Interestingly, almost all of the students at ABC receive some sort of financial aid. Notably, a total of 71% of the applicants to Advanced Beauty College receive the Federal Grant every year. Meanwhile, 100% of the applicants receive the Student Grant and 29% are awarded the Institution Grant, while 71% of the students get the Pell Grant. On the other hand, the average aid received by the Pell Grant awardees is $2,758. Among other things, the annual family income of the applicant plays a major role in determining the total financial aid they are actually eligible to receive. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. However, student loans attract a certain rate of interest at which the funds are borrowed. Moreover, the funds received through these loans will have to be repaid within a given timeframe.