Types of financial aid for mechanic training includes private student loans, scholarships, and government grants. Also, the college you choose may have other funds to apply for. Be sure to talk with your admissions advisor about it.
Investment in school can be worth your while: In 2019, mechanics made an average annual pay of $44,890, and diesel mechanics averaged $48,500 that same year (bls.gov).
Find mechanic and diesel mechanic training programs near you.
Where To Begin
First, start with the Free Application for Federal School Aid. The FAFSA is relatively easy, but it takes time to complete. Your school’s financial aid advisor will be able to help if you get stuck. The earlier your application is in, the more aid you may receive.
To begin the financial aid process, you MUST fill out the FAFSA form.
When it comes to financial aid for mechanic programs, grants are the most desired because they don’t need to be repaid. The two most widely known are the Free Application for Federal School Aid (FAFSA mentioned above) and/or the Pell Grant.
There are other grants available. For example, some states have lottery and scholarship grants.
Here’s a short list of examples:
- Arkansas - Academic Challenge Scholarship
- Florida - Bright Futures Scholarship Program
- Georgia - HOPE Scholarship, HOPE Grant, and others
- Kentucky - College Access Program (CAP) Grant and others
- West Virginia - PROMISE Scholarship
Each state has its own grants and scholarships available. We recommend you search your state’s official website to find more information.
A private student loan will cover the cost of mechanic school. Popular student loan programs include the Sallie Mae Career Training Smart Option Loan and the William D. Ford Federal Direct Loan Program because of their lower-than-average interest rates. These and other types of student loans must be repaid starting about 6 months after graduation.
Merit scholarships are not just for mechanic training and are awarded based on standards set by each individual scholarship committee. These standards usually include top grades, community activity, and an obvious passion for your education.
Scholarships For Mechanic Training
There are scholarships available specifically for students who are going into the mechanics trade. Here are a few.
AmericanMuscle Automotive Scholarship: Four scholarships for $2,000 each will be awarded to students pursuing an automotive-themed major.
APSA of Illinois Scholarship: The APSA of Illinois Scholarship Program awards up to six $500 scholarships each academic year.
Automotive Women's Alliance Foundation Scholarship: “Awarded quarterly to the women that solicit passion and drive for the automotive industry.” Awarded as of December 2018: 167 scholarships totaling $414,500.
Find a local mechanic trade school now. You could be career-ready in as few as 10 months.