Financial Aid Statistics Comparison
For all undergraduate students, the average percent receiving aid is 54.25 % and the average aid amount is $4,775. The financial aid includes Federal (Pell and other federal), state, local, institutional or other grant aid, and federal student loans. The following table compares the total number and percentage of undergraduate students who received any financial aid between selected colleges for academic year 2022-2023.
| Name | Number Receiving Aid | Percent Receiving Aid | Average Amount |
|---|---|---|---|
| Styles and Profiles Beauty College | no longer opens and does not accept applicants (Closed: 10/20/2017) | ||
| Elite College of Cosmetology | 65 | 72% | $6,205 |
| Franklin Hair Academy School of Cosmetology | 32 | 50% | $4,731 |
| Massage Institute of Memphis | 28 | 78% | $4,714 |
| Studio 75 Hair Academy | 1 | 17% | $3,448 |
| Average | 32 | 54.25% | $4,775 |
Beginning Students Financial Aid
For first-time, full-time beginning students, the average percent of receiving grant and/or scholarship is 23.44 % and the average grant amount is $1,569. This includes grants or scholarship from all sources - federal (pell grants and other federal grants), state/local, and institutions. The average percent of students who receiving student loans (federal and other student loans) is 25.00 % and the average loan amount is $1,856. The following table compares the financial aid statistics for first-time, full-time undergraduate students (freshmen) between selected colleges for academic year 2022-2023.
| Name | Grants/Scholarships | Student Loans | ||
|---|---|---|---|---|
| Number Receiving Aid (Percentage) | Average Amount | Number Receiving Aid (Percentage) | Average Amount | |
| Styles and Profiles Beauty College | no longer opens and does not accept applicants (Closed: 10/20/2017) | |||
| Elite College of Cosmetology | 19 (95%) | $4,063 | 19 (95%) | $2,619 |
| Franklin Hair Academy School of Cosmetology | 3 (43%) | $5,645 | 4 (57%) | $7,500 |
| Massage Institute of Memphis | 11 (73%) | $4,413 | 11 (73%) | $6,582 |
| Studio 75 Hair Academy | 0 (0%) | $0 | - | - |
| Average | 11 (70.33%) | $4,707 | 11 (75.00%) | $5,567 |