Formations Institute

www.formationsinstitute.edu

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2023 Average Net Price

$16,863

After Financial Aid

2020 Default Rate

on Student Loans

2023 Enrolled Students

100% Full-Time

About

Formations Institute is a higher education institution located in Garfield County, OK. In 2023, the most popular 1 to 2 Year Postsecondary Certificate concentrations at Formations Institute were General Cosmetology (12 degrees awarded), Barbering (3 degrees), and Cosmetology, Barber, & Nail Instructor (1 degrees).

In 2023, 19 degrees were awarded across all undergraduate and graduate programs at Formations Institute. 94.7% of these degrees were awarded to women, and 5.26% awarded men. The most common race/ethnicity group of degree recipients was white (13 degrees), 3.25 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 was 0%, corresponding to 0 out of the 65 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 $16,863.

In 2023, 67% of undergraduate students attending Formations Institute received financial aid through grants. Comparatively, 68% of undergraduate students received financial aid through loans.

Average Net Price

$16,863

2023 Value

4.01%

1 Year Growth

In 2023 Formations Institute had an average net price — the price paid after factoring in grants and loans — of $16,863. Between 2022 and 2023, the average net price of Formations Institute grew by 4.01%.

This chart compares the average net price of Formations Institute (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

67%

Undergraduates Receiving Financial Aid through Grants

68%

Undergraduates Receiving Financial Aid through Loans

67% of undergraduate students at Formations Institute received financial aid through grants or loans in 2023. This represents a decline of 22.1% with respect to 2022, when 86% of undergraduate students received financial aid.

This chart compares the average award discount at Formations Institute (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 Formations Institute was 0%, which represents 0 out of the 65 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

Formations Institute had a total enrollment of 48 students in 2023. The full-time enrollment at Formations Institute is 48 students and the part-time enrollment is 0. This means that 100% of students enrolled at Formations Institute are enrolled full-time.

The enrolled student population at Formations Institute, both undergraduate and graduate, is 45.8% White, 29.2% Hispanic or Latino, 14.6% Black or African American, and 10.4% Two or More Races.

Students enrolled at Formations Institute in full-time Undergraduate programs are most commonly White Female (52%), followed by Hispanic or Latino Female (25.3%) and Black or African American Female (9.33%).

Full-Time vs Part-Time Enrollment

100%

Full-Time Enrollment

The total enrollment at Formations Institute in 2023, both undergraduate and graduate, is 48 students. The full-time enrollment at Formations Institute is 48 and the part-time enrollment is 0.

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

Retention Rate over Time

16%

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 Formations Institute was 16%.

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

Enrollment by Race & Ethnicity

Most Common Race or Ethnicity (2023)

White
22 enrolled students
Hispanic or Latino
14 enrolled students
Black or African American
7 enrolled students

The enrolled student population at Formations Institute is 45.8% White, 29.2% Hispanic or Latino, 14.6% Black or African American, and 10.4% Two or More Races. This includes both full-time and part-time students as well as graduate and undergraduates.

Graduates

In 2023, 17 more women than men received degrees from Formations Institute. The most common race/ethnicity group of degree recipients at Formations Institute is white (13 degrees awarded). There were 3.25 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 is General Cosmetology (12 degrees awarded), followed by Barbering (3 degrees) and Cosmetology, Barber, & Nail Instructor (1 degrees).

In 2023, the most specialized majors across all degree types at Formations Institute, meaning they have significantly more degrees awarded in that concentration than the national average across all institutions, are Personal & Culinary Services (19 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 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 Formations Institute in 2023 are Personal & Culinary Services (19 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 Formations Institute are Chief executives & legislators, Lawyers, & judges, magistrates, & other judicial workers, Lodging managers, Financial managers, and Management analysts

The most specialized majors at Formations Institute are Personal & Culinary Services (19 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 Formations Institute 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 are Personal & Culinary Services (19 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 Formations Institute.

Most Common (2023)

General Cosmetology
12 degrees awarded
Barbering
3 degrees awarded
Cosmetology, Barber, & Nail Instructor
1 degrees awarded

In 2023, the most common 1 to 2 year postsecondary certificate concentration at Formations Institute was General Cosmetology with 12 degrees awarded.

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

Sex Breakdown for Common Majors

Degrees Awarded to Men

in 2023

Degrees Awarded to Women

in 2023

In 2023, 1 degrees were awarded to men at Formations Institute, which is 0.0556 times less than the number of degrees awarded to females (18).

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

Most Common Male Majors

In 2023, 1 degrees were awarded to men at Formations Institute in General Cosmetology, which is 0.0909 times less than the 11 female recipients with that same degree.

Most Common Female Majors

In 2023, 11 degrees were awarded to men at Formations Institute in General Cosmetology, which is 11 times more than the 1 male recipients with that same degree.

Time to Complete

N/A%

100% Completion Time

54%

150% Completion Time

In 2023, N/A% of students graduating from Formations Institute completed their program within 100% "normal time" (i.e. 4 years for a 4-year degree). Comparatively, 54% completed their degrees within 150% of the normal time, and 54% 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)

White
13 degrees awarded
Hispanic or Latino
4 degrees awarded
Two or More Races
1 degrees awarded

The most common race/ethnicity at Formations Institute is white (13 degrees awarded). There were 3.25 times more white recipients than the next closest race/ethnicity group, hispanic or latino (4 degrees).

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

Race & Ethnicity by Sex

Most Common Sex Demographic (2023)

White Female
13 degrees awarded
Hispanic or Latino Female
4 degrees awarded
Two or More Races Male
1 degrees awarded

The most common race/ethnicity and sex grouping at Formations Institute is white female (13 degrees awarded). There were 3.25 times more white female recipients than the next closest race/ethnicity group, hispanic or latino female (4 degrees).

Operations

Salary Expenditure

$128k

2023 Salaries

23.2%

decline from 2022

In 2023, Formations Institute paid a median of $128k in salaries, a 23.2% decline from the previous year. This is compared to a 13.8% growth between 2021 and 2022, and a 9.96% decline between 2020 and 2021.

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

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