Welcome to the Faust Institute of Cosmetology Gainful Employment Program Disclosure Page. This information is provided to you so that you can make an informed decision on your education. We take great pride in the education we offer and our schools.

The Faust Institute of Cosmetology’s 6-digit OPEID: 022625

PROGRAM NAME & LENGTH:

The Department of Education has given cosmetology the following 6-digit CIP code: 12.0401

Search CIP: 12.0401 Cosmetology/ Cosmetologist, General

CIP Program description:

A program that generally prepares individuals to cut, trim, and style: scalp, facial, and body hair; apply cosmetic preparations; perform manicures and pedicures; massage the head and extremities; and prepare for practice as licensed cosmetologists in specialized or full-service salons. Includes instruction in hair cutting and styling, manicuring, pedicuring, facial treatments, shampooing, chemical applications, esthetics, shop management, sanitation and safety, customer service, and applicable professional and labor laws and regulations

The level for this program is categorized by the Department of Education as a Certificate Program of Less Than Two Years. The program is 14 months/60 weeks. The state of Iowa requires 2,100 hours of instructional time.

RELATED OCCUPATIONS:

Cosmetology can open many doors for graduates! Many students begin their education with aspirations of being a future professional in their hometown. Once they arrive at school they often find that many options are available for them. Instructor, representative for a supply company or maybe even platform artist. The options are endless in this high demand profession.

Click here to select SOC codes to occupations for which this program prepares students:

http://www.onetcodeconnector.org/ccreport/39-5012.00

COST:

Our complete program cost is $15,605. This includes pre-registration, kit and tuition for the entire training program when completed in normal time. Normal time is 14 months.

The total estimated costs for books and supplies for the entire program: $2,100

Valuable information for prospective students can be found on our website. The URL for our program can be found at: www.faustinstitute.com

Net Price Calculator

DEBT AT PROGRAM COMPLETION:

The number of students completing the program between July 1, 2013 and June 30, 2014: 31

Of the completers reported above, the number completing with any student loan debt: 21 students or 96%. For all students (both borrowers and non-borrowers) completing the program between July 1, 2015 and June 30, 2016, the median cumulative debt for each of the following:

Federal student loan debt: $12,000

Private loan debt: $0.00

Institutional financing plan debt: $0.00

PROGRAM COMPLETION IN NORMAL TIME:

The Faust Institute of Cosmetology allows for slightly more time scheduled than is required for the student to complete the program in the manner outlined in the catalog (14 months/60 weeks). This incidental time is there to protect the student. Students can take pre-approved time off for doctors’ visits, for example, without being penalized or entering into an over contract

We take pride in having students with excellent attendance and promoting an atmosphere in which students enjoy coming to school to learn. However, students alone are responsible for their attendance.

The normal time in months to complete the program as published in the catalog: 14 months/60 weeks

Of the 16 students completing the program between July 1, 2015 and June 30, 2016, the number who completed the program within the normal time reported above: 50%

JOB PLACEMENT:

The job placement rate for program completers at the Faust Institute of Cosmetology: 100%

Who is included? All students who were scheduled to graduate in 2015 are included in this calculation.

What type of job? This job placement rate looks only at jobs that were in the field of study. Positions that recent completers were hired for include: Cosmetologist, hair and make-up artist for photo-shoots, Salon managers, Salon Owners, Stylist

When were they employed? This rate is based on program completers who were employed within 180 days of completion and were employed for at least 13 weeks.

How were graduates tracked? Graduates are tracked through various methods: Our primary tracking method is through graduate and employer questionnaire. Either through the mail or more often directly with student/salon manager-owner. Other methods used are word of mouth, newspaper announcements of employment and contact with student’s friends/relatives. Our survey of completers has approximately a 38% response rate. Validation of the completers in the July 1, 2014 through June 30, 2015 time period was 100%

What agencies (state or accrediting), if any, is this rate reported to? This rate in reported to the National Accrediting Commission of Career Arts and Sciences. The NACCAS website can be found at:http://naccas.org/default.aspx

The rates reported to NACCAS are slightly different from rates on completers and job placement listed here because of different reporting dates. Data reported to NACCAS for the 2015 reporting year is as follows:

Completion Rate: 64.51%

Employment Rate: 100%

Licensure Rate: 100%

Gainful Employment Disclosure Definitions/Glossary

OPEID

Identification number used by the U.S. Department of Education’s Office of Postsecondary Education (OPE) to identify schools that have Program Participation Agreements (PPA) so that its students are eligible to participate in Federal Student Financial Assistance programs under Title IV regulations. This is a 6-digit number followed by a 2-digit suffix used to identify branches, additional locations, and other entities that are part of the eligible institution.

CIP

The Classification of Instructional Programs (CIP) is a taxonomic coding scheme for postsecondary instructional programs/fields of study that facilitates the organization, collection, and reporting of program data. The CIP was developed by the U.S. Department of Education’s National Center for Education Statistics (NCES) and is the accepted federal government statistical standard on instructional program classifications and is used in a variety of education information surveys and databases.

Example of a 6 digit CIP code: 11.0901

The 11.0101 CIP code corresponds to programs in Computer Systems Networking and Telecommunications.

Contact Hour

A unit of measure that represents an hour of scheduled instruction given to students.

Tuition and Required Fees for Entire Program

The amount of tuition and required fees charged to a student for the entire program. Required fees are the fixed sum charged to students for items not covered by tuition and required of such a large proportion of all students that the student who does not pay the charge is an exception. Institutions that do not charge by program, for example a 2-year program whose tuition rates change from one year to the next, would be required to calculate the total tuition and fees for the entire length of the program.

Normal Time

The amount of time necessary for a student to complete all requirements for a degree or certificate according to the institution’s catalog. For clock hour programs, it is the time, measured in days or weeks, provided in the institution’s catalog or other promotional material stating how long it takes to complete the program. For the Faust Institute of Cosmetology this is 60 weeks/14 months.

Books and Supplies for Entire Program

The average cost of books and supplies for a typical student for the entire program. If this information is not available by program, use your institutional estimate.

Program Completion:

When a student completes all program requirements and receives a degree, diploma, certificate, or other formal award. In order to be considered a completion, the degree/award must actually be conferred.

Federal Student Loans:

Includes all Title IV student loans, such as Stafford (subsidized and unsubsidized) loans. This does not include PLUS and other loans made directly to parents.

Private Loans:

A loan provided by a private educational lender that is not a title IV loan and that is issued expressly for postsecondary education expenses to a borrower, regardless of whether the loan is provided through the educational institution that the student attends or directly to the borrower from the private educational lender.

Institutional Financing Plans:

An institutional financing plan is the extension of credit to a student for educational costs that will be paid by the student (or on the student¡¦s behalf) after the program of study has ended. The amount and frequency of the installment payments and whether they include a fee or interest are specified in the written plan.