The Career Academy of Hair Design did not increase tuition fees for the 2022-23 school year, as revealed in the latest report, according to the latest disclosure from the National Center for Education Statistics.
Students enrolled at the private for-profit institution paid $18,195 for tuition during both the 2021-22 and 2022-23 academic years.
Approximately 87% of the academy’s undergraduate students are residents of Arkansas, while about 13% come from other states.
Data indicates that 91% of full-time undergraduates who began studies at the Career Academy of Hair Design in 2022-23 received some form of financial aid. A total of 162 students were awarded grants or scholarships amounting to $672,776, and 122 students secured student loans exceeding $719,960.
Across all undergraduate students, 264 individuals received grants or scholarships totaling $1.2 million. Additionally, 229 students obtained federal student loans totaling $1.4 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 Career Academy of Hair Design 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 | 152 | 77% | $619,352 | $4,075 |
| State / local grant or scholarship | 14 | 7% | $46,505 | $3,322 |
| Institutional grants or scholarships | 16 | 8% | $6,919 | $432 |
| Grant or scholarship aid total | 162 | 82% | $672,776 | $4,153 |
| Federal student loans | 122 | 62% | $719,960 | $5,901 |
| Other student loans | 0 | 0% | $0 | $0 |
| Student loan aid | 122 | 62% | $719,960 | $5,901 |
| Total student aid | 181 | 91% | $1.4 million | $7,694 |
Information in this story was obtained from the National Center for Education Statistics. The source data can be found here.
