Notably, almost all of the college students get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $225,600. At BMBC, the total percentage of applicants who receive the Federal Grant stands at 100%. In comparison, 100% of the students get the Student Grant, and 100% of the applicants receive the Pell Grant. On the other hand, the average aid received by the Pell Grant awardees is $6,095. 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. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. Every year, around 100% of the applicants to Bos-Man's Barber College opt for student loans.