 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.
Debt by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $6,333 |
| Middle income | $5,234 |
| High income | $6,087 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $6,224 |
| Continuing-generation students | $7,667 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $5,870 |
| Independent students | $6,333 |
A handful of calculated indicators summarize the debt outlook at TSPA - Melbourne.
Stafford loans make up the bulk of federal direct lending to undergraduates. The totals below capture Stafford lending at TSPA - Melbourne:
| Metric | Value |
|---|---|
| Stafford loan recipients | 1424 |
| Total Stafford loan amount | $10,808,525 |
If you are a veteran or active-duty service member, the GI Bill and DoD Tuition Assistance are the primary federal programs you can use at this school.
Post-9/11 GI Bill activity
| Metric | Value |
|---|---|
| GI Bill recipients | 17 |
| Total GI Bill amount | $246,208 |
| Average GI Bill amount per recipient | $14,483 |
References
More about our data sources and methodologies.