Interestingly, almost all of the students at MCBM receive some sort of financial aid, and the total amount of assistance/loans provided totals more than $456,483 in a year. Notably, a total of 71% of the applicants to Michigan College of Beauty-Monroe receive the Federal Grant every year. On the other hand, 71% of the candidates get the Student Grant, while 71% receive the Pell Grant. And, for the Pell Grant awardees, the average aid amount is $3,663. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. 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. Every year, around 71% of the applicants to Michigan College of Beauty-Monroe opt for student loans.