A new tool with the Free Application for Federal Student Aid (FAFSA)shows the average incomes for college graduates, and Indiana cosmetology schools rank at the bottom.
The Department of Education released the earnings indicator this month. Students will get a “lower earnings” disclosure if their selected institution produces graduates that earn on average less than those with just a high school diploma. The department said the data will show choices in college education can translate into real-world earnings.
In Indiana, the average high school graduate is making $36,806 this year, according to federal data. Seven post-graduate institutions reported their graduates made less than that four years after graduation.
The schools are:
- Tricoci University of Beauty Culture in Highland
- Don Roberts School of Hair Design
- J Michael Harrold Beauty Academy
- PJ's College of Cosmetology in Clarksville
- International Business College in Indianapolis
- Taylor Institute of Cosmetology II
- Tricoci University of Beauty Culture in Lafayette
Taylor Institute of Cosmetology graduates had the lowest earnings, making about $19,000 after adjusting for inflation.
Of the seven schools in Indiana that reported lower earnings, six are cosmetology and beauty schools. International Business College is now the Vet Tech Institute of Indiana, according to its website.
Rose-Hulman Institute of Technology topped Indiana institutions, with graduates making an average of $105,649 four years after graduation. University of Notre Dame graduates came second, making more than $99,000.
“The Department emphasizes that the earnings indicator is intended to inform, not limit, student choices,” it said in a release. “Students and families should have the full picture before making postsecondary education choices, and earnings outcomes are one of many factors students and families should consider alongside cost, mission, location, and personal interests.”
The “lower earnings” disclosure will be sent to students after they complete the FAFSA. It only applies to first-year undergraduate students, the department said.
Indiana high school seniors are required to complete the FAFSA by April 15, unless they opt out.
