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 $62,526. The total percentage of candidates applying to Faust Institute of Cosmetology-Spirit Lake who receive the Federal Grant is 100%. On the other hand, 100% of the candidates get the Student Grant, while 100% receive the Pell Grant. And, for the Pell Grant awardees, the average aid amount is $5,344. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. Candidates are also required to repay these loans within a given period. At FICSL, an estimated number of 67% of the applicants choose to go for student loans.