HVAC school training programs can feel expensive when you're looking at a lump figure, but that shouldn’t stop you from fulfilling your dreams of working as an HVAC tech. Most schools offer payment plans, and financial aid can lessen the cost of your trade school or college.
Attending HVAC school can be more than worth the initial investment: In 2019, the average annual pay for an HVAC technician was $51,420 (bls.gov). And you can be done with training in as few as 6 months! Continue reading to learn more about getting financial aid for HVAC school.
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Types Of Financial Aid For HVAC Training
The two major financial aid types are government-funded grants (that don’t have to paid back) and student loans (which require reimbursement).
Sources Of Financial Aid
In addition to government-funded grants, many colleges have their own funds that can be applied for, whether it’s a scholarship, grant, or loan.
Understanding Your Options
- Grants: When it comes to financial aid, grants are the most sought after because they don’t have to be paid back. Two of the best options are the Free Application for Federal School Aid (FAFSA) and the Pell Grant.
- Private loans: Private student loans will cover the cost of school, but they must be paid back over a designated period of time, and usually with a high interest rate. The William D. Ford Federal Direct Loan Program and the Sallie Mae Career Training Smart Option Loan are loans offered with a lower interest rate, making the payback less intimidating.
- Vocational scholarships: There are HVAC-specific scholarships available to you from companies like Home Depot and organizations like the American Society of Heating, Refrigerating, and Air-Conditioning Engineers (ASHRAE).
- Merit scholarships: Merit scholarships are awarded based on certain criteria a student has. Students are responsible for applying for these.
You can discuss financial aid options with your HVAC school. Not all trade schools qualify for government financial aid. The school’s financial aid department will be able to help you with options.
Reference & More Reading:
Study help: Practice Tests (HVAC, electrician, welding, mechanic, and more)