Pell Grants, while not particular to any state, are open to students for both academic and vocational eduction. They are among the best known funding sources for training and are the cornerstone of federal financial aid. The maximum Pell Grant in 2009-2010 is $5,350, depending on the program, the tuition and the estimated family contribution (EFC). The EFC is a measurement of how much you and your family will be expected to contribute to the cost of becoming a barber. The less you can afford to pay, the more Pell Grant money you will likely be qualified to receive. Barbering is an accepted vocation with accredited institutions.
The American Asssociation of Cosmetology Schools (AACS) partners with industry sponsors to offer what they call ACE scholarships and grants to potential cosmetology and barbering students on a competitive basis. The application is a simple form and available online. (See Resources.)
This program is one of the most uniquely structured grant programs that requires you to eventually pay the costs back. In short, the company evaluates your risk assessment and either vouches for you or does not vouch for you based on a "Credit and Risk Assessment Model." It amounts to what a credit score might look like in the real world. It provides the school with a clear picture of the likelihood of your marketability and likelihood to pay back the tuition. The same would apply if any loans are involved. The program also gives endowment fund managers cash flow projections and expected returns to protect their investment in students becoming a barber.