Attending a trade school provides several benefits. These include shorter programs than universities and typically a lower cost of attendance over the length of the program of study or degree. Moreover, skilled trade workers earn good salaries and have great job security.
Unfortunately, some students are still put off by the cost of trade school. They are eager to learn yet don’t have the resources to afford it. Keep reading to discover valuable tips on paying for trade school tuition.
Tips for Paying Trade School Tuition
Learning a trade can be a great career option. Certificate programs are much shorter than four-year colleges and universities and usually, there is less overall student debt than four-year degree programs. Plus, you’ll have new skills in a shorter time. Even so, some people can’t afford it.
Here are five tips to help students pay for school tuition at accredited institutions:
1. Vocational Scholarships
Research whether there are organizations offering vocational scholarships. Specific trades such as HVAC may offer partial scholarships that will help offset the tuition costs. It is suggested that you meet with a financial aid professional who may be able to direct you to organizations that provide such scholarships.
2. Federal Pell Grants
The Federal Pell grant may be helpful in paying a portion of the tuition for your trade school program if qualified. The program is available to Title IV approved institutions, specifically Pell Grant approved programs. These grants won’t pay for everything though. They’ll cover part of the tuition and you can consider student loans or other payment options if qualified. This is much better than paying everything on your own.
3. Federal Supplemental Educational Opportunity Grant (FSEOG)
The Federal Supplemental Educational Opportunity Grant (FSEOG) is designed to help the neediest students with educational costs. The program is available to Title IV approved institutions, specifically Pell Grant and SEOG grant approved programs. The funding is limited at each institution and is typically awarded starting in July of each year to qualified students.
4. Student Loans
Students can apply to the federal direct loan programs to see if they are eligible for a student loan to pay a portion of their school fees. Federal direct loans are guaranteed to students who meet eligibility guidelines and submit appropriate application and documents. Direct student loans for trade schools have good repayment rates and terms. The program is available to Title IV approved institutions. This could help remove the overall concern about how to get additional funds for tuition.
5. Private Funding
Students may be able to obtain other funding sources such as a private loan or enter into a private payment plan directly with an institution if qualified. These plans may require some payments while the student is in school. It is suggested the student exhaust all student grants, loans and scholarships, if qualified, before considering this option.
Learn More About Trade and Vocational Programs
As you can see, there are several options for paying your trade school tuition if you qualify and if the institution participates in the programs. If you are very eager to get the training, you may be able to find other ways to fund your education. In the end, the vocational training could be worth it for you.
Visit our Financial Services to learn more about Financial aids.