Making Graduate Certificate affordable — Scholarships and federal Aid
Graduate Certificate Programs are a great option these days. They are short, streamlined and give you the advanced skills necessary in your field of interest. For some professionals, obtaining blended knowledge at such a short period of time is a boon. For example, teachers interested in developing a program for gifted children can obtain a certificate degree in Autism. A Certificate Program is also guaranteed to make your resume more attractive to employers increasing your competitive advantage in the job market.
In most cases, a Graduate Certificate Program shouldn’t be expensive. However, for some, it may be a burden on the budget. If you are planning on obtaining a graduate certificate be assured that you can get aid from quite a number of sources. You can decide on what best fits you from the options below.
Graduate Certificate Program and Federal Financial Aid
A Federal Financial Aid is one of those options that give you aid for a graduate certificate. You have to be enrolled in a US Department of Education Approved Certificate Program to qualify. The list for approved graduate certificate programs can be found here. Some of the graduate certificate programs even have a budget for books and supplies.
Examples of some certificate programs that qualify for aid
- Business Specialist
- Health Informatics
- Distance Learning and Administration: Tuition $5,391.00 Books and Supplies $820.00
This Aid gives you up to $20,500 in Federal Direct Stafford Loan. It is a requirement that the certificate should get you employment. If you are pursuing a degree that gives you skills needed for a job you already have you are not qualified.
Graduate Certificate Programs Get Federal Tax Credits
Some tax credits can help you with funds for your graduate certificate program depending on your eligibility. Independent students and parents of dependent students may be eligible for at least two tax credits:
American Opportunity Tax Credit
The American opportunity tax credit (AOTC) is a credit that can be given to qualified education expenses paid to an eligible student for the first four years of higher education. Graduate certificate programs are eligible since any educational credential is recognized. The maximum annual credit is $2,500 per eligible student.
for more information: American Opportunity Tax Credit
Lifetime Learning Credit
If you want to go back to school or are currently a college student, or someone aiming for a graduate degree you can get this tax credit. The credit gives you 20% of the first $10,000 you spend on education. The highest credit that can be granted is $2,000. If you are enrolled in a course you can already receive the credit so it is perfect for people earning a graduate certificate degree.
for more information: Lifetime Learning Credit
Certificate Programs for the Military
Military Tuition Assistance is a benefit paid to servicemen. The benefit covers 100% for the tuition expenses of its members. The great thing is Tuition Assistance is not a loan but should be viewed as money you have earned just like your base pay.
The tuition assistance covers the tuition needs of the military in the following service:
· Air Force
· Army
· Navy
· Marines
· Coast Guard
· National Guard
· Reserve
for more information: military tuition assistance
Graduate Certificate Scholarships in Universities
Some universities offer merit-based scholarships and that includes aid for graduate certificate programs. A scholarship is one of the most useful options since you don’t have to repay the amount granted.
These are some schools that offer financial aid for graduate certificate programs:
- New Jersey Institute of Technology
- East Carolina University
- Wayne State University
- The University of Memphis
- University of South Florida
Graduate Certificate Programs for Employees
If you are employed, you can get up to $5,250 in employer-provided tuition assistance, also known as employer educational assistance or employer tuition reimbursement according to the IRS. This amount can be excluded from your income each year.
You should check what benefits your current employer gives for tuition reimbursement. An important thing to ask would be how long you would be required to stay with the company after getting tuition assistance. Most companies encourage employees to take advanced degrees including graduate certificate programs to have a more skilled and knowledgeable workforce.
for more information: Tax Benefits for Education
Private Loans for Certificate Program
You must be prepared for high-interest rates if you are considering this option. You can only obtain a loan based on your credit standing and other honor specific lender rules.
Some institutions where you can get private loans:
Conclusion
You have options when you want to get funding for a graduate certificate program. Providing for your tuition wouldn’t have to be a burden on the budget once you get or qualify for these aids. Everyone yearns for career advancement and you can increase your likelihood for better job opportunities by getting advanced training. A graduate certificate program makes you knowledgeable of the most recent research, processes, and findings in your field which you can apply in your work setting.
