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 total cost of going to Elevate Salon Institute can seem overwhelming, but bear in mind that many students are given some form of financial aid.
Just what financial aid solutions can Elevate Salon Institute deliver, and just what are you going to be eligible for? Keep reading for answers. Keep going to see 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 Elevate Salon Institute.
Colleges use loans, grants, scholarships and work-study to minimize what students actually pay out of pocket. Keep in mind that certain forms of assistance are more beneficial than others, and aid amounts differ from student to student.
For incoming first-year students at Elevate Salon Institute, 29% of the incoming full-time class was awarded financial aid approximately 36 new students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 29% | $4,017 |
| Institutional grants & scholarships | 0% | — |
| Federal Pell grants | 29% | $4,017 |
| State/local grants | 0% | — |
| Federal student loans | 23% | $5,344 |
Gift aid — grants and scholarships — beats loans every time because none of it has to be repaid. At Elevate Salon Institute, about 19% of the undergraduate population received grant aid that averaged $4,775 (covering around 63 awardees).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 19% | $4,775 |
| Federal Pell grants | 19% | $4,775 |
| Federal student loans | 23% | $5,723 |
For students living on campus and receiving title-IV aid, grants averaged $3,237.
Need-based aid means lower-income families typically pay far less than the sticker price suggests.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $14,092 |
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 | $19,409 |
| Off-campus title-IV students | $15,256 |
To get a personalized net price estimate, try Elevate Salon Institute’s net price calculator: www.esimichigan.com/docs/esiutica-net-price-calculator/.
A typical borrower at Elevate Salon Institute leaves with $6,333 of federal borrowing.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $6,333 |
| Median federal debt (graduates only) | $6,333 |
| Typical 10-year monthly payment (graduates) | $67.14/mo |
Spreading the median graduate debt over a standard 10-year repayment schedule works out to roughly the monthly payment shown above.
The numbers below show the full range, not just the middle of the distribution. The figures below chart the debt distribution at Elevate Salon Institute.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,528 |
| 25th percentile | $3,968 |
| 75th percentile | $7,708 |
| 90th percentile (highest-debt students) | $13,833 |
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 | $6,333 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $6,333 |
| Continuing-generation students | $6,333 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $5,500 |
| Independent students | $6,333 |
The figure below distills the debt data into a single burden category for Elevate Salon Institute.
Stafford loans make up the bulk of federal direct lending to undergraduates. The annual Stafford volume below reflects program activity at Elevate Salon Institute:
| Metric | Value |
|---|---|
| Stafford loan recipients | 1253 |
| Total Stafford loan amount | $9,375,890 |
Veterans and active-duty service members may qualify for the Post-9/11 GI Bill or DoD Tuition Assistance.
Post-9/11 GI Bill activity
| Metric | Value |
|---|---|
| GI Bill recipients | 4 |
| Total GI Bill amount | $27,775 |
| Average GI Bill amount per recipient | $6,944 |
References
More about our data sources and methodologies.