Mark Canada, Ph.D. Chancellor | Indiana University-Kokomo
Mark Canada, Ph.D. Chancellor | Indiana University-Kokomo
Data shows that students paid $8,818 on average to attend higher education courses at the time, $120 more than the previous school year.
Among the three institutions in the county, Ross Medical Education Center-Kokomo stood out with the highest tuition fees, reaching an average of $16,297. Summit Salon Academy-Kokomo followed with an average of $15,750 per year. Indiana University-Kokomo students were offered the lowest annual tuition fees at $8,342.
At the time, a total of $3.1 million in grants or scholarships were awarded to full-time undergraduates who started at the Howard County universities in the 2022-23 school year. Additionally, federal student loans reached $1.5 million.
Currently there are three higher education institutions in Howard County, including Indiana University-Kokomo, Summit Salon Academy-Kokomo, and Ross Medical Education Center-Kokomo.
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 |
|---|---|---|---|---|---|---|
| Summit Salon Academy-Kokomo | 37 | $177,785 | $4,805 | 47 | $316,032 | $6,724 |
| Indiana University-Kokomo | 367 | $2,742,620 | $7,473 | 156 | $806,377 | $5,169 |
| Ross Medical Education Center-Kokomo | 35 | $188,722 | $5,392 | 39 | $407,537 | $10,450 |
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