$4,869

Avg. Federal Grant

$7,127

Avg. Federal Loan

$3,673,454

Total Aid Awarded

Michigan College of Beauty-Troy Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

100%

Total Aid Amount Average Total Aid Awarded per year.

$3.673M

Financial Aid Official Website

N/A

It is interesting to note that almost every student at MCBT receives some kind of financial aid, while the total amount of provided assistance/loans in a year is $1,628,521. Notably, a total of 59% of the applicants to Michigan College of Beauty-Troy receive the Federal Grant every year. On the other hand, 59% of the candidates get the Student Grant, 59% receive the Institution Grant, and 59% get the Pell Grant. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $3,326. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. 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 58% of the applicants to Michigan College of Beauty-Troy opt for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

76%

State Grant Aid

N/A

Institution Grant Aid

100%

Pell Grant

76%

Average Aid Awarded

Federal Grant Aid

$4,869

State Grant Aid

N/A

Institution Grant Aid

$1,629

Pell Grant

$4,869

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$5,798

$30,001 - $48,000

N/A

$48,001 - $75,000

N/A

$75,001 - $110,000

N/A

Over $110,000

N/A

Student Loans for Michigan College of Beauty-Troy

Average Loan Amount Average Loan Amount received per year.

$7,127/Year

Students Taking Out Loans

82%

Loan Default Rate

20.2%

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