by our College Data Analytics TeamThe majority of students will not be asked to pay 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 total cost of going to Formations Institute of Cosmetology & Barbering can seem tremendous, but do not forget that almost all students are given some form of financial help.
Just what financial assistance solutions will Formations Institute provide, and just what are you going to be eligible for? Read on for answers. Keep scrolling to discover what amount of financial assistance could be accessible to you.
How much aid you qualify for depends largely on your family’s financial circumstances. Continue reading to find information to help you understand just how much assistance you can expect to receive from Formations Institute of Cosmetology & Barbering.
Financial assistance, available as scholarships, loans, and work-study, is a way schools lower the price of attendance so many students can enroll. Note that some aid is more valuable than the rest, and individual awards are far from uniform.
Among first-time, full-time freshmen at Formations Institute of Cosmetology & Barbering, 100% of the incoming full-time class was awarded financial aid some 15 incoming students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 100% | $5,432 |
| Institutional grants & scholarships | 20% | $1,250 |
| Federal Pell grants | 100% | $4,884 |
| State/local grants | 13% | $2,241 |
| Federal student loans | 87% | $5,050 |
Unlike loans, grants and scholarships are gift aid that does not need to be paid back, making them the most desirable form of assistance. At this school, around 70% of undergraduate students received gift aid averaging $4,870 (across roughly 39 awardees).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 70% | $4,870 |
| Federal Pell grants | 63% | $4,579 |
| Federal student loans | 71% | $4,858 |
For students living on campus and receiving title-IV aid, grants averaged $5,700.
How much a family pays depends heavily on income, because most aid is awarded on the basis of financial need.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $17,933 |
| $30,001 – $75,000 | $19,147 |
The numbers above are post-aid net prices, so they already account for grants and scholarships.
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 | $16,085 |
| Off-campus title-IV students | $18,536 |
To get a personalized net price estimate, try Formations Institute’s net price calculator: formationsinstitute.edu/net-price-calculator.
A typical borrower at Formations Institute leaves with $9,626 in federal student debt.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $9,626 |
Federal data publishes pre-calculated indicators that summarize debt outcomes. Formations Institute.
Stafford loans are the federal government’s primary direct undergraduate lending program. Below is the annual Stafford program activity at Formations Institute:
| Metric | Value |
|---|---|
| Stafford loan recipients | 260 |
| Total Stafford loan amount | $2,294,799 |
References
More about our data sources and methodologies.