Innovate Salon Academy

www.innovatesalonacademy.com

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2022 Average Net Price

$11,378

After Financial Aid

2019 Default Rate

2.38%

on Student Loans

2022 Enrolled Students

207

70% Full-Time

About

Innovate Salon Academy is a higher education institution located in Middlesex County, NJ. In 2022, the most popular 1 to 2 Year Postsecondary Certificate concentrations at Innovate Salon Academy were General Cosmetology (73 degrees awarded) and Barbering (25 degrees).

In 2022, 166 degrees were awarded across all undergraduate and graduate programs at Innovate Salon Academy. 83.1% of these degrees were awarded to women, and 16.9% awarded men. The most common race/ethnicity group of degree recipients was hispanic or latino (59 degrees), 1.31 times more than then the next closest race/ethnicity group, white (45 degrees).

In 2019 the default rate for borrower's at Innovate Salon Academy was 2.38%, corresponding to 3 out of the 126 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 $11,378.

In 2022, 46% of undergraduate students attending Innovate Salon Academy received financial aid through grants. Comparatively, 48% of undergraduate students received financial aid through loans.

Average Net Price

$11,378

2022 Value

8.74%

1 Year Growth

In 2022 Innovate Salon Academy had an average net price — the price paid after factoring in grants and loans — of $11,378. Between 2021 and 2022, the average net price of Innovate Salon Academy grew by 8.74%.

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

46%

Undergraduates Receiving Financial Aid through Grants

48%

Undergraduates Receiving Financial Aid through Loans

46% of undergraduate students at Innovate Salon Academy received financial aid through grants or loans in 2022. This represents a decline of 2.13% with respect to 2021, when 47% of undergraduate students received financial aid.

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

2.38%

2019 Default Rate

Number of Defaults

In 2019 the default rate for borrower's at Innovate Salon Academy was 2.38%, which represents 3 out of the 126 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 had a total enrollment of 207 students in 2022. The full-time enrollment at Innovate Salon Academy is 145 students and the part-time enrollment is 62. This means that 70% of students enrolled at Innovate Salon Academy are enrolled full-time.

The enrolled student population at Innovate Salon Academy, both undergraduate and graduate, is 44.4% Hispanic or Latino, 25.1% White, 22.2% Black or African American, 4.35% Two or More Races, and 3.38% Asian.

Students enrolled at Innovate Salon Academy in full-time Undergraduate programs are most commonly Hispanic or Latino Female (37.2%), followed by White Female (24.1%) and Black or African American Female (17.9%).

Full-Time vs Part-Time Enrollment

70%

Full-Time Enrollment

The total enrollment at Innovate Salon Academy in 2022, both undergraduate and graduate, is 207 students. The full-time enrollment at Innovate Salon Academy is 145 and the part-time enrollment is 62.

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

Retention Rate over Time

95%

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 Innovate Salon Academy was 95%.

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

Enrollment by Race & Ethnicity

Most Common Race or Ethnicity (2022)

Hispanic or Latino
92 enrolled students
White
52 enrolled students
Black or African American
46 enrolled students

The enrolled student population at Innovate Salon Academy is 44.4% Hispanic or Latino, 25.1% White, 22.2% Black or African American, 4.35% Two or More Races, and 3.38% Asian. This includes both full-time and part-time students as well as graduate and undergraduates.

Graduates

In 2022, 110 more women than men received degrees from Innovate Salon Academy. The most common race/ethnicity group of degree recipients at Innovate Salon Academy is hispanic or latino (59 degrees awarded). There were 1.31 times more hispanic or latino recipients than the next closest race/ethnicity group, white (45 degrees).

The most common 1 to 2 Year Postsecondary Certificate concentration at Innovate Salon Academy is General Cosmetology (73 degrees awarded), followed by Barbering (25 degrees).

In 2022, the most specialized majors across all degree types at Innovate Salon Academy, meaning they have significantly more degrees awarded in that concentration than the national average across all institutions, are Personal & Culinary Services (166 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 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 Innovate Salon Academy in 2022 are Personal & Culinary Services (166 degrees awarded) (as of 2022).

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 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 are Personal & Culinary Services (166 degrees awarded) (as of 2022).

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 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 are Personal & Culinary Services (166 degrees awarded) (as of 2022).

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.

Most Common (2022)

General Cosmetology
73 degrees awarded
Barbering
25 degrees awarded

In 2022, the most common 1 to 2 year postsecondary certificate concentration at Innovate Salon Academy was General Cosmetology with 73 degrees awarded.

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

Sex Breakdown for Common Majors

Degrees Awarded to Men

in 2022

138

Degrees Awarded to Women

in 2022

In 2022, 28 degrees were awarded to men at Innovate Salon Academy, which is 0.203 times less than the number of degrees awarded to females (138).

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

Most Common Male Majors

In 2022, 24 degrees were awarded to men at Innovate Salon Academy in Barbering, which is 24 times more than the 1 female recipients with that same degree.

Most Common Female Majors

In 2022, 70 degrees were awarded to men at Innovate Salon Academy in General Cosmetology, which is 23.3 times more than the 3 male recipients with that same degree.

Time to Complete

57%

100% Completion Time

95%

150% Completion Time

In 2022, 57% of students graduating from Innovate Salon Academy completed their program within 100% "normal time" (i.e. 4 years for a 4-year degree). Comparatively, 95% completed their degrees within 150% of the normal time, and 95% 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 (2022)

Hispanic or Latino
59 degrees awarded
White
45 degrees awarded
Black or African American
38 degrees awarded

The most common race/ethnicity at Innovate Salon Academy is hispanic or latino (59 degrees awarded). There were 1.31 times more hispanic or latino recipients than the next closest race/ethnicity group, white (45 degrees).

10.2% of degree recipients (17 students) did not report their race.

Race & Ethnicity by Sex

Most Common Sex Demographic (2022)

Hispanic or Latino Female
48 degrees awarded
White Female
39 degrees awarded
Black or African American Female
31 degrees awarded

The most common race/ethnicity and sex grouping at Innovate Salon Academy is hispanic or latino female (48 degrees awarded). There were 1.23 times more hispanic or latino female recipients than the next closest race/ethnicity group, white female (39 degrees).

Operations

Salary Expenditure

$1.24M

2022 Salaries

47.1%

growth from 2021

In 2022, Innovate Salon Academy paid a median of $1.24M in salaries, a 47.1% growth from the previous year. This is compared to a 30.3% decline between 2020 and 2021, and a 9.75% growth between 2019 and 2020.

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

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