The Summit Salon Academy-Lexington maintained the same tuition rates for the 2022-23 school year, as indicated in 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 $7,800 for tuition during both the 2021-22 and 2022-23 academic years.
The entire undergraduate student body at the school consists of residents from Kentucky.
Data reveals that 79% of full-time undergraduates who began their studies at Summit Salon Academy-Lexington in the 2022-23 academic year received some form of financial aid. Specifically, 32 students were awarded grants or scholarships totaling $179,205, while 41 students secured student loans amounting to over $315,260.
Across all undergraduates, 118 students benefited from grants or scholarships totaling $509,280. Additionally, 128 students obtained federal student loans totaling $715,020.
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 | 32 | 38% | $179,205 | $5,600 |
| State / local grant or scholarship | 0 | 0% | $0 | $0 |
| Institutional grants or scholarships | 0 | 0% | $0 | $0 |
| Grant or scholarship aid total | 32 | 38% | $179,205 | $5,600 |
| Federal student loans | 41 | 49% | $315,260 | $7,689 |
| Other student loans | 0 | 0% | $0 | $0 |
| Student loan aid | 41 | 49% | $315,260 | $7,689 |
| Total student aid | 66 | 79% | $494,465 | $7,491 |
