Financial Aid for Trade School
Individuals attending trade schools and colleges often need help paying for their education. While some employers and unions offer tuition reimbursement, it’s generally up to the students to cover the cost of coursework and supplies. Thankfully, there are many financial aid options, including scholarships, grants, and loans.
Start with a Federal Form
Getting help begins with the United States Government’s FAFSA form. Students submit information about their income and assets, and officials compile a report. The school receives these details and puts together a financial aid package.
Many schools offer a wide variety of scholarships based on academic performance and other factors. In addition, some companies and non-profit organizations provide free tuition money to qualified learners. Finding these options requires research, and many scholarships require students to complete an application process.
Grants are monetary awards from federal, state, and local governments based on an individual’s financial need. Some have certain strings attached, such as working in a specific field for a certain amount of time after graduating.
There are two different types of student loans available, federal and private. Both require repayment after graduation. The U.S. government runs the federal loan program. They offer low-interest financing to people attending accredited trade schools.
Also, some banks offer private loans for qualifying students. These options tend to have higher rates of interest. Applicants need to seek out these loans, as schools do not automatically include them in financial aid packages.
Military veterans may be eligible for GI Bill benefits, which cover tuition, housing, and school supplies. Also, some students might qualify for Federal Work-Study, which employs them on campus.
Students who have a hard time paying for school can get help from the school’s financial aid department. These employees have plenty of experience and can help fill out the required paperwork and suggest scholarships.