The Olympian Academy of Cosmetology saw a 1.8% tuition hike for the 2022-23 school year, based on recently disclosed information, according to the latest disclosure from the National Center for Education Statistics.
Students enrolled at the private, for-profit institution paid $16,800 this year, an increase of $300 from the $16,500 tuition charged in the 2021-22 academic year.
Approximately 40% of the undergraduate student body at the school are residents of New Mexico, while the remaining 60% come from other states.
Data indicates that 86% of full-time undergraduates who began studies at Olympian Academy of Cosmetology in 2022-23 received some form of student financial aid. In total, 538 students were awarded grants or scholarships amounting to $2.6 million, and 524 students borrowed more than $3.5 million in student loans.
Across the entire undergraduate population, 781 students benefited from grants or scholarships totaling $3.5 million. Additionally, 782 students secured federal student loans exceeding $5 million.
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 Olympian Academy of Cosmetology 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 | 538 | 77% | $2.6 million | $4,779 |
| State / local grant or scholarship | 0 | 0% | $0 | $0 |
| Institutional grants or scholarships | 106 | 15% | $15,300 | $144 |
| Grant or scholarship aid total | 538 | 77% | $2.6 million | $4,808 |
| Federal student loans | 524 | 75% | $3.5 million | $6,631 |
| Other student loans | 0 | 0% | $0 | $0 |
| Student loan aid | 524 | 75% | $3.5 million | $6,631 |
| Total student aid | 599 | 86% | $6.1 million | $10,119 |
Information in this story was obtained from the National Center for Education Statistics. The source data can be found here.
