Ned Halimi President | Linkedin
Ned Halimi President | Linkedin
Data shows that students paid $12,015 on average to attend higher education courses at the time, less than the $150 charged for the previous school year.
Among the three institutions in the county, the Cosmetology & Spa Academy stood out with the highest tuition fees, reaching an average of $24,000. First Institute of Travel, Inc. followed with an average of $17,025 per year. McHenry County College students were offered the lowest annual tuition fees at $11,375.
At the time, a total of $2.5 million in grants or scholarships were awarded to full-time undergraduates who started at the McHenry County universities in the 2022-23 school year. Additionally, federal student loans reached $2.2 million.
Currently there are three higher education institutions in McHenry County, including McHenry County College, Cosmetology & Spa Academy, and First Institute of Travel, Inc..
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 |
|---|---|---|---|---|---|---|
| Cosmetology & Spa Academy | 159 | $876,401 | $5,512 | 199 | $1,469,637 | $7,385 |
| First Institute of Travel, Inc. | 104 | $490,172 | $4,713 | 112 | $620,986 | $5,545 |
| McHenry County College | 318 | $1,116,502 | $3,511 | 25 | $127,353 | $5,094 |
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