by our College Data Analytics TeamThis page focuses on the debt students take on to attend Ricci’s Academy of Cosmetology, including completion-adjusted borrowing and a standard repayment estimate. These figures are reported by the Department of Education and IPEDS.
At Ricci’s Academy of Cosmetology, 54% of new students use loans toward freshman-year expenses, with a typical loan of $6,242 apiece. This figure includes both private and federally funded student loans.
On the federal side, the average loan is $6,242. This reaches or tops the $5,500 first-year federal borrowing cap for a typical dependent student. Be aware: the undergraduate-wide averages below exclude private loans, while this freshman number includes them.
Among all degree-seeking undergrads at Ricci’s Academy of Cosmetology, 55% finance part of their studies with federal loans, averaging $6,232 each per year. That amounts to 0.2% smaller than the $6,242 freshmen take on.
Repeating that yearly amount projects to about $12,464 over two years and about $24,928 over a four-year span. These projections assume the same federal borrowing each year and exclude private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 55% |
| Average federal loan per year | $6,232 |
| Undergraduates with a federal loan | 73 |
| Total federal loans (one year) | $454,962 |
The median student at Ricci’s Academy of Cosmetology borrows $9,833 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $9,833 |
| Students who completed (graduates) | $9,833 |
Half of all borrowers fall between the 25th and 75th percentiles shown below for Ricci’s Academy of Cosmetology.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,260 |
| 25th percentile | $5,940 |
| 75th percentile | $10,057 |
| 90th percentile (highest-debt students) | $16,500 |
How wide this percentile range is tells you how much borrowing varies across students at Ricci’s Academy of Cosmetology.
Median federal debt understates the full cost when PLUS loans are included. The totals below add PLUS borrowing for Ricci’s Academy of Cosmetology.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 24 | $12,223 |
The indicators below describe what the typical debt costs to pay back at Ricci’s Academy of Cosmetology.
Median debt differs by income tier, first-generation status, and whether the student is financially dependent.
Borrowing by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $10,180 |
| Middle income | $9,833 |
| High income | $9,833 |
Dependent vs Independent Borrowers
| Cohort | Median federal debt |
|---|---|
| Dependent students | $9,833 |
| Independent students | $12,957 |
The Department of Education computes gap indicators that show how borrowing differs between student groups at Ricci’s Academy of Cosmetology.
Subsidized vs. Unsubsidized Loans
Unsubsidized federal student loans accrue interest every month — even while you are still enrolled. Unless you pay that interest as it builds, the balance you owe at graduation can be noticeably higher than the amount you originally borrowed.
Important to Remember
Unlike most other debt, federal student loans generally survive bankruptcy — and unpaid balances can lead to wage garnishment — so borrow only what you truly need.
References
More about our data sources and methodologies.