by our College Data Analytics TeamA large number 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 sum total of attendance at Elite Cosmetology, Barber & Spa Academy can sound overwhelming, but bear in mind that many students get some type of financial aid.
Just what financial assistance solutions will Elite CBS Academy deliver, and just what are you going to be eligible for? Read on for answers. Keep going to find out what amount of financial assistance will be accessible 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 Elite Cosmetology, Barber & Spa Academy.
Financial aid, in the form of loans, grants, work-study, and scholarships, is one way colleges reduce the cost of attendance so most students can actually afford to attend. Keep in mind that certain forms of assistance are more beneficial than others, and aid amounts differ from student to student.
For freshmen starting at Elite Cosmetology, Barber & Spa Academy, 92% of new full-time first-years were awarded at least some aid around 67 new students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 84% | $6,955 |
| Institutional grants & scholarships | 0% | — |
| Federal Pell grants | 84% | $6,783 |
| State/local grants | 3% | $5,250 |
| Federal student loans | 92% | $8,493 |
Because grants and scholarships do not have to be repaid, they are the most sought-after type of financial aid. At Elite CBS Academy, approximately 84% of the undergraduate population received grant aid that averaged $6,703 (across roughly 77 students).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 84% | $6,703 |
| Federal Pell grants | 84% | $6,566 |
| Federal student loans | 92% | $8,346 |
Among title-IV aid recipients living on campus, grant and scholarship aid averaged $7,166.
Need-based aid means lower-income families typically pay far less than the sticker price suggests.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $16,577 |
| $30,001 – $75,000 | $17,980 |
| Over $75,000 | $18,901 |
Each amount is the average cost remaining once grant aid is subtracted, by income band.
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 | $14,513 |
| Off-campus title-IV students | $18,218 |
For an estimate tailored to your family circumstances, see Elite CBS Academy’s official net price calculator: elitecbsacademy.com/pages/npcalc.htm.
A typical borrower at Elite CBS Academy leaves with $5,500 in federal student debt.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $5,500 |
| Median federal debt (graduates only) | $6,966 |
| Typical 10-year monthly payment (graduates) | $73.85/mo |
Under a standard ten-year plan, the median graduate’s monthly payment lands near the figure above.
Median debt varies by family income, by first-generation status, and by dependency status.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $6,060 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $4,583 |
| Independent students | $6,333 |
These indicators are derived from the underlying debt data and summarize the overall picture at Elite CBS Academy.
Stafford loans are the federal government’s primary direct undergraduate lending program. Below is the annual Stafford program activity at Elite CBS Academy:
| Metric | Value |
|---|---|
| Stafford loan recipients | 317 |
| Total Stafford loan amount | $2,108,645 |
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 | 0 |
| Total GI Bill amount | $0 |
References
More about our data sources and methodologies.