Trade Schools: Separating the good from the bad

Let’s talk about trade schools.  They are big business.  Trade schools receive about $25 billion annually in student loans.  That’s billion, not million.  Not only that, but they get their money up-front.  If the student later withdraws, the school may be required to refund some of the tuition back to the lender.  The school keeps the rest.  On the flip side, the student still has to pay the amount of the loan the school kept.  This gets expensive fast.

Not all trade schools are bad.  How can you figure out if the one you are interested in is good or bad for you?  This will be the subject of my next post, and in later posts I will discuss how you can figure out if you have any recourse if you have already graduated or withdrawn from a trade school and think you were duped.

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