The cost of tuition at Aspen Beauty Academy of Laurel rose by 9.6% for the 2022-23 school year, based on the most recent disclosure, according to the latest disclosure from the National Center for Education Statistics.
Students enrolled at the private for-profit institution paid $18,525 this year, an increase of $1,625 from the $16,900 tuition charged during the 2021-22 academic year.
Approximately 75% of the undergraduate students at the school are Maryland residents, while about 25% come from other states.
Data indicates that 88% of full-time undergraduates who began studies at Aspen Beauty Academy of Laurel in 2022-23 received some form of student financial aid. Specifically, 13 students were awarded grants or scholarships totaling $89,690, and 15 students obtained student loans exceeding $110,833.
Among all undergraduates, 100 students received grants or scholarships amounting to $600,199, while 103 students secured federal student loans totaling $855,124.
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 Aspen Beauty Academy of Laurel 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 | 13 | 76% | $89,190 | $6,861 |
| State / local grant or scholarship | 0 | 6% | $0 | $0 |
| Institutional grants or scholarships | 0 | 0% | $0 | $0 |
| Grant or scholarship aid total | 13 | 76% | $89,690 | $6,899 |
| Federal student loans | 15 | 88% | $110,833 | $7,389 |
| Other student loans | 0 | 0% | $0 | $0 |
| Student loan aid | 15 | 88% | $110,833 | $7,389 |
| Total student aid | 15 | 88% | $200,523 | $13,368 |
Information in this story was obtained from the National Center for Education Statistics. The source data can be found here.
