by our College Data Analytics TeamA lot of students are not billed the advertised price of a school. Instead, they will be provided a financial aid package that will include a combination of scholarships, grants, loans, and work-study. The total price of attendance at Victoria’s Academy of Cosmetology can feel overwhelming, but bear in mind that many students receive some sort of financial aid.
What financial assistance options will Victoria’s academy offer, and what will you qualify for? Read on for more information. Keep going to discover what amount of financial assistance could be accessible to you.
The amount of financial aid and scholarships you are eligible for will vary depending on your family’s income. Continue reading to find information to help you understand just how much assistance you can expect to receive from Victoria’s Academy of Cosmetology.
Colleges use loans, grants, scholarships and work-study to minimize what students actually pay out of pocket. Note that some aid is more valuable than the rest, and individual awards are far from uniform.
Looking at the entering class at Victoria’s Academy of Cosmetology, 100% of first-year full-time students received aid of some kind some 95 freshmen).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 58% | $4,063 |
| Institutional grants & scholarships | 0% | — |
| Federal Pell grants | 58% | $4,063 |
| State/local grants | 0% | — |
| Federal student loans | 47% | $7,632 |
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, roughly 51% of undergraduate students received gift aid averaging $4,811 (across roughly 55 students).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 51% | $4,811 |
| Federal Pell grants | 51% | $4,811 |
| Federal student loans | 50% | $7,557 |
On-campus students receiving title-IV aid were awarded grants averaging $5,018.
The figures below show the average net price — cost after all grant and scholarship aid — broken out by family income.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $18,425 |
| $30,001 – $75,000 | $19,249 |
| Over $75,000 | $21,397 |
These figures reflect what title-IV aid recipients pay after grant and scholarship aid is applied.
The net price represents the average annual cost a title-IV-receiving student pays after grant aid is subtracted from the full cost of attendance.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $22,095 |
| Off-campus title-IV students | $18,760 |
For a customized cost estimate, visit Victoria’s academy’s net price tool: www.victoriasacademy.edu/npcalc.htm.
The median student at Victoria’s academy graduates with $7,400 of federal student loans.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $7,400 |
| Median federal debt (graduates only) | $7,830 |
| Typical 10-year monthly payment (graduates) | $83.01/mo |
Spreading the median graduate debt over a standard 10-year repayment schedule works out to roughly the monthly payment shown above.
A single median figure conceals how much debt outcomes differ student to student. The figures below chart the debt distribution at Victoria’s academy.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,750 |
| 25th percentile | $4,750 |
| 75th percentile | $9,500 |
| 90th percentile (highest-debt students) | $11,573 |
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 | $7,209 |
Dependent vs Independent Students
| Cohort | Median federal debt |
|---|---|
| Dependent students | $5,661 |
| Independent students | $7,830 |
The figure below distills the debt data into a single burden category for Victoria’s academy.
Stafford loans make up the bulk of federal direct lending to undergraduates. Below is the annual Stafford program activity at Victoria’s academy:
| Metric | Value |
|---|---|
| Stafford loan recipients | 660 |
| Total Stafford loan amount | $5,304,100 |
References
More about our data sources and methodologies.