It is interesting to note that, every year, around 25% of students at TIC receive some kind of financial aid. Notably, a total of 19% of the applicants to Taylor Institute of Cosmetology receive the Federal Grant every year. In comparison, 19% of the students get the Student Grant, and 19% of the applicants receive the Pell Grant. And, for the Pell Grant awardees, the average aid amount is $5,424. 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. In contrast to grants and scholarships, student loans are taken by the candidates at a certain rate of interest. Moreover, the funds received through these loans will have to be repaid within a given timeframe.