For most people, career training represents a significant investment. Fortunately, Uncle Sam has financial aid programs that can help make it easier!

The U. S. Department of Education administers a variety of financial assistance programs available to qualified college and technical training school students. These can provide support in the form of low-interest loans (which have to be repaid) and grants (which may not have to be repaid). Anyone applying to a career college should check with their school to determine if the institution participates in federal programs—not all of them do.

Here’s an overview of some federal programs. This is only a general outline, and programs are subject to change without notice.

• Federal Pell Grants are awarded through participating institutions to qualified students. Students must demonstrate financial need, and are generally for undergraduates or those who are enrolled in certain post-baccalaureate programs that lead to teacher certification or licensure.

• The Federal Supplemental Educational Opportunity Grant (FSEOG) program is for undergraduates who demonstrate exceptional financial need. Pell Grant recipients with the lowest expected family contributions (EFCs) will be considered first for a FSEOG. Just like Pell Grants, the FSEOG does not have to be repaid.

• The Academic Competitiveness Grant (ACG) is a relatively new program for qualified students who meet certain requirements, including academic grade-point-average standards.  

• The National Science and Mathematics Access to Retain Talent Grant (National SMART grant) is awarded to qualified students who are Federal Pell Grant eligible; are enrolled full-time; major in mathematics, science , technology, engineering, or certain foreign languages; and meet other requirements.

• Federal Stafford Loans are student loans that must be repaid. They are available to qualified undergraduate and graduate students. Funds may be provided either by the federal government, or by a private lender, although the federal government guarantees the loan funds.

• Federal PLUS Loans are unsubsidized loans made to parents. Students who live independently, or whose parents cannot get a PLUS loan, may be eligible to borrow additional Stafford Loan funds. The interest rate varies, but does not exceed nine percent.

There are three Campus-Based Programs, which are administered by participating schools:

• Federal Supplemental Educational Opportunity Grants are grants available for undergraduates.

• The Federal Work-Study Program provides access to jobs for both undergraduate and graduate students. Students earn money to help pay for education expenses.

• Perkins Loans are low-interest loans that must be repaid. The maximum loan amount is $4,000 for undergraduate students and $6,000 for graduate students per school year.

How do you find out if you’re qualified for any of these programs? It’s easier than you may think. Federally-approved schools will ask you to fill out a standard form, called the Free Application for Federal Student Aid, or FAFSA. The form is available online at www.fafsa.ed.gov. Once you or your parents complete the form, the information is used to help determine your eligibility. 

Check out the career training schools on Education-For-Careers. Then, when you contact the school that interests you, make sure you ask about federal financial assistance programs.