Financial Aid For Massage School Training
Attending a good massage school will not be cheap!
That certainly does not mean that receiving first-rate massage therapy training will not be affordable. Anyone with a desire to begin or continue their education in a chosen field should be prepared to examine and understand the various financial resources that are available. There are a variety of funding options to help you achieve your goal of becoming a massage therapist.
Student Loans
We won’t even attempt to try and fully explain all of the different loan options available through government and private sources. What we can do is identify the key lending programs so you can get the ball rolling.
- Federal Loans – You may be eligible for loan assistance through the federal government. First, you must determine if the massage school you would like to attend is eligible to participate in the federal loan programs. This will require proper accreditation from authorized agencies. Check with your school admissions office to see if the school is eligible.
You will first be required to fill out a Free Application for Federal Student Aid (FAFSA). This will determine your eligibility and the amount of the loans for which you qualify. These loans are available directly to the student and for parents of dependent students. FAFSA will also determine eligibility for other federal grants, work-study and other types of financial aid.
- Alternative Loans – These loans are arranged through private lending institutions. These companies offer special education or career training loan programs. The interest on these loans is typically higher that the federal loans so they should be considered only when you have exhausted all of the federal options.
Scholarships
- As opposed to student loans, scholarships do not have to be repaid. Consequently, they are worth the effort it will require to track down and apply for them. Specific scholarships for massage schools or massage therapy students are rare but that shouldn’t discourage you. Many scholarship programs are available for students based on economic need, ethnic background, academic achievement, career aspirations, hobbies and interests or for a host of other reasons.
You can use a scholarship search program like FastWeb to find scholarships for which you may be eligible.
Veteran’s Benefits
- Those that have served in the U.S. armed forces may qualify for education subsidies from the U.S. Veteran’s Administration. Surprisingly, only about one-third of all veterans use the education benefits available to them. Veterans with an eye on a massage therapy career should contact the VA and explore the possibility of obtaining education funding.
Individual Massage School Programs
- Make sure that you speak to the massage schools you are investigating to see if the school offers any programs that will help fund your training. Some schools offer a payment plan that will allow you to spread your tuition program out over a period of time rather than paying it all up front. Many of these programs are interest free.
- Work-study and part-time job placement may also be available at a massage school.
Most students in a post-secondary school or career training program will assume some level of debt to finance their education. You must decide how much debt you are comfortable with. But with all of the financial aid options available, you should be able to structure a funding package that allows you to pursue your massage therapy goals.
