Cosmetology School Student Loans and Financial Aid for 2025

Student Finance & Loan Expert

Cosmetology school can be your launching pad for a fulfilling and creative journey in the beauty industry. However, financing your education can be a hurdle. The good news is you have several financial aid options available. From federal financial aid to private loans, various avenues can help bridge the gap between your savings and the cost of cosmetology school.

In the United States alone, the average tuition for cosmetology programs for 2025 can range from $8,000 to $21,000, so understanding your financial aid options is crucial. Using my decades of experience as a career planner, I put together this guide to cosmetology student loans and financial aid options for 2025, along with information on eligibility criteria and tips on loan repayment.

Key Things You Should Know About Cosmetology Student Loans and Financial Aid

The average cost of cosmetology school for 2025 greatly varies across the United States, from $8,145 in Alaska to $20,184 in Nevada.
Cosmetology school students enrolled in accredited programs can determine their eligibility for federal aid through the Free Application for Federal Student Aid (FAFSA), which is used by 71% of students applying for financial assistance.
Students can also get financial aid through private loans and scholarships, which are offered by private companies and professional associations.
In 2023, undergraduates received an average of $15,480 each student in financial aid.
Data from the most recent school year indicates that students received $240.7 billion in federal student aid and $14.7 billion from nonfederal loans.

What federal financial aid options are available for cosmetology students?
Are cosmetology students eligible for private loans?
What scholarships are available for cosmetology students?
What is the average cost of cosmetology school for 2025?
What are the key factors to consider when comparing federal and private loans for cosmetology students?
What are the eligibility criteria for cosmetology school student loans?
How do you apply for financial aid for cosmetology school?
What other financial resources can help cosmetology students manage costs?
Can I refinance my cosmetology student loans?
Can additional qualifications boost your career prospects after cosmetology school?
Are online cosmetology degrees respected by industry professionals?
Is financial aid available for online cosmetology programs?
Is pursuing an advanced degree a viable strategy to improve financial outcomes in cosmetology?
Can cosmetology student loans offer tax benefits?
Are there any student loan forgiveness programs for cosmetology graduates?
When Should I Apply for Cosmetology Student Loans?
How can I compare cosmetology education with other affordable career paths?
What hidden fees could inflate your cosmetology student loan costs?
Are there funding options for cosmetology students attending summer classes?
What are the repayment options for cosmetology student loans?
What are the most common mistakes in applying for cosmetology school student loans?
Is cosmetology education a sound long-term financial investment?
What are the best strategies for paying off cosmetology student loans quickly?
Other Things You Should Know About Cosmetology Student Loans

What Graduates Have to Say About Getting Student Loans for Cosmetology School

"Cosmetology school was always my dream, but I worried about the cost. Student loans allowed me to focus on my passion without the financial burden. Now, I'm a stylist at a high-end salon, and I love the creative freedom and the connections I make with clients. It was the best investment I ever made!" - Ivan

"Juggling work and school can be tough, but student loans helped me pay the bills while I trained. It wasn't easy, but the flexible repayment options gave me peace of mind. Now, I'm a freelance makeup artist, setting my own hours and working on exciting projects." - Trish

"Thanks to student loans, I could attend a top cosmetology program with experienced instructors. The extra training made a huge difference – I landed a job at a prestigious spa right after graduation! The loan helped me get a head start in my dream career, and I'm so grateful for the opportunity." - Elaine

What federal financial aid options are available for cosmetology students?

Cosmetology students have a number of federal financial aid options, including grants, loans, and work-study programs. This is critical to students who need financial support, especially those who take out loans. Other means of financial aid can reduce one's financial obligations and help out in repaying loans.

After all, students, on average, take 20 years to settle their loans and pay about $2,166 in interest. Moreover, an undergraduate student receives an average of $15,480 in financial aid per year.

Let us go over each type of financial aid students can pursue:

Pell Grants. These need-based grants are awarded directly to undergraduate students, including those in cosmetology programs. They do not need to be repaid.
Federal Supplemental Educational Opportunity Grant. This program offers additional grant funding to students with exceptional financial need who have already received a Pell Grant. Availability is limited, and awards are made by the financial aid office at participating schools. Like Pell Grants, FSEOG awards do not require repayment.
Direct Unsubsidized Loans. These loans are extended to graduate, professional, and undergraduate students, regardless of financial need. Students are responsible for all interest payments, which can be deferred until after graduation.
Direct PLUS Loans. These loans cater to parents of undergraduates, professional students, and graduate students. They have high interest and are usually obtained to cover education costs that have not been covered by other instruments of financial aid. A credit check is required and applicants must not have an adverse credit history.
Federal Work-Study Program. This program helps students with financial needs find jobs on campus or with approved employers. It provides students with an income stream to help pay for their educational expenses.

To determine which federal programs are available, students should submit a FAFSA application. Many states and schools also use information from the program to hand out their own financial aid, making it a crucial first step in securing financial support for cosmetology schools.

A recent report shows that 71% of families use the FAFSA to apply for financial assistance. The chart below details the most common types of federal student aid granted in the 2022 to 2023 school year.

Are cosmetology students eligible for private loans?

Yes, cosmetology students can obtain private loans. Given that federal loans for cosmetology students are not always available, private lenders offer worthwhile options for those who need financial support. Private student loans often have higher interest rates and stricter repayment plans.

It is important to note that there can be big penalties if a student misses payments or cannot repay the loan. It is also harder to get a private loan than a federal loan because it depends on a student's credit score. As such, many banks and private lenders let students use a co-signer with good credit to help get the loan.

Loans make up a good percentage of the financial aid students receive to cover their educational expenses. Data from the 2022-2023 school year indicates that students received a total of $255.38 billion in student aid. The chart below provides more details on components of student aid.

What scholarships are available for cosmetology students?

Cosmetology students have a wealth of scholarship options available to them, with most offering at least $1,000 in rewards. Students can apply for multiple scholarships, provided they are eligible, to gradually whittle down the costs.

The scholarships available include the following:

Professional Beauty Association (PBA) Minerva Beauty Scholarship. The PBA recognizes outstanding talent by awarding five annual scholarships of $1,000 each to currently enrolled cosmetology program students.
Smooth 'N Shine Cosmetology Scholarships. Smooth 'N Shine offers substantial scholarships ranging from $1,000 to a transformative $25,000. These scholarships are open to high school graduates currently enrolled in, or planning to enroll in, accredited cosmetology programs.
PBA/Sally Beauty Scholarships. Sally Beauty Supply fosters career development through scholarships of $1,000 and $500. High school seniors planning to attend cosmetology school and licensed cosmetologists seeking continuing education are encouraged to apply.
The Joe Francis Scholarship Foundation. The Joe Francis Scholarship Foundation invests in future professionals by awarding $1,000 scholarships to students enrolled in or preparing to enroll in, cosmetology programs.
Sport Clips & American Crew ACE Scholarship Program. Elevate your skills and knowledge! The ACE (Access to Cosmetology Education) Scholarship Program offers up to 15 scholarships of $1,000 each to deserving students enrolled at AACS-member schools.
OPI Scholarship. The Schaeffer Family Foundation champions student success. They award scholarships to qualified cosmetology and nail technician students attending select OPI schools.
Empowerment Through Education Scholarship & Passion to Succeed Student Scholarship. These scholarships offer $1,000 and $6,500 respectively to students dedicated to cosmetology careers.
Sage Michaela Lucas Timing is Everything Scholarship & Beauty & Wellness Professionals Scholarship. These scholarships provide $5,000 and $2,500 respectively to aspiring cosmetologists.

What is the average cost of cosmetology school for 2025?

According to recent data, the average tuition of a cosmetology school in the United States is $14,480, while the average cost of attendance is about $16,231 and can be anywhere between $15,000 and $20,000. This is considerably cheaper than the average private university tuition, which is at $38,421, and out-of-state tuition at 4-year public universities, which clocks in at $28,386.

Besides tuition, cosmetology students would pay for cosmetology kits, containing scissors, a curling iron, a blow dryer, combs, brushes, a straightening iron, and other cosmetology equipment, which cost around $1,693. They will also have to pay around $58 for licensure.

What are the key factors to consider when comparing federal and private loans for cosmetology students?

Cosmetology students have many factors to consider when comparing federal and private student loans, and the most crucial ones include eligibility, loan availability, interest, and security.

Eligibility

Federal Loans. US citizenship or eligible non-citizen status, valid Social Security number, FAFSA completion, enrollment at least half-time in a Title IV accredited cosmetology program, and satisfactory academic progress (SAP) are required. Males aged 18-25 must also be registered with Selective Service.
Private Loans. Eligibility criteria vary by lender but often include creditworthiness (good credit history or a cosigner), income and employment verification, school enrollment status, and potentially citizenship requirements.

Interest Rates and Repayment

Federal Loans. Generally offer lower, fixed interest rates and flexible repayment plans, including income-driven options, deferment, and forbearance.
Private Loans. Typically have higher interest rates, which can be fixed or variable. Repayment plans for private cosmetology student loans are often less flexible.

Borrower Protections

Federal Loans. Offer benefits like interest subsidies (Subsidized Loans), income-driven repayment options, and potential loan forgiveness programs.
Private Loans. Generally offer fewer borrower protections.

Loan Availability

Federal Loans. Availability for online cosmetology programs may be limited due to the lack of required hands-on training.
Private Loans. Can fill funding gaps for online programs, but come with potentially less favorable terms.

Special Considerations

School Costs. Federal loans typically cover a portion of school costs, with private loans potentially filling the funding gap. Considering the school's net price is crucial when choosing a loan.
Accreditation. Federal loans require attendance at an accredited institution. Private loans may be more accessible, but terms vary by lender.

4-5 years - duration to become a cosmetologist

What are the eligibility criteria for cosmetology school student loans?

Private and federal cosmetology student loans have their own set of criteria, mainly proving an aspiring cosmetologist's ability to repay the loan and the quality of the cosmetology program being pursued.

Students are advised to bring the following documents based on the type of loan they wish to apply for:

Federal Student Loans

Accredited Program. Enrollment in a cosmetology program accredited by a recognized agency, like the NACCAS, COE, or the ACCSC, is essential. Accreditation ensures program quality and eligibility for federal financial aid.
Citizenship Status. Only US citizens or qualifying non-citizens, such as permanent residents, can access federal student loans.
High School Diploma. A high school diploma or an equivalent qualification is typically required.
Half-Time Enrollment. Learners must be enrolled at least half-time in an eligible program.
Satisfactory Academic Progress. Maintaining the requisite academic progress is crucial. This usually involves achieving a minimum GPA and completing a certain percentage of coursework each term.
FAFSA Completion. The FAFSA is mandatory to determine eligibility for student loans and other forms of federal aid.
No Defaults on Prior Loans. Students cannot have outstanding defaults on past federal student loans or owe a refund on a federal grant.

Private Student Loans

Creditworthiness. Private lenders heavily weigh an applicant's credit history. Students with limited credit history may need a co-signer with a strong credit score to qualify.
Eligible Program. Enrollment in a cosmetology program is required, but specific program requirements may vary by lender.
Proof of Income. Some lenders might require proof of income or employment, especially for students without a co-signer.
School Certification. The school must verify the student's enrollment and the requested loan amount.
Age Requirement. Students must be at least 18 years old or the age of majority in their state.
Repayment Ability. Private lenders assess the student's (or co-signer's) ability to repay the loan, considering factors like debt-to-income ratio.

How do you apply for financial aid for cosmetology school?

Applying for financial aid has its share of complexities for first-timers since cosmetology students will have to explore various aid options and select the most beneficial ones to their situation.

As such, I prepared a step-by-step guide for learners to follow or at least use as a reference:

Check Eligibility for Federal Aid. Verify that the chosen cosmetology school is eligible for federal financial aid. This can be confirmed by checking if it's a Title IV institution. The school's website or the College Navigator tool provided by the U.S. Department of Education.
Complete the FAFSA. Fill out the online FAFSA form to determine federal financial aid eligibility. The application requires information such as federal tax returns, Social Security numbers, driver's license (optional), bank statements, investment details, untaxed income records, and the chosen school's code.
Submit the FAFSA. Once completed, submit the FAFSA application electronically. Remember to include the cosmetology school's code.
Review and Accept Aid. After the FAFSA submission, the school will receive the student's financial aid information and contact them regarding their potential award package. This package may include grants, loans, and work-study opportunities. The student should carefully review and accept the offered aid.
Explore Additional Aid Options. Look beyond federal aid and explore scholarships, grants, and private student loans offered by the school, state, or private organizations. These can significantly reduce the financial burden.
Maintain Satisfactory Academic Progress (SAP). To continue receiving federal financial aid, students must maintain SAP within their program. This typically involves meeting specific GPA and course completion requirements set by the school.

What other financial resources can help cosmetology students manage costs?

Beyond loans and scholarships, cosmetology students can explore additional financial resources to alleviate the costs of their education. One overlooked option is part-time or freelance employment within the beauty industry itself. Many students gain valuable experience and income by offering basic services such as hairstyling or makeup application to local clients, which not only helps with expenses but also builds their portfolios.

Another avenue is employer-sponsored tuition assistance programs. Some salons and beauty companies provide financial support or reimbursement for cosmetology education in exchange for a commitment to work for them post-graduation. Researching local businesses and inquiring about such programs can be a fruitful endeavor for students seeking funding.

Finally, students should consider working with specialized financial institutions for educational loans. By comparing offerings from the banks that give student loans, prospective cosmetologists can identify options with competitive interest rates and flexible repayment plans tailored to their financial situations. This step ensures that students secure funding on favorable terms and focus on their training without unnecessary stress. Utilizing a mix of these resources can significantly ease the financial burden, paving the way for a successful career in cosmetology.

Can I refinance my cosmetology student loans?

Refinancing cosmetology student loans may offer the advantage of lower interest rates and adjusted repayment terms. Unlike simple consolidation, refinancing can simplify monthly payments while potentially reducing the overall cost of debt. It is important to note that refinancing federal loans could result in losing benefits, such as income-driven repayment options or deferment eligibility. Cosmetology students should carefully review eligibility requirements, interest rates, and associated fees before proceeding. Consider evaluating options from reputable lenders like college loan providers to identify terms that best match your financial objectives.

Can additional qualifications boost your career prospects after cosmetology school?

Supplementing your cosmetology education with targeted credentials can strengthen your professional profile and enhance marketability. Specialized training programs and online certifications provide niche expertise that employers value, potentially leading to higher starting salaries and faster loan repayment. Evaluating career-focused courses and certifications within your training plan may offer a competitive edge and broaden your employment opportunities without overlapping core curriculum content.

Are online cosmetology degrees respected by industry professionals?

Accreditation and industry affiliations are key in validating the credibility of online cosmetology programs. Employers often evaluate the quality of an online cosmetology degree by confirming whether the school meets rigorous educational standards and maintains established partnerships within the beauty industry. Verified accreditation ensures that graduates have attained the technical proficiency needed for contemporary cosmetology roles, while also providing reassurance to potential employers regarding the quality of training. For further insights into how recognition impacts online education, consult are online degrees respected.

Is financial aid available for online cosmetology programs?

How much does online college cost for cosmetology students? Costs vary as with on-campus programs, but financial aid is available to students of online cosmetology programs. The aid types are similar to the range available to on-campus students, but some instruments of federal aid have limited availability.

For any potential federal financial aid eligibility, ensure the online cosmetology program is accredited by a recognized accrediting body. This accreditation is crucial for various financial aid opportunities.

Here are some of the aid online students can obtain:

Federal Aid (FAFSA). While the availability of traditional federal grants and loans (Pell Grants, Direct Subsidized/Unsubsidized Loans) for online programs is limited due to the lack of hands-on training requirements, learners can still complete the FAFSA to explore potential eligibility.
Federal Work-Study. Participation in the Federal Work-Study program may vary for online students depending on the school's approach to remote work opportunities.
State Financial Aid. Many states offer grants, scholarships, and loan programs for residents enrolled in accredited online cosmetology programs. Eligibility and application processes vary by state, so students should research their state's specific offerings.
Institutional Financial Aid. Many accredited online cosmetology programs provide their own scholarships, grants, and payment plan options. Learners are advised to explore these resources to see what support their chosen school offers.
Private Scholarships and Grants. Numerous private organizations champion cosmetology education. The Professional Beauty Association (PBA), the Beauty Changes Lives Foundation, and countless others offer scholarships and grants that can be used for online programs. Research these opportunities to unlock valuable financial resources.
Private Loans; While federal aid is generally preferred due to better interest rates and repayment terms, private cosmetology student loans can be an option for online cosmetology programs. Remember, these loans typically require a credit check and may have less favorable terms than federal loans. Borrowing privately should be a last resort after exploring all other financial aid avenues.

Is pursuing an advanced degree a viable strategy to improve financial outcomes in cosmetology?

Advanced academic credentials in areas such as business management or cosmetology administration can expand career opportunities and drive higher earnings, which in turn may alleviate long-term financial pressures from student loans. By strategically supplementing technical training with advanced studies, professionals can transition into leadership or specialized roles that offer improved compensation and stability. For those seeking flexible, career-enhancing education that minimizes traditional research demands, consider an online PhD no dissertation option.

Can cosmetology student loans offer tax benefits?

Cosmetology students should evaluate whether the interest paid on their student loans qualifies for tax deductions, as this can effectively lower their overall repayment burden. Assessing eligibility for such deductions requires careful review of IRS guidelines and consulting with a tax professional. Additionally, comparing loan options that specifically support career-oriented training may reveal opportunities for tax-favored financing; for instance, reviewing options under student loans for trade schools can provide insights into alternative financing structures with potential tax advantages.

Are there any student loan forgiveness programs for cosmetology graduates?

While most federal forgiveness initiatives focus on public service and teaching roles, cosmetology graduates generally have limited options for student loan forgiveness. Some private lenders may provide discount incentives or partial forgiveness for borrowers who maintain consistent repayment records or meet specific employment conditions with partnered organizations. It is advisable for applicants to review lender policies and seek state-specific programs that may target vocational training. Additionally, graduates exploring alternative career paths—such as how to become a substance abuse counselor in scottsdale—should research forgiveness options relevant to those fields.

When Should I Apply for Cosmetology Student Loans?

Determining the best time to apply for cosmetology student loans involves aligning your application with academic schedules and financial planning milestones. Applicants should evaluate enrollment dates, tuition fee due dates, and the release of financial aid packages to optimize their borrowing strategy. It is essential to review each lender’s specific deadlines and prepare the required documentation in advance. Additionally, students are advised to consider both federal and private options, ensuring that they meet eligibility criteria and take advantage of available benefits during peak application periods. For further guidance on timing your application, please refer to Can you apply for student loans at any time?.

How can I compare cosmetology education with other affordable career paths?

Evaluating the full cost of cosmetology education alongside alternative career paths is essential for making an informed financial decision. Prospective students should consider not only tuition, fees, and supplies but also certification costs and long-term earning potential. A thorough cost–benefit analysis can reveal opportunities to redirect financial resources toward programs that offer more sustainable value over time. For instance, researching options that provide the cheapest college tuition can shed light on more budget-friendly educational avenues while maintaining quality training and career prospects.

What hidden fees could inflate your cosmetology student loan costs?

When reviewing cosmetology student loan offers, borrowers should scrutinize potential hidden fees that can significantly increase the overall cost. These fees may include origination charges, prepayment penalties, late payment fees, and variable interest rate adjustments that are not always transparently disclosed at first glance. Analyzing the complete loan contract and comparing fee structures across different lenders is essential to ensure you select a financially sound option. Additionally, consider evaluating alternative educational investments such as the easiest bachelors degree to determine if a broader educational pathway might offer lower hidden costs and improved long-term value.

Are there funding options for cosmetology students attending summer classes?

Many cosmetology students look to advance their education during the summer to accelerate their programs or gain additional certifications. However, funding summer courses can present unique challenges, as traditional financial aid may not always align with short-term academic schedules. In such cases, private student loans can be an invaluable resource for covering tuition, fees, and related education costs during summer sessions.

Private student loans for summer classes are particularly beneficial for students who have exhausted their federal aid options or need immediate access to funding. These loans often come with customizable repayment plans and flexible borrowing limits, ensuring students can focus on their education without financial interruptions. When selecting a private loan, compare interest rates, repayment terms, and special features like deferment options to find a plan that fits your financial needs.

Additionally, students should explore institutional scholarships and grants specifically designed for summer programs, which can reduce reliance on loans. Proper financial planning, including budgeting for summer tuition, materials, and living expenses, can also mitigate the need for extensive borrowing. Taking these actions can help cosmetology students continue their education seamlessly and achieve their career aspirations faster.

What are the repayment options for cosmetology student loans?

Like students of programs, cosmetology students have various repayment options for both federal and private loans. Federal loans often have more flexible repayment options.

Federal Student Loans

Income-Driven Repayment Plans. These plans can change the monthly payment in accordance with a borrower's income and means to pay. The payment amount can be altered every year to account for the possible change in financial situations.
Standard Repayment Plan. This plan features a fixed monthly payment over 10 years. This option is ideal for borrowers with a stable income seeking to quickly pay off their loans.
Graduated Repayment Plan. This plan reduces the repayment burden with lower initial monthly payments. These sums gradually increase over a 10-year period, making repayment manageable if income growth is anticipated.
Extended Repayment Plan. Borrowers with federal student loan debt over $30,000 could qualify for this plan. It staggers the term of repayment to 25 years, which results in lower monthly payments. This, however, could result in more interest paid overall. The plan caters to fixed and graduated payment options.

Private Student Loans

Standard Repayment. Similar to federal loans, this plan offers fixed monthly payments over a term typically ranging from 5 to 20 years.
Graduated Repayment. This plan mirrors the federal option, with payments starting lower and gradually increasing every two years.
Interest-Only Repayment. During school and for a grace period after graduation, some private lenders may allow interest-only payments. However, this option doesn't reduce the principal amount owed.

While some private lenders may offer extended repayment or income-based repayment plans, the specific terms will vary depending on the lender.

What are the most common mistakes in applying for cosmetology school student loans?

Navigating financial aid and student loans for cosmetology school can be tricky, and even small mistakes can have lasting consequences. Here are some of the most common errors to avoid when applying for financial aid or loans:

Overlooking Scholarship and Grant Opportunities: Many students focus solely on loans without exploring scholarships or grants that don't require repayment. Research all available funding options before taking on debt.
Failing to Compare Loan Options: Not all loans are created equal; federal and private loans differ in terms, interest rates, and repayment plans. Compare lenders and prioritize loans with favorable terms, such as those outlined for student loans for cosmetology school.
Borrowing Too Much: It's easy to overestimate how much funding you need. Create a detailed budget, including tuition, supplies, and living expenses, to avoid excessive borrowing.
Missing FAFSA Deadlines: Missing the Free Application for Federal Student Aid (FAFSA) deadlines can disqualify you from federal aid. Set reminders to complete the application on time.
Ignoring Loan Terms: Not understanding interest rates, repayment terms, or deferment options can lead to future financial strain. Take the time to review loan agreements carefully and ask questions if needed.
Failing to Account for Post-Graduation Earnings: Taking out loans without considering your expected income in cosmetology can lead to repayment challenges. Research starting salaries in your field and plan your borrowing accordingly.

By avoiding these mistakes, you can make smarter financial decisions and set yourself up for success in your cosmetology education and beyond.

Is cosmetology education a sound long-term financial investment?

Evaluating the long-term return on a cosmetology education involves comparing future earnings, job stability, and growth opportunities against the initial costs incurred. Many professionals find that while cosmetology may not lead to the highest paying degrees, it offers unique benefits such as entrepreneurial potential, flexible career paths, and creative fulfillment. Key considerations include analyzing the overall cost of education in relation to projected income, identifying niche market segments that can command premium services, and understanding industry trends that influence earning capacity over time. This balanced assessment helps prospective students make informed decisions aligned with their financial and career objectives.

What are the best strategies for paying off cosmetology student loans quickly?

Plenty of strategies revolving around maximizing one's income, leveraging other forms of federal aid, proper budgeting, and aggressive repayments are necessary when dealing with high outstanding balances.

Since not everyone shares the same financial situation, I advise students to utilize a combination of the following strategies to reduce their financial burden:

Deal with Federal Loans First. Compared to private loans, federal loans often have more flexible payment options and lower interest rates. Leveraging other forms of federal aid like grants and scholarships before turning to private lenders is advantageous.
FAFSA Renewal. Annual FAFSA renewal guarantees continued eligibility for federal grants and loan programs. This minimizes one's overall reliance on loans.
Pay More Than the Minimum. Additional payments considerably reduce the total interest paid and shorten the repayment duration. Consider bi-weekly payments, essentially making at least an extra payment annually.
Round up the Payments. Rounding up monthly payments to the nearest hundred and applying the difference as an extra payment is a small step with a big impact, accelerating repayment over time.
Income-Driven Repayment Plans. If struggling with a high monthly federal loan payment, explore income-driven repayment plans. These plans base payments on income, possibly offering lower payments but extending the repayment term. Keep in mind that a longer term means more overall interest.
Maximize Earning Potential. Licensed cosmetologists should explore opportunities to maximize their income. Specialization in certain areas, building a strong clientele, or working in a high-end salon can significantly increase earning potential, allowing for faster loan repayment.
Loan Consolidation. Consolidating federal loans into a single loan simplifies management and can potentially lower the overall interest rate, but it may not always shorten the repayment term.
Loan Forgiveness Programs. Explore potential loan forgiveness programs offered by the government or employers. Public Service Loan Forgiveness (PSLF) may be an option for those working in qualifying public service settings.
Budgeting. Develop a comprehensive budget to track income and expenses, allocating sufficient funds for loan repayments without compromising essential needs.
Prioritize Loan Repayment. Make loan repayment a top financial priority. The sooner the loans are paid off, the less interest accumulates.
Financial Counseling. Do not hesitate to seek financial counseling from a professional for personalized advice on managing debt and developing a customized repayment strategy.

$41,780 - average annual salary of a cosmetologist; $34,970 - median annual salary of a cosmetologist

Key Facts

The average tuition of a cosmetology school in the United States is $14,480.
In 2022-2023, students were awarded $240.7 billion from federal aid, while non-federal sources provided $14.7 billion.
Eligible undergraduates each received an average of $15,480 in financial aid in 2023.
71% of families use the FAFSA to apply for financial assistance.
Cosmetology students have a wealth of scholarship options available to them, with most offering at least $1,000 in rewards.

Other Things You Should Know About Cosmetology Student Loans

How much is a cosmetology program in Texas?

According to 2023 data from Milady, the average cost of attendance for a cosmetology program in Texas is $15,819, of which $13,852 is the average tuition and fees, $1,917 is the average cost of a cosmetology kit, and $50 is the licensing fee.

What is the average salary of cosmetologists?

Based on 2024 data from the United States Bureau of Labor Statistics (BLS), the average annual salary of cosmetologists, hairdressers, and hairstylists in the United States is $41,780. The median annual salary is $34,970.

How long does it take to become a cosmetologist?

It takes around four to five years to become a cosmetologist. An associate degree in cosmetology takes about two years to complete and finishing an internship may take two or more years. Students can take an accelerated program or a certificate program to speed up the duration.

References:

BLS (2024, April 3). 39-5012 Hairdressers, hairstylists, and cosmetologists. BLS
Cass, B. (2023, August 30). Key FAFSA changes will impact student aid. LinkedIn
College Board (2023). Trends in college pricing and student aid 2023. College Board
College Board (2023). Trends in student aid: highlights. College Board
Hanson, M. (2024, May 28). Average cost of college & tuition. Education Data Initiative
Hanson, M. (2024, May 25). Financial aid statistics. Education Data Initiative
Indeed (2024, April 19). How long does it take to become a cosmetologist? Indeed
Milady (2023, May 4). How much is cosmetology school in 2024? (In all 50 States). Milady