Interestingly, almost all of the students at MLBC receive some sort of financial aid. The total percentage of candidates applying to My Le's Beauty College who receive the Federal Grant is 82%. On the other hand, 82% of the candidates get the Student Grant, while 82% receive the Pell Grant. And, for the Pell Grant awardees, the average aid amount is $2,061. Among other things, the annual family income of the applicant plays a major role in determining the total financial aid they are actually eligible to receive. 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. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period.