It is interesting to note that, every year, around 94% of students at PAB receive some kind of financial aid, while the total amount of assistance/loans provided is $271,472. The total percentage of candidates applying to Phipps Academy of Barbering who receive the Federal Grant is 92%. Meanwhile, 92% of the applicants receive the Student Grant, while 92% of the students get the Pell Grant. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $3,747. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. Apart from financial grants and scholarships, candidates can also avail of monetary benefits like student loans to fund their education. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At Phipps Academy of Barbering, the percentage of candidates who opt to avail of student loans is around 93%.