Notably, 90% of the students at Formations Institute of Cosmetology & Barbering get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $195,646. Notably, a total of 86% of the applicants to Formations Institute of Cosmetology & Barbering receive the Federal Grant every year. In comparison, 86% of the students get the Student Grant, and 86% of the applicants receive the Pell Grant. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $6,055. 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. 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. Candidates are also required to repay these loans within a given period. At Formations Institute of Cosmetology & Barbering, the percentage of candidates who opt to avail of student loans is around 67%.