If you’re having trouble financing trade school careers, then there are many options available to help you. Because of inflation and increasing costs, education has been getting more and more expensive each year and by now it can costs thousands or even hundreds of thousands in the case of senior level positions to get certified. This money has to come from somewhere and for many people financing options are the only way to get ahead. You can get bank loans, bursaries, government grants as well as reimbursement from your place of employment.
Here are some ideas to help you find funding from a number of sources.
Financial institutions and loans
Banks and other financial institutions often give you the ability to take out a loan on certain types of education. You will probably need to discuss in detail with your bank manager what type of career training they can fund, but generally if they are convinced you have the means to pay back the loan with the interest, they will be more than happy to finance your career prospects.
These loans tend to be the most expensive though and you can be paying them back for a number of years after you get your first salary.
Bursaries and grants
Bursaries, scholarships and grants are often available from a variety of sources and are administered or advised by your college or university. Guidance and career counselors at higher education facilities (as well as most high schools nowadays) will be able to guide you to available sources of funding and assist with the application process.
There are many private institutions that award funding based on academic progress and achievements or even other factors, such as minority status, economic and social background and more. State, federal and international governments as well as nongovernmental organizations also offer funding for a variety of programs so it pays to check with them too.
Generally you will need professional help when applying for a bursary, scholarship or grant because the application process can be complicated. It may also require you to write some sort of an essay or statement and have certain experience or publications already.
From your employer
Another great source of funding for many people looking to enter trade school careers is through their own employer. Your human resources department may already have some sort of a training program set up to progress their own staff through the corporate ladder and outfit them for higher positions.