It is interesting to note that, every year, around 70% of students at LIBSH receive some kind of financial aid, while the total amount of assistance/loans provided is $649,684. At LIBSH, the total percentage of applicants who receive the Federal Grant stands at 40%. Meanwhile, 40% of the applicants receive the Student Grant, while 40% of the students get the Pell Grant. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $3,961. 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. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. At Long Island Beauty School-Hauppauge, the percentage of candidates who opt to avail of student loans is around 60%.