As many as 95% of the students at MCHD get some sort of financial aid, and the total amount of assistance/loans provided is more than $420,326 in a year. Notably, a total of 56% of the applicants to Model College of Hair Design receive the Federal Grant every year. On the other hand, 76% of the candidates get the Student Grant, while 56% receive the Pell Grant. On the other hand, the average aid received by the Pell Grant awardees is $4,049. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. In contrast to grants and scholarships, student loans are taken by the candidates at a certain rate of interest. Candidates are also required to repay these loans within a given period. Every year, around 87% of the applicants to Model College of Hair Design opt for student loans.