It is interesting to note that, every year, around 86% of students at MSCWC receive some kind of financial aid, while the total amount of assistance/loans provided is $889,113. The total percentage of candidates applying to Minnesota School of Cosmetology-Woodbury Campus who receive the Federal Grant is 59%. On the other hand, 73% of the candidates get the Student Grant, 16% receive the Institution Grant, and 59% get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $4,947, while the same comes to $1,511 for State Grant receivers and $639 for Institution Grant awardees. And, for the Pell Grant awardees, the average aid amount is $4,386. 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. However, student loans attract a certain rate of interest at which the funds are borrowed. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. Every year, around 80% of the applicants to Minnesota School of Cosmetology-Woodbury Campus opt for student loans.