Formations Institute of Cosmetology & Barbering

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2022 Average Net Price
$16,841
After Financial Aid
2020 Default Rate
7.55%
on Student Loans
2022 Enrolled Students
48
100% Full-Time

About

Formations Institute of Cosmetology & Barbering is a higher education institution located in Woodward County, OK. In 2022, the most popular 1 to 2 Year Postsecondary Certificate concentrations at Formations Institute of Cosmetology & Barbering were General Cosmetology (15 degrees awarded), Barbering (5 degrees), and Cosmetology, Barber, & Nail Instructor (1 degrees).

In 2022, 36 degrees were awarded across all undergraduate and graduate programs at Formations Institute of Cosmetology & Barbering. 91.7% of these degrees were awarded to women, and 8.33% awarded men. The most common race/ethnicity group of degree recipients was white (28 degrees), 7 times more than then the next closest race/ethnicity group, hispanic or latino (4 degrees).

In 2020 the default rate for borrower's at Formations Institute of Cosmetology & Barbering was 7.55%, corresponding to 4 out of the 53 total borrowers.

Not applicable, not in Carnegie universe (not accredited or nondegree-granting)Unknown

Costs

After taking grants and loans into account, the average net price for students is $16,841.

In 2022, 71% of undergraduate students attending Formations Institute of Cosmetology & Barbering received financial aid through grants. Comparatively, 67% of undergraduate students received financial aid through loans.

Average Net Price

$16,841
2022 Value
11.7%
1 Year Growth

In 2022 Formations Institute of Cosmetology & Barbering had an average net price — the price paid after factoring in grants and loans — of $16,841. Between 2021 and 2022, the average net price of Formations Institute of Cosmetology & Barbering grew by 11.7%.

This chart compares the average net price of Formations Institute of Cosmetology & Barbering (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

71%
Undergraduates Receiving Financial Aid through Grants
67%
Undergraduates Receiving Financial Aid through Loans

71% of undergraduate students at Formations Institute of Cosmetology & Barbering received financial aid through grants or loans in 2022. This represents a growth of 26.8% with respect to 2021, when 56% of undergraduate students received financial aid.

This chart compares the average award discount at Formations Institute of Cosmetology & Barbering (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.
7.55%
2020 Default Rate
4
Number of Defaults

In 2020 the default rate for borrower's at Formations Institute of Cosmetology & Barbering was 7.55%, which represents 4 out of the 53 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

Formations Institute of Cosmetology & Barbering had a total enrollment of 48 students in 2022. The full-time enrollment at Formations Institute of Cosmetology & Barbering is 48 students and the part-time enrollment is 0. This means that 100% of students enrolled at Formations Institute of Cosmetology & Barbering are enrolled full-time.

The enrolled student population at Formations Institute of Cosmetology & Barbering, both undergraduate and graduate, is 64.6% White, 18.8% Hispanic or Latino, 6.25% Two or More Races, 6.25% American Indian or Alaska Native, and 4.17% Black or African American.

Students enrolled at Formations Institute of Cosmetology & Barbering in full-time Undergraduate programs are most commonly White Female (54.2%), followed by Hispanic or Latino Female (16.7%) and White Male (10.4%).

Full-Time vs Part-Time Enrollment

100%
Full-Time Enrollment

The total enrollment at Formations Institute of Cosmetology & Barbering in 2022, both undergraduate and graduate, is 48 students. The full-time enrollment at Formations Institute of Cosmetology & Barbering is 48 and the part-time enrollment is 0.

This chart shows the full-time vs part-time enrollment status at Formations Institute of Cosmetology & Barbering (in red) compares to similar universities.

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Retention Rate over Time

49%
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 Formations Institute of Cosmetology & Barbering was 49%.

This chart shows the retention rate over time at Formations Institute of Cosmetology & Barbering (highlighted in red) compares to similar universities.

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Enrollment by Race & Ethnicity

Most Common Race or Ethnicity (2022)
  1. White
    31 enrolled students
  2. Hispanic or Latino
    9 enrolled students
  3. Two or More Races
    3 enrolled students

The enrolled student population at Formations Institute of Cosmetology & Barbering is 64.6% White, 18.8% Hispanic or Latino, 6.25% Two or More Races, 6.25% American Indian or Alaska Native, and 4.17% Black or African American. This includes both full-time and part-time students as well as graduate and undergraduates.

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Graduates

In 2022, 30 more women than men received degrees from Formations Institute of Cosmetology & Barbering. The most common race/ethnicity group of degree recipients at Formations Institute of Cosmetology & Barbering is white (28 degrees awarded). There were 7 times more white recipients than the next closest race/ethnicity group, hispanic or latino (4 degrees).

The most common 1 to 2 Year Postsecondary Certificate concentration at Formations Institute of Cosmetology & Barbering is General Cosmetology (15 degrees awarded), followed by Barbering (5 degrees) and Cosmetology, Barber, & Nail Instructor (1 degrees).

In 2022,  the most specialized majors across all degree types at Formations Institute of Cosmetology & Barbering, meaning they have significantly more degrees awarded in that concentration than the national average across all institutions, are Personal & Culinary Services (36 degrees awarded).

Common Jobs by Major

Chefs & head cooks
Most Common Job

The most common jobs for people who hold a degree in one of the 5 most specialized majors at Formations Institute of Cosmetology & Barbering 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 Formations Institute of Cosmetology & Barbering in 2022 are Personal & Culinary Services (36 degrees awarded) (as of 2022).

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Highest Paying Jobs by Major

Chief executives & legislators
Highest Paying Job

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

The most specialized majors at Formations Institute of Cosmetology & Barbering are Personal & Culinary Services (36 degrees awarded) (as of 2022).

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Common Industries by Major

Restaurants & Food Services
Most Common Industry

The most common industries for people who hold a degree in one of the 5 most specialized majors at Formations Institute of Cosmetology & Barbering 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 Formations Institute of Cosmetology & Barbering are Personal & Culinary Services (36 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 Formations Institute of Cosmetology & Barbering.
Most Common (2022)
  1. General Cosmetology
    15 degrees awarded
  2. Barbering
    5 degrees awarded
  3. Cosmetology, Barber, & Nail Instructor
    1 degrees awarded

In 2022, the most common 1 to 2 year postsecondary certificate concentration at Formations Institute of Cosmetology & Barbering was General Cosmetology with 15 degrees awarded.

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

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Sex Breakdown for Common Majors

3
Degrees Awarded to Men
in 2022
33
Degrees Awarded to Women
in 2022

In 2022, 3 degrees were awarded to men at Formations Institute of Cosmetology & Barbering, which is 0.0909 times less than the number of degrees awarded to females (33).

This chart displays the sex disparity between the top 5 majors at Formations Institute of Cosmetology & Barbering by degrees awarded.

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Most Common Male Majors

In 2022, 2 degrees were awarded to men at Formations Institute of Cosmetology & Barbering in Barbering, which is 0.667 times less than the 3 female recipients with that same degree.

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Most Common Female Majors

In 2022, 15 degrees were awarded to women at Formations Institute of Cosmetology & Barbering in General Cosmetology. There were no male recipients with the same degree.

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Time to Complete

0%
100% Completion Time
74%
150% Completion Time

In 2022, 0% of students graduating from Formations Institute of Cosmetology & Barbering completed their program within 100% "normal time" (i.e. 4 years for a 4-year degree). Comparatively, 74% completed their degrees within 150% of the normal time, and 74% 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
    28 degrees awarded
  2. Hispanic or Latino
    4 degrees awarded
  3. American Indian or Alaska Native
    2 degrees awarded

The most common race/ethnicity at Formations Institute of Cosmetology & Barbering is white (28 degrees awarded). There were 7 times more white recipients than the next closest race/ethnicity group, hispanic or latino (4 degrees).

2.78% of degree recipients (1 students) did not report their race.

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Race & Ethnicity by Sex

Most Common Sex Demographic (2022)
  1. White Female
    27 degrees awarded
  2. Hispanic or Latino Female
    3 degrees awarded
  3. Hispanic or Latino Male
    1 degrees awarded

The most common race/ethnicity and sex grouping at Formations Institute of Cosmetology & Barbering is white female (27 degrees awarded). There were 9 times more white female recipients than the next closest race/ethnicity group, hispanic or latino female (3 degrees).

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Operations

Salary Expenditure

$158k
2022 Salaries
17.1%
growth from 2021

In 2022, Formations Institute of Cosmetology & Barbering paid a median of $158k in salaries, a 17.1% growth from the previous year. This is compared to a 114% growth between 2020 and 2021, and a 41.8% growth between 2019 and 2020.

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

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