How Much Does Trade School Cost?

It is crucial to consider what form of education will benefit you most when deciding which path to follow after high school. Over the past handful of years, more importance has been put on convincing students to attend college instead of choosing a non-conventional route. You not only have the opportunity to earn a substantial income within a trade profession, but most trade jobs also tend to be resistant to a recession. With that being said, there is now an abundance of jobs opening up for those who don't have a four degree but want to work in the blue-collar field.

An Overview of Trade School

Trade schools differ from typical colleges in that students learn specific professional skills instead of general education. These types of institutions are often called technical or vocational schools. By only focusing on developing the knowledge needed for their desired careers, trade school students can graduate and enter the workforce sooner than their peers at traditional colleges.

Most trade schools focus on teaching students the technical or mechanical skills they need for specific professions. Some programs also offer apprenticeship opportunities so students can gain hands-on experience.

So, How Much Does Trade School Cost?

Attending a trade school is an excellent way to gain the skills you need for your chosen profession. The cost of tuition can vary greatly depending on the type and length of the program, but average costs range from $3,000-$15,000, according to data from the U.S. Department of Education. When making your decision, it's important to compare all education options in terms of cost.

Different Financing Options For Trade School

After you have chosen to attend a trade school and considered the price, a few financing options may help make paying for it easier. You can explore these choices to decide which one makes the most sense for you and meets your needs best. The different types of financing include:

Financial Aid

Although federal financial aid isn't available for all trade schools, you can fill out the Free Application for Federal Student Aid (FAFSA) form on the U.S. Department of Education's website to see if your chosen school participates in the program. If they don't, you may still be able to attend that specific school by inquiring about their eligibility process directly with them.

After you submit the paperwork and time passes, you will receive an offer of financial aid indicating how much money the school will give you for your tuition and other related expenses. There are typically eligibility requirements to apply for this aid and continuing requirements to maintain your status.

Student Loans

In addition to scholarships and grants, you may also take out student loans to finance your education. Keep in mind that you will have to repay any money you borrow, plus interest. Federal loans usually offer fixed interest rates and are administered by the government. To learn more about these loan programs and available options, visit the U.S. Department of Education's website.

In addition to government loans, you can take out private student loans or personal loans from a bank or credit union. Some institutions even specialize in lending money to students taking vocational training. Just be aware that private loan interest rates are usually variable, as opposed to the set rates of federal loans.

Grants

Grants typically do not need to be repaid and vary in amount based on your level of financial aid eligibility, as opposed to loans. To learn about the types of grants offered by the federal government, visit the U.S. Department of Education's website.

A well-known example is the Pell Grant from the federal government, which not only considers the tuition fees of your school but also whether you will be enrolling full or part-time. Some state grants are available to vocational students, though meeting specific conditions may be necessary to become eligible for them.

Scholarships

Scholarships are a type of funding that does not have to be repaid. Various websites provide students with a list of scholarships they may be eligible for and the requirements and process to apply. Some organizations offer scholarships exclusively for students who plan to attend trade school. And typically, each scholarship has different categories:

Need-Based Scholarships:

There are scholarships available that consider economic needs. Many of these set a maximum income limit and will require documentation to prove your family falls below that number. Others may have additional qualifications like specific academic grades.

Merit-Based Scholarships:

If you are currently enrolled in high school, there are plenty of opportunities for you to receive scholarships. Some organizations or institutions offer these awards to students who have excelled academically, such as maintaining a high GPA or scoring well on the SAT or ACT.

Vocational-Specific Scholarships:

Some scholarships are available for those pursuing specific careers, welding or mechanic work. Vocational schools, professional associations, or other organizations may offer these.

Race, Ethnicity, or Gender Scholarships:

There are also scholarships available that cater to individuals of a certain race, ethnicity, or gender. However, in addition to meeting the requirements mentioned above, candidates may also be required to meet specific academic standards the organization sets.

Trade School vs. College?

There are benefits to both trade school and college. You can achieve your goals with either option, but in general, those who finish a degree (whether from a trade school or college) have better job prospects and earn a higher income than those who don't. They also tend to receive better employment benefits and more career advancement opportunities.

If you know what job you want to have, trade school is the right place for you. Their programs are shorter and more affordable than a typical four-year university, and they give fewer chances to explore other career options. If money is an issue for you and your primary goal is to start working ASAP, go to trade school!

Colleges are usually more advantageous for students who want to gain information about multiple fields and desire more formal academic instruction. Although university tuition might be expensive, you can always apply for financial aid or scholarships.