What Options are Available When Paying for Trade School?

Investing in education is one of the things you can rarely regret. This is because it can have indefinite returns throughout your lifetime. It could also lay the foundation for your success in a particular field, as most employers require certain formal qualifications. Are you prepared to take the next step? If you’re considering career-focused training, what are your plans for paying for trade school?

Finance Options When Paying For Trade School

Choosing to go back to school requires a lot of preparation, both mentally and financially. It’s no secret, some students are afraid they can’t afford to make the necessary investment to go to college. This could leave them wondering about the financial options they can take advantage of. If you are wondering how to plan to pay for trade school, the following are the main higher education funding options you should look into:

Grants and Tuition Assistance

Grants from individuals, nonprofits, and the federal government are awarded based on financial need and do not need to be repaid. Like scholarships, students receive grants without a need for repayment. On most occasions, the government or a generous individual awards these grants without tying them to your academic performance. 

There are a variety of federal grants available including the dream act, financial literacy, need-based, Federal Pell Grant, vocational rehabilitation, employment program, federal direct loan program, and the federal supplemental education opportunity grant. If you’re looking for options for paying for trade school, seek out as many grants as you qualify to help offset a portion of your tuition fees.

Scholarships

Internal and external scholarships can help to reduce the cost of tuition, regardless of need. Scholarships are designed to support student success and do not need to be repaid. With scholarships, students find reprieve when paying for vocational school to acquire the education they need to start successful careers.

Military and Military Spouse Assistance Program

First and foremost, thank you for your service. You spent years serving your country, now, let us serve you. The Military personnel who are willing to go an extra mile in their careers receive the funding to cover the cost of attending a higher learning institution, such as a trade school. Military funding programs like the Post-Vietnam Veterans’, the Montgomery GI Bill^® College and Education Assistance, Post 9/11 GI Bill^®, Dependents’, and the Reserve Educational Assistance may cover the costs of obtaining training in a new (or old) field, and most schools have teams available to assist with the paperwork. 

Student Loans

You can opt to apply for a student loan to partially support your academic goals. In comparison to grants and scholarships, students will have to pay back the loan after completion of their program. Getting an educational loan is easy if you are in a recognized institution. You need to ensure that the repayment plan is flexible to make it easier for you to service the loan within the stipulated time frame. You should consider requesting a loan when you need additional funding for your trade school.

Cash Payment

Finally, for those who can afford to pay cash for some or all of their education, paying for trade school is a smart option. Paying cash means you’ll walk away from school prepared to begin your career and without debt. 

Is SCI Affordable?

Your education is a wise investment in your future. And, it’s no secret, some students are afraid they can’t afford to make this investment. While you need practical solutions for paying for trade school, it also makes sense to find a school with manageable tuition rates. Southern Career Institute strives to make our tuition rates affordable. This is why we offer flat-rate tuition, rather than charge by the credit hour, so you always know the total cost of your SCI program—from the first day of school to your last. And, you’ll never pay for the same class twice. So, if you need to retake a course for any reason, it’s covered.  

What payment types does SCI accept? 

Using any combination of scholarships, grants, financial assistance, cash, and loans, our financial assistance team is here to help you create a personalized plan that meets your needs now, and in the future. Contact our admissions team to get more information on how to get started with one of the programs we offer.