Types of financial aid for electrician training and other electrical trade school programs include government-funded grants, private student loans, and scholarships.
In addition to government-funded grants, many accredited colleges have other funds that you may apply for.
When it comes to financial aid for electrical programs, grants are the most popular because they aren’t required to be paid back. Two good options for you may be the Free Application for Federal School Aid (FAFSA) and/or the Pell Grant. Find links to them in the reference section below.
Private student loans will cover the cost of school, but they must be paid back, and they often have a high interest rate. The William D. Ford Federal Direct Loan Program and the Sallie Mae Career Training Smart Option Loan are two loans offered that generally have lower interest rates.
Vocational scholarships are for students entering a certain area of training. There are electrical and skilled trade-specific scholarships available from companies and organizations like the DEED scholarships and grants from the American Public Power Association (APPA). Find a link to DEED scholarships and grants in the reference section at the end of this article.
Merit scholarships are awarded based on certain criteria a student must meet. These criteria are sometimes based on excellent grades and/or community work, but there are many types of scholarships out there. Definitely talk with your adviser about this topic for personalized guidance.
Financial Aid Notes
Apply for the FAFSA first; all other financial aid considerations will be based on this. Not all trade schools qualify for government financial aid. However, some of these schools do have their own student financial initiatives. Your potential school’s admissions department will be able to help you figure out your choices.
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