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.