Trade schools are a very popular option right now, as they place their graduates directly into their field of study, often faster and cheaper than obtaining a bachelor’s degree from a four-year educational institution.
What are Trade Schools?
Trade schools are educational programs that provide training for a specific career or job after high school completion. These schools include vocational, technical, and trade education, and typically lead to a specific professional certification, licensing process, or apprenticeship.
Costs of Trade Schools
Tuition and fees charged by trade schools can vary widely, and not all of them are as affordable as one might think. If you are seeking a recognized professional certificate or degree, look into public colleges for the best deals. Public colleges with two-year programs, such as community colleges, had the lowest average annual costs for tuition and fees in 2018 at $3,600. Public colleges that offer programs less than two years have the second lowest costs, with an average cost of $7,437 per year.
Types of Financial Aid Available for Trade Schools
Many students rely on financial aid to cover the costs of vocational education. However, financial aid for trade schools may not be as straightforward as it is for traditional colleges and universities and their degrees.
Government Financial Aid
First, check if you can access government financial aid for trade schools. This includes Pell Grants, which provide free money to students who demonstrate financial need. Students can also access student loans and other types of government financial aid.
Trade School Scholarships
Next, look for scholarships for free money to cover the costs of your program. The best place to start your search is your trade school. Check if they offer school-sponsored scholarships or can direct you to other private scholarships you may qualify for.
Private Student Loans
What if you can’t cover all your costs with government financial aid or scholarships? This is where private student loans, or even personal loans, can come in handy. Some lenders offer private student loans specifically for eligible trade school programs. Sallie Mae offers the Smart Student Loan for vocational training.
Frequently Asked Questions
Does FAFSA cover trade schools? Yes, you should use the FAFSA application for any accredited school, whether it is graduate, undergraduate, or vocational, to determine your eligibility for financial aid.
What are the highest paying jobs for trade school graduates? Radiologic technologists, elevator installers and repairers, and dental hygienists are some of the highest paying jobs in the trade sector. These jobs all earn an average of at least $75,000 and take two years or less to complete training.
Source: https://www.thebalancemoney.com/financial-aid-for-trade-schools-how-it-works-4780844
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