McHenry Times

College tuition fees fell 1.2% in McHenry County in the 2022-23 school year, according to the latest disclosure from the National Center for Education Statistics.

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