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Trade schools are gaining in popularity due to their fast-track education plans and hands-on learning. If you’re searching for ways to fund a trade school program, student loans might be an option. First, see if you qualify for federal loans, then move on to private lenders.
Your options are limited since many private student loan providers only work with students attending a degree-granting program. Here are three private lenders that offer students loans for trade school:
Loan | Loan amount | APRs | Terms | Eligibility requirements | |
---|---|---|---|---|---|
Climb Credit Student Loans | Up to the full cost of tuition |
|
|
| Read review |
Wells Fargo Student Loan for Career and Community Colleges | Up to $15,000 per year for 2 years — with a lifetime limit of $40,000 for all education debt |
| 15 to 20 years — including a 6-month grace period |
| |
Sallie Mae Career Training Smart Option Student Loan | $1,000 up to 100% of the school-certified cost of attendance |
| 5 to 15 years — including a 6-month grace period |
|
Maybe, though it depends on the trade school. To qualify for federal aid, the school you’re attending must be accredited and offer degree-based programs — not just diplomas or certificates. You might want to look into your federal student loan options first, since these typically come with lower interest rates and more flexible repayment plans than private student loans or personal loans.
Ready to apply for financial aid for trade school? Gather information about yourself and your finances to speed up the process. Then follow these steps to get started:
Private student loans can help fill a gap in education funding, but there are a few key items you’ll want to be cautious of:
If you’re not sure loans are the right fit or you’re struggling to cover all of the costs, consider these alternative options:
Finding reliable funding sources to help pay for trade school can be tougher than if you were getting your four-year degree. But there are still options available if you do your homework. Remember to check out our A-to-Z list of scholarships and our guide to student loans for more ways to fund a skills-based program.
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