Student loans, either federal or private, are available to cover the cost of tuition. You obtain the loan, but do not start repaying it back until you graduate and find a job. Some of these include the William B. Ford Direct Loan program from the federal government. To start the process with the federal government, you have to fill out an application called the Free Application for Federal Student Aid (FAFSA). Other loans are private loans. These are administered by private organizations that offer student loans. All major trade schools have financial aid departments that assist you with the paperwork. For example, the Midwest Technical Institute has a financial aid department that will arrange loans for you.
The federal government offers grants to low-income individuals, administered through the U.S. Department of Education. These are gifts, and do not have to be repaid. The application process is lengthy, but you have to undertake the steps in order to obtain a grant. Some of the items asked for are your income, family status and costs of living. Each application is evaluated on a case-by-case basis, and money is granted based upon your criteria. Again, the financial aid office of the school you are attending, or planning to attend, can help you with the paperwork.
You may combine funds. You may obtain a grant, but if the grant is insufficient to cover tuition, apply for a loan as well to cover the remainder. Loans are either subsidized or unsubsidized. In a subsidized loan, the federal government pays the interest on the loan while you are in school. In an unsubsidized loan, the interest accrues, and is tacked on to the final loan cost.
Your state may offer some tuition assistance in the form of state grants or loans. To find out, contact your state's department of education. Inquire what tuition assistance is available for schooling. For example, the State of California looks at your federal FAFSA application, and may award you state grant money for education.
To begin the process, you must obtain information on funding sources. First, inquire at the trade school. All federally recognized schools work with the U.S. Department of Education and private student loan companies. You will need your federal tax return for the previous year to fill out the income section.