Nova Academy of Cosmetology

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2022 Average Net Price
$16,864
After Financial Aid
2019 Default Rate
4.35%
on Student Loans
2022 Enrolled Students
193
100% Full-Time

About

Nova Academy of Cosmetology is a higher education institution located in Olmsted County, MN. In 2022, the most popular 1 to 2 Year Postsecondary Certificate concentrations at Nova Academy of Cosmetology were General Cosmetology (64 degrees awarded) and Master Aesthetician (34 degrees).

In 2022, 146 degrees were awarded across all undergraduate and graduate programs at Nova Academy of Cosmetology. 97.9% of these degrees were awarded to women, and 2.05% awarded men. The most common race/ethnicity group of degree recipients was white (100 degrees), 6.25 times more than then the next closest race/ethnicity group, black or african american (16 degrees).

Costs

After taking grants and loans into account, the average net price for students is $16,864.

In 2022, 53% of undergraduate students attending Nova Academy of Cosmetology received financial aid through grants. Comparatively, 70% of undergraduate students received financial aid through loans.

Average Net Price

$16,864
2022 Value
2.59%
1 Year Growth

In 2022 Nova Academy of Cosmetology had an average net price — the price paid after factoring in grants and loans — of $16,864. Between 2021 and 2022, the average net price of Nova Academy of Cosmetology grew by 2.59%.

This chart compares the average net price of Nova Academy of Cosmetology (in red) with that of other similar universities.

Average net price is calculated from full-time beginning undergraduate students who were awarded a grant or scholarship from federal, state or local governments, or the institution.

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Financial Aid by Income Level

53%
Undergraduates Receiving Financial Aid through Grants
70%
Undergraduates Receiving Financial Aid through Loans

53% of undergraduate students at Nova Academy of Cosmetology received financial aid through grants or loans in 2022. This represents a decline of 5.36% with respect to 2021, when 56% of undergraduate students received financial aid.

This chart compares the average award discount at Nova Academy of Cosmetology (in red) with that of other similar universities.

The average award discount is the ratio between the average grant or scholarship value, and the cost, which is the sum of out-of-state tuition, room, board, book, supplies, and other expenses.

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Student Loan Default Rate

Cohort default rates only account for borrowers who default in the first three years, and some schools only have a small proportion of borrowers entering repayment. These rates should be interpreted with caution, as they may not be reflective of the entire school population.
4.35%
2019 Default Rate
4
Number of Defaults

In 2019 the default rate for borrower's at Nova Academy of Cosmetology was 4.35%, which represents 4 out of the 92 total borrowers.

A cohort default rate is the percentage of a school's borrowers who enter repayment on certain Federal Family Education Loan (FFEL) Program or William D. Ford Federal Direct Loan (Direct Loan) Program loans during a particular federal fiscal year (FY), October 1 to September 30, and default or meet other specified conditions prior to the end of the second following fiscal year.

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Enrollment

Nova Academy of Cosmetology had a total enrollment of 193 students in 2022. The full-time enrollment at Nova Academy of Cosmetology is 193 students and the part-time enrollment is 0. This means that 100% of students enrolled at Nova Academy of Cosmetology are enrolled full-time.

The enrolled student population at Nova Academy of Cosmetology, both undergraduate and graduate, is 83.4% White, 7.77% Hispanic or Latino, 4.66% Black or African American, 3.63% Two or More Races, and 0.518% American Indian or Alaska Native.

Students enrolled at Nova Academy of Cosmetology in full-time Undergraduate programs are most commonly White Female (81.9%), followed by Hispanic or Latino Female (7.25%) and Black or African American Female (4.15%).

Full-Time vs Part-Time Enrollment

100%
Full-Time Enrollment

The total enrollment at Nova Academy of Cosmetology in 2022, both undergraduate and graduate, is 193 students. The full-time enrollment at Nova Academy of Cosmetology is 193 and the part-time enrollment is 0.

This chart shows the full-time vs part-time enrollment status at Nova Academy of Cosmetology (in red) compares to similar universities.

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Retention Rate over Time

86%
2022 Retention Rate

Retention rate measures the number of first-time students who began their studies the previous fall and returned to school the following fall. The retention rate for full-time undergraduates at Nova Academy of Cosmetology was 86%. Compared with the full-time retention rate at similar (79%), Nova Academy of Cosmetology had a retention rate higher than its peers.

This chart shows the retention rate over time at Nova Academy of Cosmetology (highlighted in red) compares to similar universities.

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Enrollment by Race & Ethnicity

Most Common Race or Ethnicity (2022)
  1. White
    161 enrolled students
  2. Hispanic or Latino
    15 enrolled students
  3. Black or African American
    9 enrolled students

The enrolled student population at Nova Academy of Cosmetology is 83.4% White, 7.77% Hispanic or Latino, 4.66% Black or African American, 3.63% Two or More Races, and 0.518% American Indian or Alaska Native. This includes both full-time and part-time students as well as graduate and undergraduates. By comparison, enrollment for all is 35.2% White, 26.5% Hispanic or Latino, and 17.4% Black or African American.

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Graduates

In 2022, 140 more women than men received degrees from Nova Academy of Cosmetology. The most common race/ethnicity group of degree recipients at Nova Academy of Cosmetology is white (100 degrees awarded). There were 6.25 times more white recipients than the next closest race/ethnicity group, black or african american (16 degrees).

The most common 1 to 2 Year Postsecondary Certificate concentration at Nova Academy of Cosmetology is General Cosmetology (64 degrees awarded), followed by Master Aesthetician (34 degrees).

In 2022,  the most specialized majors across all degree types at Nova Academy of Cosmetology, meaning they have significantly more degrees awarded in that concentration than the national average across all institutions, are Personal & Culinary Services (146 degrees awarded).

Common Jobs by Major

Most Common Job

The most common jobs for people who hold a degree in one of the 5 most specialized majors at Nova Academy of Cosmetology are Chefs & head cooks (8,521 people), Cooks (3,235 people), Morticians, undertakers, & funeral directors (2,785 people), Food service managers (2,333 people), and Firstline supervisors of food preparation & serving workers (1,142 people).

The most specialized majors at Nova Academy of Cosmetology in 2022 are Personal & Culinary Services (146 degrees awarded) (as of 2022).

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Highest Paying Jobs by Major

The highest paying jobs for people who hold a degree in one of the 5 most specialized majors at Nova Academy of Cosmetology are Chief executives & legislators, Lawyers, & judges, magistrates, & other judicial workers, Lodging managers, Financial managers, and Management analysts

The most specialized majors at Nova Academy of Cosmetology are Personal & Culinary Services (146 degrees awarded) (as of 2022).

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Common Industries by Major

Most Common Industry

The most common industries for people who hold a degree in one of the 5 most specialized majors at Nova Academy of Cosmetology are Restaurants & Food Services (12,244 people), Funeral homes, & cemeteries & crematories (3,016 people), Traveler accommodation (1,919 people), Elementary & secondary schools (1,775 people), and Construction (1,430 people).

The most specialized majors at Nova Academy of Cosmetology are Personal & Culinary Services (146 degrees awarded) (as of 2022).

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Majors Awarded

IPEDS uses the Classification of Instructional Programs (CIP) standard, so the categories may not match the exact concentrations offered by Nova Academy of Cosmetology.
Most Common (2022)
  1. 64 degrees awarded
  2. 34 degrees awarded

In 2022, the most common 1 to 2 year postsecondary certificate concentration at Nova Academy of Cosmetology was General Cosmetology with 64 degrees awarded.

This visualization illustrates the percentage of degree-majors recipients from 1 to 2 year postsecondary certificate programs at Nova Academy of Cosmetology according to their major.

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Sex Breakdown for Common Majors

3
Degrees Awarded to Men
in 2022
143
Degrees Awarded to Women
in 2022

In 2022, 3 degrees were awarded to men at Nova Academy of Cosmetology, which is 0.021 times less than the number of degrees awarded to females (143).

This chart displays the sex disparity between the top 5 majors at Nova Academy of Cosmetology by degrees awarded.

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Most Common Male Majors

In 2022, 2 degrees were awarded to men at Nova Academy of Cosmetology in General Cosmetology, which is 0.0323 times less than the 62 female recipients with that same degree.

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Most Common Female Majors

In 2022, 62 degrees were awarded to men at Nova Academy of Cosmetology in General Cosmetology, which is 31 times more than the 2 male recipients with that same degree.

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Time to Complete

47%
100% Completion Time
77%
150% Completion Time

In 2022, 47% of students graduating from Nova Academy of Cosmetology completed their program within 100% "normal time" (i.e. 4 years for a 4-year degree). Comparatively, 77% completed their degrees within 150% of the normal time, and 79% within 200%.

The following chart shows these completion rates over time compared to the average for the Carnegie Classification group.

Graduation rate is defined as the percentage of full-time, first-time students who received a degree or award within a specific percentage of "normal time" to completion for their program.

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Race & Ethnicity by Share

Most Common Student Race or Ethnicity (2022)
  1. White
    100 degrees awarded
  2. Black or African American
    16 degrees awarded
  3. Asian
    10 degrees awarded

The most common race/ethnicity at Nova Academy of Cosmetology is white (100 degrees awarded). There were 6.25 times more white recipients than the next closest race/ethnicity group, black or african american (16 degrees).

0% of degree recipients (0 students) did not report their race.

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Race & Ethnicity by Sex

Most Common Sex Demographic (2022)
  1. White Female
    99 degrees awarded
  2. Black or African American Female
    16 degrees awarded
  3. Hispanic or Latino Female
    10 degrees awarded

The most common race/ethnicity and sex grouping at Nova Academy of Cosmetology is white female (99 degrees awarded). There were 6.19 times more white female recipients than the next closest race/ethnicity group, black or african american female (16 degrees).

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Operations

Salary Expenditure

$771k
2022 Salaries
15.1%
growth from 2021

In 2022, Nova Academy of Cosmetology paid a median of $771k in salaries, a 15.1% growth from the previous year.

The median for similar is 668k (13.2% of overall expenditures).

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