by our College Data Analytics TeamThe majority of students will not be asked to pay the complete price tag of a school. Rather, they are presented a financial aid deal that includes a mix of loans, grants, scholarships, and possibly work-study opportunities. The total price of attendance at Michigan College Of Beauty can feel tremendous, but do not forget that almost all students receive some sort of financial help.
Just what financing solutions does Michigan College Of Beauty deliver, and just what are you going to be eligible for? Keep scrolling for answers. Keep reading to discover just how much financial aid could be open to you.
Eligibility for aid and scholarships is driven mostly by your household’s income and need. Read on to get a sense of the financial assistance available at Michigan College Of Beauty.
Colleges use loans, grants, scholarships and work-study to minimize what students actually pay out of pocket. Keep in mind that certain forms of assistance are more beneficial than others, and aid amounts differ from student to student.
For freshmen starting at Michigan College Of Beauty, 24% of the incoming full-time class was awarded financial aid approximately 4 new students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 24% | $6,471 |
| Institutional grants & scholarships | 0% | — |
| Federal Pell grants | 24% | $6,471 |
| State/local grants | 0% | — |
| Federal student loans | 18% | $9,500 |
Gift aid — grants and scholarships — beats loans every time because none of it has to be repaid. Here, some 29% of undergraduates were awarded an average grant or scholarship of $4,222 (among about 20 students).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 29% | $4,222 |
| Federal Pell grants | 29% | $4,222 |
| Federal student loans | 26% | $4,897 |
How much a family pays depends heavily on income, because most aid is awarded on the basis of financial need.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $10,398 |
The numbers above are post-aid net prices, so they already account for grants and scholarships.
The median federal debt load at Michigan College Of Beauty comes to $4,750 of federal borrowing.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $4,750 |
The numbers below show the full range, not just the middle of the distribution. Use the percentiles below to see the debt range at Michigan College Of Beauty.
| Percentile | Cumulative Federal Debt |
|---|---|
| 25th percentile | $2,750 |
| 75th percentile | $9,833 |
The figure below distills the debt data into a single burden category for Michigan College Of Beauty.
Stafford loans make up the bulk of federal direct lending to undergraduates. The aggregate figures below show how active the program is at Michigan College Of Beauty:
| Metric | Value |
|---|---|
| Stafford loan recipients | 315 |
| Total Stafford loan amount | $2,394,674 |
References
More about our data sources and methodologies.