Shannon Long, Chief Executive Officer | Beyond Measure Barbering Institute
Shannon Long, Chief Executive Officer | Beyond Measure Barbering Institute
Data shows that students paid $42,000 on average to attend higher education courses at the time, $3,483 more than the previous school year.
Among the two institutions in the county, Elon University stood out with the highest tuition fees, reaching an average of $42,241. The Beyond Measure Barbering Institute followed with an average of $16,950 per year.
At the time, a total of $20.6 million in grants or scholarships were awarded to full-time undergraduates who started at the Alamance County universities in the 2022-23 school year. Additionally, federal student loans reached $6 million.
Undergraduate education costs have seen a significant increase over the past few decades. Data shows a 169% rise in the average total cost, including tuition, fees, room, and board, between 1980 and 2020.
According to a 2023 College Board report, in-state students at public universities paid an average of $11,260, while out-of-state students paid $29,150 in the 2023-24 academic year.
Meanwhile, student loan debt has steadily increased over the last 30 years, reaching $1.75 trillion in 2024, averaging a total of $28,950 per borrower. Federal loans make up 92% of the debt, with over half of students at both public and private four-year colleges graduating with student loans.
Available data sometimes exceeds 100% due to rounding and administrative calculations.
Institution | Number of Students Receiving Grants | Total Amount of Grants Received | Average Amount of Grant Per Student | Number of Students Receiving Loans | Total Amount of Loans Received | Average Amount of Loans Per Student |
---|---|---|---|---|---|---|
Beyond Measure Barbering Institute | 7 | $31,675 | $4,525 | 7 | $39,568 | $5,653 |
Elon University | 1,174 | $20,571,982 | $17,523 | 504 | $5,919,823 | $11,746 |