Financial Aid Opportunities to Explore Before Starting at Welding CollegeNovember 21, 2017
At top trade schools, an education in welding can quickly prepare you for gainful employment in an interesting new career. The prospect of such a fast entry to a new beginning is exciting, but for some students, the question of how best to manage tuition fees might put a little damper on things.
Fortunately, there are several financing options that can make paying for tuition much easier. Taking the time to explore some of the options that are out there can be a great way to simplify your financial situation ahead of starting your welding training, and leave you ready to focus on learning skills for your new career.
Curious about what kinds of opportunities exist for financial aid in Ontario? Here are a few avenues to look into.
OSAP Can be a Great Help for Paying for Welding College
If you want financial assistance paying for school, one of the best financing programs to look into should be the Ontario Student Assistance Program (OSAP). Offered by the Ontario government, the program offers funding in the form of loans, which a student starts repaying after they complete their education, and grants, which do not need to be repaid.
Applicants are automatically considered for both kinds of funding, and it is possible to decline what you are offered if you don’t want it. Whatever form of funding you receive, it can be applied toward tuition, books and supplies, student fees, living expenses, and childcare.
You will need to attend an OSAP-approved school in order to be eligible for this type of financial benefit, but for those students who do attend an approved school, the application process is painless. If you’re a Canadian citizen, resident, or protected person and reside in Ontario, be sure to apply to this program—you have nothing to lose.
Apply to OSAP and see what kind of tuition support the program might send your way
Consider Getting a Line of Credit to Pay for Welding Technician Training
Student lines of credit are another type of financial aid that you may want to consider exploring. These are arrangements that can be made with a regular bank allowing students to borrow an amount of money up to a predetermined maximum, with the funds to be put toward school and living expenses.
The amount of money available through student lines of credit tends to be in the thousands of dollars per year, meaning this type of option can be a convenient way to help you focus on your education without needing to work as many hours on the side.
What’s more, interest rates are generally low for student LOCs, which means repayment shouldn’t be too difficult once you finish school and become a production welder. The median salary for professionals working in welding careers is about $23 an hour, which can provide quite a comfortable living, and allow you to repay any funds you have had to borrow during your studies relatively quickly.
Some Welding Colleges Offer Flexible Payment Plans for Tuition
If you’re not keen to take on loans or open a line of credit, you might still be able to get a bit of financial leeway if you attend a school that offers flexible tuition payment options. Choosing to attend welding college at North American Trade Schools, for instance, could allow you to split your tuition fee up into interest-free monthly payments while you are a student.
Some schools will let you split your welding training tuition into smaller payments
This can be the perfect solution for anyone who wants to set out on a rewarding career path, but isn’t sure they can manage getting all their tuition money together at once. With welding training lasting just under a year, it won’t be long before the monthly payments will end and you will be able to enjoy a great new salary as you start your welding career.
Are you ready to begin your welding technician training?
Contact North American Trade Schools to learn more about getting started!