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.