The Ultimate Medical Academy reported a 5.6% tuition increase for the 2022-23 school year, as revealed in its most recent disclosure, according to the latest disclosure from the National Center for Education Statistics.
Students enrolled in the two-year private nonprofit institution paid $29,925 this year, which is $1,575 higher than the $28,350 charged during the 2021-22 academic year.
Approximately 10% of the undergraduate students at the academy are Florida residents, while the remaining 90% come from other states.
Data indicates that 82% of full-time undergraduates who began their studies at Ultimate Medical Academy in 2022-23 received some form of student financial aid. A total of 8,188 students were awarded grants or scholarships amounting to $51.6 million, and 7,761 students obtained student loans exceeding $22.4 million.
Across all undergraduate students, 24,100 individuals received grants or scholarships totaling $148.4 million. Additionally, 23,003 students borrowed $67 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 the Ultimate Medical Academy 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 | 8,022 | 77% | $50 million | $6,228 |
| State / local grant or scholarship | 12 | 0% | $13,175 | $1,098 |
| Institutional grants or scholarships | 1,047 | 10% | $1.6 million | $1,548 |
| Grant or scholarship aid total | 8,188 | 79% | $51.6 million | $6,301 |
| Federal student loans | 7,761 | 75% | $22.4 million | $2,889 |
| Other student loans | 0 | 0% | $0 | $0 |
| Student loan aid | 7,761 | 75% | $22.4 million | $2,889 |
| Total student aid | 8,482 | 82% | $74 million | $8,726 |
Information in this story was obtained from the National Center for Education Statistics. The source data can be found here.
