June 24, 2024

Financial Aid for Trade School — Ways to Pay for Your Degree

Students who go to trade schools learn relevant information and skills that apply directly to their career of choice. Trade schools give students the information, hands-on time, resources, and instructors needed to learn new skills. The information and skills learned at trade schools can expand the career opportunities open to you and can lead to higher pay overall.

To attend a trade school, you will need to pay tuition, and usually there are books, tools, and other fees to consider. If you’re wondering, “How am I going to pay for this?”, there are a few ways! From trade school scholarships to student loans, let’s break down what financial aid for trade school looks like.

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Understanding the Types of Aid

Generally, there are three types of aid: grants, scholarships, and loans.

Grants are typically awarded based on a student’s financial need, academic merit, or unique characteristics. Grants do not have to be repaid. One example is the Federal Pell Grant. (Note: if you have a prior bachelor’s degree, you’re ineligible for a Pell Grant.)
Like grants, scholarships do not need to be repaid. They are most often awarded based on merit or specific criteria, such as membership in a particular organization. Scholarships can be offered by schools, private foundations, or other organizations, and you can use them to cover tuition costs or other educational expenses (each scholarship will provide information about how the funds can be used).
Loans are a bit different; loans must be repaid with interest. For those who qualify, loans are available through the Federal Student Aid program, like the William D. Ford/Stafford Direct Loan Program. Sometimes these loans are subsidized by the Federal government, meaning that they pay the interest on the loan while the student is in school.

Applying for financial aid for trade school — frequently asked questions

Does FAFSA pay for trade schools?

The school is approved to participate in Federal Student Aid programs. Financial aid may be available for those who qualify. To apply for Federal Student Aid, you need to complete a FAFSA (Free Application for Federal Student Aid). Everyone should apply for federal financial aid to check their eligibility. Regardless of your income or whether you think you’re eligible for aid or not, you should fill out a FAFSA.

There’s no downside to filling out a FAFSA; it’s not like your credit is run. Filling out a FAFSA determines whether you’re eligible for grants Federal Student Aid (FSA) in general. The information can be sent to the schools you’re interested in, so they know what the difference is between the federal aid you’re eligible for and what you need to pay. Think of it as giving the school an opportunity to understand your financial landscape.

How is trade school financial aid calculated?

To determine your need, the most important factors are your income and your age.

Things to note:

When the FAFSA talks about your ‘income,’ it’s not your income from last year. It’s your income from two years ago.
If you are under 24, you’re considered a “dependent student” unless you’re married or a veteran. This means FSA will consider your parents’ income in the aid decision, and you’ll likely to be eligible for less in financial aid.
If you are over 24, you’re considered an “independent student,” and you’re eligible for more in federal aid or loans.

Will the funding cover the entire cost of the program?

No, the funding you receive through federal financial aid will not fully cover the cost of the program. That’s when it’s time to direct your attention to scholarships, especially internal ones.

What’s financial aid like for veterans?

Veterans can fill out a FAFSA to check their eligibility for Federal Student Aid. They also may have education benefits available to them through the VA. The school is qualified for all chapters of Veterans Education Benefits. To find out what benefits you are eligible for, please contact the VA. Most often, we see students use Chapter 33 (the Post 9/11 GI Bill®) and Chapter 31 (VR&E – Veteran Readiness and Employment) to pay for school.

To use Chapter 33, the school will need the Certificate of Eligibility (COE) the VA provides you that verifies your entitlement to the school and that the VA can be billed for your tuition. Your COE confirms the percentage of the full benefit and the months of education you’re entitled to and the timeframe when you need to use the benefit. If you have a service-connected disability, Chapter 31 (VR&E) can help you address education or training needs. If you are using Chapter 31, you can work with your Vocational Rehabilitation Counselor (VRC) who can coordinate with the school notify us that your education program is approved.

For more information, visit our veterans page.

GI Bill® is a registered trademark of the U.S. Department of Veterans Affairs (VA). More information about education benefits offered by VA is available at the official U.S. government Web site at http://www.benefits.va.gov/gibill.

Trade School Scholarships

How our school-administered scholarships work

We can’t speak for every trade school but at the Northwest School of Wooden Boatbuilding, we have a few sources for internal scholarships: a) we raise money ourselves and b) organizations and individuals often donate money for scholarships (or even sponsor one outright). Sometimes the outside organizations or individuals know what kind of students they’d like to see receive the award; other times they designate the award for a specific program. But once they donate, NWSWB oversees who that money goes to.

These types of awards are much more accessible. It’s a much more personal process — especially when compared to the FAFSA. We get to talk to someone, learn their story, and figure out where and how to move that money.

NWSWB has over $180,000 in scholarships available for programs beginning in October 2024. In 2023, 45% of the class at the Northwest School of Wooden Boatbuilding got school-administered scholarships.

At NWSWB, we make this process really easy: You only have to fill out one application to get considered for all the school-administered scholarships. We determine which one fits you best.

How outside scholarships work

Outside scholarships (meaning they are administered by different organizations) have their own applications, committees, and deadlines. In recent years, many students have been awarded outside scholarships – some students have paid all or a large portion of their NWSWB tuition with outside scholarships. The earlier you start, the more opportunities you will have to apply for scholarships – some deadlines start in January.

For a full list of outside scholarships, check out our scholarships page.

Things to keep in mind when looking for trade school scholarships

These ring particularly true for scholarships to the Northwest School of Wooden Boatbuilding but could come in handy for other trade schools, as well.

Think about who you are. There are scholarships for LGBTQ students, women, students of various ages, people who want to go into the trades, etc.

Think about where you want to go. There may be scholarships for those looking to enter a specific industry.
Think about the program. With outside scholarships, some organizations may favor the type of program you’re looking to study.
Check out our scholarships page but remember to think outside the box. Is there an organization a family member is a part of that might fund scholarships? Is there a yacht club in your area that might consider a scholarship or grant to a school like NWSWB? Is there a hobby that you enjoy? (For example, a fly-fishing group funds scholarships to programs like the ones at NWSWB!)
Think locally and get creative with your Google and scholarship search engine searches. Try keywords like vocational, marine trades, maritime industry, marine studies, carpentry, marine electrician, etc.
Are the scholarships used only for tuition and fees paid directly to the school (and nothing else), or will you be able to receive cash disbursements for awards beyond tuition?
Don’t. Stop. Applying.

Financial Aid at the Northwest School of Wooden Boatbuilding

At the Northwest School of Wooden Boatbuilding, we’re a small trade school. We make it a point to be available by text, phone, or email, to have honest and transparent conversations with you. Our goal is to provide the information you need about the entire process - from admissions to enrolled student to graduation and beyond. Our goal is to be your advocate.

And listen — we get it. You may not want to wade through bureaucracy, jump through hoops, or fill out forms, but if you want an opportunity to become a true craftsman at NWSWB, it’s here. We will make it as easy as we can to help you be successful.

What are your next steps? You can learn more about the admissions process, start filling out the FAFSA or you can start the scholarship application (just the one!) for our internal scholarships. Reach out if you have any questions – we’re happy to help! Contact us at admissions@nwswb.edu or (360) 385-4948.

Apply to NWSWB Scholarships