Make your education a valuable (and affordable) investment in your future
You’ve made a pretty significant decision in furthering your education – congratulations! In addition to deciding on a specific program to study, the next step is to figure out how you are paying for trade school.
As you will see, there are a number of options to consider, including financial aid, scholarships, grants and private student loans.
Financial Aid
When considering financial aid as an option for paying for trade school, the first step is to fill out the FAFSA form, which stands for Free Application For Student Aid. It allows you to apply for federal grants, loans, and work-study funds. This money is provided by the U.S. Department of Education, for those who qualify, with the amounts allotted varying by each individual’s financial situation.
You have an option to complete the FAFSA online or in paper form, but the preferred version is through the web-based format, because it includes step-by-step guides for each question and built-in error checking and you’ll receive your Student Aid Report sooner than using the paper format. Before you sit down to apply, make sure you have all the necessary documents on hand. The loans available through the U.S. Department of Education include direct subsidized loans, direct unsubsidized loans and the federal Parent PLUS loan (for parents who are helping pay for your educational expenses).
Scholarships
There are several student scholarships available. Scholarships are based upon your merit or background. Typically, merit-based scholarships are awarded for academic achievement or a special skill or talent. Other scholarships are based on specific groups of people, such as women, military families, etc. Dawn Career Institute also offers scholarships for high school seniors for all programs. In addition, Dawn Career Institute offers a scholarship for students in the advanced esthetician program.
Some good resources to find scholarships that can assist you in paying for trade school include Chegg, which allows you to personalize your search by matching you with scholarships that fit your career goals, and Fast Web, which can help you find specific scholarships for students attending vocational, technical and trade schools. If you are a veteran, you may be eligible to receive benefits to help in you paying for trade school through the Veterans Administration (VA).
Grants
Grants, like scholarships, are the most desirable options for paying for trade school, since they don’t have to be paid back. When applying for financial aid through FAFSA, you can be considered for a Pell Grant, which are based on financial need and the cost of school attendance, among other factors. Another option is the Federal Supplemental Educational Opportunity Grant (FSEOG), which is also based on financial need. Keep in mind, these grants are only considered if you fill out the FAFSA form.
Private Student Loans
Private student loans are another option for consideration in paying for trade school. Keep in mind, that many private loans may need to be paid back, even while you’re enrolled in school. Interest rates can bring up the cost of the loan, and it may not be tax deductible. For more information or questions about paying for trade school at Dawn Career Institute, talk to one of our financial aid specialists or give us a call today at 1-800-490-9135.
