Three Things You Can Do to Pay for Your Cosmetology Instructor Training
If you love the world of cosmetology and want to share your enthusiasm with other potential cosmetologists, one career path to explore is becoming a cosmetology instructor through teacher training for cosmetology. As a cosmetology instructor you can pass on your wealth of knowledge to new cosmetologists using proper teaching methods. However, for some would-be teachers, the cost of furthering their education is a deterrent. Don't let money stand between you and a career that you love; instead, check out these tips for paying for your cosmetology instructor training.
1. Explore Federal Sources of Aid
As long as you attend an accredited institution, cosmetology training school is eligible for federal sources of financial aid, including loans (aid that you have to pay back) and grants (aid that you do not have to pay back). It is advisable to take out federal loans rather than private loans due to the attractive interest rates and low fees.
To see what kind of federal aid you qualify for, you need to fill out the free application for federal student aid (FAFSA). The FAFSA uses information about your finances, income, and household to award need-based financial aid. Make sure to fill out the FAFSA as early as possible, as many sources of aid are offered on a first-come, first-served basis. Check with your school concerning FAFSA deadlines and when you can submit the FAFSA.
When taking out student loans, make sure you understand what your payments will be upon graduation. There may be ways to decrease the amount of loans that you have to take out, such as taking an extra course each semester or living off campus.
2. Apply for Scholarships
Scholarships are available from a multitude of sources, including your school, community, and private sources. Apply for any and all scholarships that you qualify for. Some students make the mistake of ignoring scholarships that are for small amounts, but every little bit adds up.
3. Utilize Tax Credits or Deductions
There are numerous tax credits available that make furthering your education more affordable. Consult with a tax professional to see which ones you are eligible to take. For example, you may have the option of taking a tax deduction for your educational expenses or a tax credit. Run the numbers to see which option is best for your situation.
If you know that you will be receiving a large tax refund thanks to tax credits or deductions, consider adjusting your payroll withholding to put more money in your paycheck each month. It makes little sense to receive a huge tax refund while you borrow money or stress about paying your bills the rest of the year.