Tuition fees at Nuvo College of Cosmetology rose by 12.9% for the 2022-23 school year, according to recent disclosures, according to the latest disclosure from the National Center for Education Statistics.
Students enrolled at the private for-profit institution paid $18,000 this year, an increase of $2,050 from the $15,950 charged during the 2021-22 academic year.
The entire undergraduate student body at the school consists of residents of Michigan.
Data indicates that 64% of full-time undergraduates who began studies at Nuvo College of Cosmetology in 2022-23 received some form of financial aid. Specifically, 19 students were awarded grants or scholarships totaling $81,194, while 24 students obtained student loans exceeding $140,203.
Across all undergraduate students, 32 individuals received grants or scholarships amounting to $147,080. Additionally, 32 students borrowed a total of $168,265 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.
| Type of Aid | Number of students awarded aid | Percent awarded aid | Total amount of aid awarded | Average amount of aid per student |
|---|---|---|---|---|
| Federal grants | 19 | 40% | $81,194 | $4,273 |
| State / local grant or scholarship | 0 | 0% | $0 | $0 |
| Institutional grants or scholarships | 0 | 0% | $0 | $0 |
| Grant or scholarship aid total | 19 | 40% | $81,194 | $4,273 |
| Federal student loans | 24 | 51% | $140,203 | $5,842 |
| Other student loans | 0 | 0% | $0 | $0 |
| Student loan aid | 24 | 51% | $140,203 | $5,842 |
| Total student aid | 30 | 64% | $221,397 | $7,379 |
