Interestingly, almost all of the students at CBSI receive some sort of financial aid. Notably, a total of 80% of the applicants to Cloyd's Beauty School 1 Inc receive the Federal Grant every year. Meanwhile, 100% of the applicants receive the Student Grant, while 80% of the students get the Pell Grant. And, for the Pell Grant awardees, the average aid amount is $5,084. 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. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. 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.