The cost of welding training programs can feel expensive, but the price of school could be a very good investment in your future. Think about it: You can be career-ready in as few as 7-10 months, and according to the U.S. Bureau of Labor Statistics, welders made an average pay of $46,690 in 2020 (bls.gov).
To help offset the cost of trade school and college, financial aid is available. Continue reading to learn more about getting financial aid for welding training.
What Types Of Financial Aid Are Available?
The two major types of financial aid available include government-funded grants such as the Pell Grant. In addition, there are student loans available that require repayment.
Some local welding trade schools have their own funds that can be applied for, whether it's a scholarship, grant, or loan. There are also state government and federal government courses. The following is more information about these options.
For many, grants are the most desirable option, because they don't have to be paid back. That means they don't accrue interest either. The best options is the Pell Grant.
While student loans help cover the costs of school, they must be repaid over a designated period of time, with interest. These loans are typically offered at a lower rate than the market, so the payback isn't as intimidating. They do not reduce the costs of schooling overall; they just help with the immediate payments due. The U.S. Department of Education offers the William D. Ford Federal Direct Loan Program, and the Sallie Mae Career Training Smart Option Loan is also available.
Merit scholarships must be applied for at the welding school you will be attending. The scholarships are awarded based on certain criteria set by the school.
Scholarships Specific to Welding School
There are welding-specific scholarships available to you from companies like John Deere and organizations like the American Welding Society (AWS). A simple internet search will return numerous results you can apply for.
Not all trade schools qualify for government financial aid, so make certain to discuss viable options with the financial aid officer at your school of choice. Your school’s financial aid officer should be able to point you in the right direction. There is a lot of financial aid to help with school on the table; don't let it sit there!