The Refrigeration School Inc experienced an 11.9% tuition increase for the 2022-23 school year, based on recently released information, according to the latest disclosure from the National Center for Education Statistics.
Students paid $22,300 to attend the two-year private for-profit institution this year, which is $2,376 higher than the $19,924 charged during the 2021-22 academic year.
Approximately 97% of the undergraduate student body at the school are residents of Arizona, while around 3% come from other states.
Data indicates that 93% of full-time undergraduates who enrolled at Refrigeration School Inc in 2022-23 received some form of student financial aid. In total, 968 students were awarded grants or scholarships amounting to $7.1 million, and 935 students obtained student loans exceeding $8.2 million.
Across all undergraduate students, 1,456 individuals received grants or scholarships totaling $10 million. Additionally, 1,347 students borrowed $9.2 million in federal student loans.
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.
The following data includes only full-time students who began an undergraduate program at the Refrigeration School Inc in the 2022-23 school year.
| Type of Aid | Number of students awarded aid | Percent awarded aid | Total amount of aid awarded | Average amount of aid per student |
|---|---|---|---|---|
| Federal grants | 859 | 75% | $5 million | $5,865 |
| State / local grant or scholarship | 77 | 7% | $766,402 | $9,953 |
| Institutional grants or scholarships | 593 | 52% | $1.3 million | $2,213 |
| Grant or scholarship aid total | 968 | 84% | $7.1 million | $7,352 |
| Federal student loans | 929 | 81% | $7.1 million | $7,591 |
| Other student loans | 85 | 7% | $1.1 million | $13,076 |
| Student loan aid | 935 | 81% | $8.2 million | $8,731 |
| Total student aid | 1,063 | 93% | $15.3 million | $14,374 |
Information in this story was obtained from the National Center for Education Statistics. The source data can be found here.
