$5,459

Avg. Federal Grant

$5,393

Avg. Federal Loan

$646,771

Total Aid Awarded

Magnolia College of Cosmetology Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

65%

Total Aid Amount Average Total Aid Awarded per year.

$646.771K

Financial Aid Official Website

www.mcocjackson.com

It is interesting to note that, every year, around 91% of students at MCC receive some kind of financial aid, while the total amount of assistance/loans provided is $751,838. At MCC, the total percentage of applicants who receive the Federal Grant stands at 79%. In comparison, 79% of the students get the Student Grant, and 79% of the applicants receive the Pell Grant. On the other hand, the average aid received by the Pell Grant awardees is $3,024. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. Apart from financial grants and scholarships, candidates can also avail of monetary benefits like student loans to fund their education. However, student loans attract a certain rate of interest at which the funds are borrowed. Moreover, the funds received through these loans will have to be repaid within a given timeframe. Every year, around 71% of the applicants to Magnolia College of Cosmetology opt for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

68%

State Grant Aid

N/A

Institution Grant Aid

N/A

Pell Grant

68%

Average Aid Awarded

Federal Grant Aid

$5,459

State Grant Aid

N/A

Institution Grant Aid

N/A

Pell Grant

$5,459

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$5,920

$30,001 - $48,000

$5,070

$48,001 - $75,000

$5,770

$75,001 - $110,000

N/A

Over $110,000

N/A

Student Loans for Magnolia College of Cosmetology

Average Loan Amount Average Loan Amount received per year.

$5,393/Year

Students Taking Out Loans

82%

Loan Default Rate

16.8%

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