The Academy of Cosmetology Inc saw a 6.4% tuition hike for the 2022-23 school year, based on the latest figures released, according to the latest disclosure from the National Center for Education Statistics.
Students enrolled at the private for-profit institution paid $16,815 this year, which is $1,015 higher than the $15,800 tuition charged during the 2021-22 academic year.
Approximately 94% of the academy’s undergraduate students are residents of Montana, while about 6% come from other states.
Data indicates that 62% of full-time undergraduates who began their studies at the Academy of Cosmetology Inc in 2022-23 received some form of student financial aid. Specifically, eight students were awarded grants or scholarships totaling $30,051, and 11 students obtained student loans exceeding $62,614.
Across all undergraduate students, 17 received grants or scholarships amounting to $83,809. Additionally, 26 students borrowed a total of $171,605 in federal student loans.
Undergraduate education costs have seen a significant increase over the past few decades. Data shows a 169% rise in the average total cost, including tuition, fees, room, and board, between 1980 and 2020.
According to a 2023 College Board report, in-state students at public universities paid an average of $11,260, while out-of-state students paid $29,150 in the 2023-24 academic year.
Meanwhile, student loan debt has steadily increased over the last 30 years, reaching $1.75 trillion in 2024, averaging a total of $28,950 per borrower. Federal loans make up 92% of the debt, with over half of students at both public and private four-year colleges graduating with student loans.
Available data sometimes exceeds 100% due to rounding and administrative calculations.
The following data includes only full-time students who began an undergraduate program at the Academy of Cosmetology Inc in the 2022-23 school year.
| Type of Aid | Number of students awarded aid | Percent awarded aid | Total amount of aid awarded | Average amount of aid per student |
|---|---|---|---|---|
| Federal grants | 8 | 38% | $30,051 | $3,756 |
| State / local grant or scholarship | 0 | 0% | $0 | $0 |
| Institutional grants or scholarships | 0 | 0% | $0 | $0 |
| Grant or scholarship aid total | 8 | 38% | $30,051 | $3,756 |
| Federal student loans | 11 | 52% | $62,614 | $5,692 |
| Other student loans | 0 | 0% | $0 | $0 |
| Student loan aid | 11 | 52% | $62,614 | $5,692 |
| Total student aid | 13 | 62% | $92,665 | $7,128 |
Information in this story was obtained from the National Center for Education Statistics. The source data can be found here.
