Types of financial aid for mechanic training include 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 2023, auto mechanics made an average annual pay of $51,940, and diesel mechanics averaged $59,920 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 FAFSA operates on a strict deadline, so be sure to submit it on time!
To begin the financial aid process, you MUST fill out the FAFSA form.
Grants
When it comes to financial aid, grants are generally more desired because they don't need to be repaid. The most common grant students receive is the Pell Grant.
There are other grants available too. For example, some states have lottery and scholarship grants.
Listed below are a few:
- 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 the best information available to you.
Student Loans
A private student loan can cover the cost of mechanic school. Popular student loan programs include the the William D. Ford Federal Direct Loan Program. Both of these loans collect lower-than-average interest rates, but keep in mind, these and other loans must be repaid starting at around 6 months after graduation.
Merit Scholarships
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 a noticeable 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 will be awarded to students pursuing an automotive-themed major.
APSA of Illinois Scholarship: The APSA of Illinois Scholarship Program awards up to six scholarships each academic year.
Automotive Women's Alliance Foundation Scholarship: Scholarships are awarded quarterly by the AWAF to women who have demonstrated a passion for the automotive industry.
Find a local mechanic trade school now. You could be career-ready in as few as 10 months.
Reference:
William D. Ford Federal Direct Student Loan
