Cosmetology at Michigan College of Beauty-Monroe

At $14,062 in first-year earnings, Michigan College of Beauty-Monroe graduates earn about $1,100 less than the typical Michigan cosmetology program graduate and roughly $3,000 below the national median. While the school ranks in the 40th percentile among Michigan cosmetology programs—essentially middle-of-the-pack for the state—the earnings still fall short when you consider the $8,250 in median debt. The best Michigan programs, like Northern Michigan University and several Paul Mitchell locations, produce graduates earning $18,000-$21,000.

The debt load here is actually higher than average for cosmetology programs, both statewide and nationally, which creates a challenging first year financially. That 0.59 debt-to-earnings ratio means graduates are carrying debt equal to about seven months of their annual income. The modest 13% earnings growth to $15,893 by year four helps, but doesn't fundamentally change the picture. Even four years out, graduates earn less than the typical Michigan cosmetology program produces in year one.

For a parent, this means your child would likely struggle financially in the early years after graduation. If cosmetology is the goal, exploring programs with stronger earnings outcomes—particularly those state university or better-performing private schools in Michigan—could mean the difference between starting at $14,000 versus $18,000 or more annually, while likely carrying less debt.