$6,499

Avg. Federal Grant

$8,850

Avg. Federal Loan

$259,975

Total Aid Awarded

M J Murphy Beauty College of Mount Pleasant Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

83%

Total Aid Amount Average Total Aid Awarded per year.

$259.975K

Financial Aid Official Website

www.mjmbc.net/financial-aid

Interestingly, almost all of the students at MJMBCMP receive some sort of financial aid, and the total amount of assistance/loans provided totals more than $209,000 in a year. Notably, a total of 100% of the applicants to M J Murphy Beauty College of Mount Pleasant receive the Federal Grant every year. On the other hand, 100% of the candidates get the Student Grant, while 100% receive the Pell Grant. On the other hand, the average aid received by the Pell Grant awardees is $8,333. 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. At MJMBCMP, an estimated number of 85% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

100%

State Grant Aid

N/A

Institution Grant Aid

N/A

Pell Grant

100%

Average Aid Awarded

Federal Grant Aid

$6,499

State Grant Aid

N/A

Institution Grant Aid

N/A

Pell Grant

$5,393

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$6,935

$30,001 - $48,000

$4,250

$48,001 - $75,000

$4,000

$75,001 - $110,000

N/A

Over $110,000

N/A

Student Loans for M J Murphy Beauty College of Mount Pleasant

Average Loan Amount Average Loan Amount received per year.

$8,850/Year

Students Taking Out Loans

13%

Loan Default Rate

11.7%

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