Innovate Salon Academy (492731)

innovatesalonacademy.com

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2023 Average Net Price

$30,319

After Financial Aid

2020 Default Rate

on Student Loans

2023 Enrolled Students

153

81.7% Full-Time

About

Innovate Salon Academy (492731) is a higher education institution located in Mercer County, NJ. In 2023, the most popular Certificate of at least 1 but less than 2 academic years concentrations at Innovate Salon Academy (492731) were Aesthetician & Skin Care Specialist (58 degrees awarded) and Cosmetology, Barber, & Nail Instructor (2 degrees).

In 2023, 133 degrees were awarded across all undergraduate and graduate programs at Innovate Salon Academy (492731). 81.2% of these degrees were awarded to women, and 18.8% awarded men. The most common race/ethnicity group of degree recipients was black or african american (70 degrees), 2.26 times more than then the next closest race/ethnicity group, white (31 degrees).

In 2020 the default rate for borrower's at Innovate Salon Academy (492731) was 0%, corresponding to 0 out of the 167 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 $30,319.

In 2023, 52% of undergraduate students attending Innovate Salon Academy (492731) received financial aid through grants. Comparatively, 58% of undergraduate students received financial aid through loans.

Average Net Price

$30,319

2023 Value

29.3%

1 Year Growth

In 2023 Innovate Salon Academy (492731) had an average net price — the price paid after factoring in grants and loans — of $30,319. Between 2022 and 2023, the average net price of Innovate Salon Academy (492731) grew by 29.3%.

This chart compares the average net price of Innovate Salon Academy (492731) (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.

Financial Aid by Income Level

52%

Undergraduates Receiving Financial Aid through Grants

58%

Undergraduates Receiving Financial Aid through Loans

52% of undergraduate students at Innovate Salon Academy (492731) received financial aid through grants or loans in 2023. This represents a decline of 7.14% with respect to 2022, when 56% of undergraduate students received financial aid.

This chart compares the average award discount at Innovate Salon Academy (492731) (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.

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.

2020 Default Rate

Number of Defaults

In 2020 the default rate for borrower's at Innovate Salon Academy (492731) was 0%, which represents 0 out of the 167 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.

Enrollment

Innovate Salon Academy (492731) had a total enrollment of 153 students in 2023. The full-time enrollment at Innovate Salon Academy (492731) is 125 students and the part-time enrollment is 28. This means that 81.7% of students enrolled at Innovate Salon Academy (492731) are enrolled full-time.

The enrolled student population at Innovate Salon Academy (492731), both undergraduate and graduate, is 57.5% Black or African American, 21.6% Hispanic or Latino, 19% White, and 0.654% Two or More Races.

Students enrolled at Innovate Salon Academy (492731) in full-time Undergraduate programs are most commonly Black or African American Female (48%), followed by Hispanic or Latino Female (13.8%) and White Female (13.4%).

Full-Time vs Part-Time Enrollment

81.7%

Full-Time Enrollment

The total enrollment at Innovate Salon Academy (492731) in 2023, both undergraduate and graduate, is 153 students. The full-time enrollment at Innovate Salon Academy (492731) is 125 and the part-time enrollment is 28.

This chart shows the full-time vs part-time enrollment status at Innovate Salon Academy (492731) (in red) compares to similar universities.

Retention Rate over Time

93%

2023 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 Innovate Salon Academy (492731) was 93%.

This chart shows the retention rate over time at Innovate Salon Academy (492731) (highlighted in red) compares to similar universities.

Enrollment by Race & Ethnicity

Most Common Race or Ethnicity (2023)

Black or African American
88 enrolled students
Hispanic or Latino
33 enrolled students
White
29 enrolled students

The enrolled student population at Innovate Salon Academy (492731) is 57.5% Black or African American, 21.6% Hispanic or Latino, 19% White, and 0.654% Two or More Races. This includes both full-time and part-time students as well as graduate and undergraduates.

Graduates

In 2023, 83 more women than men received degrees from Innovate Salon Academy (492731). The most common race/ethnicity group of degree recipients at Innovate Salon Academy (492731) is black or african american (70 degrees awarded). There were 2.26 times more black or african american recipients than the next closest race/ethnicity group, white (31 degrees).

The most common Certificate of at least 1 but less than 2 academic years concentration at Innovate Salon Academy (492731) is Aesthetician & Skin Care Specialist (58 degrees awarded), followed by Cosmetology, Barber, & Nail Instructor (2 degrees).

In 2023, the most specialized majors across all degree types at Innovate Salon Academy (492731), meaning they have significantly more degrees awarded in that concentration than the national average across all institutions, are Personal & Culinary Services (133 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 Innovate Salon Academy (492731) are Chefs & head cooks (7,906 people), Cooks (2,655 people), Morticians, undertakers, & funeral directors (2,587 people), Food service managers (2,017 people), and Customer service representatives (1,079 people).

The most specialized majors at Innovate Salon Academy (492731) in 2023 are Personal & Culinary Services (133 degrees awarded) (as of 2023).

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 Innovate Salon Academy (492731) are Chief executives & legislators, Lawyers, & judges, magistrates, & other judicial workers, Lodging managers, Financial managers, and Management analysts

The most specialized majors at Innovate Salon Academy (492731) are Personal & Culinary Services (133 degrees awarded) (as of 2023).

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 Innovate Salon Academy (492731) 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 Innovate Salon Academy (492731) are Personal & Culinary Services (133 degrees awarded) (as of 2023).

Majors Awarded

IPEDS uses the Classification of Instructional Programs (CIP) standard, so the categories may not match the exact concentrations offered by Innovate Salon Academy (492731).

Most Common (2023)

General Cosmetology
46 degrees awarded
Barbering
27 degrees awarded

In 2023, the most common 1 to 2 year postsecondary certificate concentration at Innovate Salon Academy (492731) was General Cosmetology with 46 degrees awarded.

This visualization illustrates the percentage of degree-majors recipients from 1 to 2 year postsecondary certificate programs at Innovate Salon Academy (492731) according to their major.

Sex Breakdown for Common Majors

Degrees Awarded to Men

in 2023

108

Degrees Awarded to Women

in 2023

In 2023, 25 degrees were awarded to men at Innovate Salon Academy (492731), which is 0.231 times less than the number of degrees awarded to females (108).

This chart displays the sex disparity between the top 5 majors at Innovate Salon Academy (492731) by degrees awarded.

Most Common Male Majors

In 2023, 21 degrees were awarded to men at Innovate Salon Academy (492731) in Barbering, which is 3.5 times more than the 6 female recipients with that same degree.

Most Common Female Majors

In 2023, 56 degrees were awarded to men at Innovate Salon Academy (492731) in Aesthetician & Skin Care Specialist, which is 28 times more than the 2 male recipients with that same degree.

Time to Complete

13%

100% Completion Time

74%

150% Completion Time

In 2023, 13% of students graduating from Innovate Salon Academy (492731) 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.

Race & Ethnicity by Share

Most Common Student Race or Ethnicity (2023)

Black or African American
70 degrees awarded
White
31 degrees awarded
Hispanic or Latino
24 degrees awarded

The most common race/ethnicity at Innovate Salon Academy (492731) is black or african american (70 degrees awarded). There were 2.26 times more black or african american recipients than the next closest race/ethnicity group, white (31 degrees).

1.5% of degree recipients (2 students) did not report their race.

Race & Ethnicity by Sex

Most Common Sex Demographic (2023)

Black or African American Female
56 degrees awarded
White Female
27 degrees awarded
Hispanic or Latino Female
19 degrees awarded

The most common race/ethnicity and sex grouping at Innovate Salon Academy (492731) is black or african american female (56 degrees awarded). There were 2.07 times more black or african american female recipients than the next closest race/ethnicity group, white female (27 degrees).

Operations

Salary Expenditure

$1.05M

2023 Salaries

86.7%

growth from 2022

In 2023, Innovate Salon Academy (492731) paid a median of $1.05M in salaries, a 86.7% growth from the previous year. This is compared to a 0.59% decline between 2021 and 2022, and a 42.2% growth between 2020 and 2021.

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