The school receives income to offset its expenses from a number of sources. The state and federal government both provide higher education with funding from the taxes paid by constituents. This government funding, in combination with the tuition paid by students covers the day-to-day running cost of a vocational school. Private contributions are often made to support the purchasing of specialized equipment, or funding building.
The school pays for many of the specific expenses related to running a vocational school. Personal costs include contracting and paying the salaries of instructors and support staff. The school also purchases basic supplies like copy paper, classroom and lab computers, bathroom supplies, books for the library and others. The school pays out some of its funding in the form of scholarships for qualifying students. They pay for utilities at the school buildings including water, sewer, electricity and trash disposal expenses. The school also finances capital expenses including building and land costs, classroom furniture, and school vehicle purchase and maintenance.
Students can receive specialized income while attending school, designed to help cover the cost of vocational training. Sources of income include student loans, grants, and scholarships. These can come from the school, the government or personal donors.
The most obvious cost of attending vocational school is tuition. The rate of tuition is set at the beginning of each school year by the governing institution. Some other fees may be applied by the institution in addition to tuition including technology fees, printing fees, graduation fees, yearbook fees and others. Books, required equipment and laptops are sometimes provided as part of this tuition fee and must sometimes be purchased separately, depending on the policies of the individual institution. Some programs require the purchase of a uniform to be worn while taking classes. Other expenses include housing while in school, transportation to and from school, and study and note-taking supplies.
Cost analysts refer to other, non-financial, costs related to attending college. The largest non-financial cost of attending a vocational school is the time that is invested in the training program. Students will spend anywhere from six months to two years training in the field of their choice. Other non-financial costs include an increase in stress, loss of sleep, social implications and employment changes.