How To Get Student Loans for Electrician School

The job outlook for electricians is positive, with an expected average growth of 11% over the next 10 years, according to the U.S. Bureau of Labor Statistics. If you're trying to figure out how to pay for an electrician certification, you may be surprised to learn you can use federal loans to cover the cost. Your eligibility will depend on the program you enroll in, but this can be a good way to fund your education without taking on a large amount of debt.

Let's look at how electrician training loans work and how you can make sure you're borrowing responsibly.

Current private student loan rates

Can you get student loans for electrician school?

Federal student loans can be used to pay for electrician school, but only if the program meets certain eligibility requirements. The trade school must be accredited and participate in Title IV federal student aid programs.

Many trade schools affiliated with a community college or vocational school are in this category. These schools offer certificate and associate degree programs in fields like HVAC and welding, and are usually eligible for financial aid.

However, not all trade schools meet this criterion. For example, nontraditional programs like bootcamps or online certificate programs that lack accreditation typically don't qualify for federal loans.

Jack Wang, a wealth adviser and college planning strategist with Innovative Advisory Group, says you can usually tell based on whether the school recommends filling out the FAFSA.

“Schools that are not part of the federal student aid system will never tell a student to fill out the FAFSA as it would not be accepted, even if the school itself may have its own form for financial aid,” he explains.

Federal student loans for electrician school

If you're considering electrician school and want to use federal loans to pay for it, the first step is to fill out the Free Application for Federal Student Aid (FAFSA). The information you provide in this form determines whether you qualify for aid, including Direct Subsidized and Unsubsidized Loans and grants.

To qualify for federal aid, you must be a high school graduate enrolled in an eligible trade program, among other basic requirements.

“For nontraditional programs, the FAFSA still works the same as for colleges, assuming the program is approved and accredited, and the student would be attending full-time,” says Wang.

However, it's important to understand the loan limits for subsidized and unsubsidized loans. First-year dependent undergraduate students can borrow up to $5,500 in federal student loans. However, the loan limits may be smaller for students enrolled in trade programs. You can check with your school's financial aid office to find out what you're eligible for.

And even if you qualify for federal aid, it may not cover all of your expenses.

“A common misconception about student loans is that the FAFSA will cover all educational expenses,” says Benjamin Buso, a college planner based in Houston. “The large majority of student aid would come from the institution they are attending.”

He also warned that students should be wary of for-profit trade schools, which tend to be predatory, and opt for lower-cost alternatives offered through community colleges instead.

Private student loans for trade school

If federal loans and grants don't cover the full cost of your electrician program, you can also apply for private student loans. Lenders like Sallie Mae and Ascent offer student loans specifically for trade programs like electrician school. Private lenders may partner with specific schools or boot camps, so it's a good idea to determine if your program is eligible before applying.

Private loans can help fill funding gaps after you've maxed out the amount you can borrow with federal loans. But they tend to be less flexible and don't have the same borrower protections. When comparing private loan options, you'll want to consider the following factors:

• Interest rates: The interest rate you receive determines how much you'll pay in interest over the life of the loan. Check the fixed and variable rates — fixed rates stay the same every month, while variable rates adjust based on market conditions.
• Repayment terms: Consider your repayment terms and how quickly your loan payments will resume once you finish the program. For example, some loans come with a 6-month grace period, while some require immediate loan repayment.
• Cosigner requirements: To qualify for private loans, most borrowers will need to apply with a cosigner who has strong credit. Check to see whether your lender offers a cosigner release option after a certain number of on-time payments.
• Fees: Avoid lenders that charge high origination fees or prepayment penalties.

Other ways to pay for electrician training

Beyond federal and private student loans, there are several alternative ways to pay for electrician training. Many of these can significantly reduce or even eliminate your out-of-pocket costs.

Apprenticeship programs

A registered apprenticeship program is one of the most cost-effective paths to becoming an electrician. These programs combine on-the-job training with classroom instruction, allowing you to earn a paycheck while learning the trade.

Apprenticeships are often sponsored by employers, labor unions, or trade associations, and many cover the full cost of training. In some cases, employers may even pay for books, tools, or licensing exams in exchange for a commitment to work for them after completing the program.

Grants and scholarships

Many local and national organizations offer grants and scholarships for students pursuing skilled trades like electrical work. These may be available through community foundations or trade associations like the National Electrical Contractors Association (NECA).

Additionally, state and local workforce development agencies often can provide funding through programs like the Workforce Innovation and Opportunity Act (WIOA). These funds help individuals retrain for in-demand jobs and may fully cover tuition and books for eligible students.

Payment plans

If you're attending a trade school or community college, ask about in-house payment plans. These allow you to spread tuition payments out over the course of your program, typically without interest. Some schools may also offer discounts for early or full payment, or additional support for students who demonstrate financial need.

Tips for borrowing responsibly for electrician school

If you're considering using student loans to pay for electrical school, here are some tips to reduce your overall borrowing.

1. Only borrow what you need

It's tempting to accept the full loan amount you're offered, but this only increases your long-term debt. Start by estimating your total program costs, including tuition, books, tools, and fees, and only borrow what you actually need. In addition, only apply for loans after taking advantage of any scholarships, grants, or payment plans you qualify for.

2. Consider your future earning potential

Before borrowing, research average starting salaries for electricians in your area, and take the time to learn about opportunities to earn more through licensing and experience. Make sure your expected earnings after graduation can comfortably cover your loan payments and living expenses.

3. Understand your repayment terms

Know when your loan payments will begin and what your monthly payments will look like. Federal loans offer a grace period and income-driven repayment options, while private loans have fewer protections and may require immediate payments. Avoid loans with prepayment penalties or inflexible terms in case your income fluctuates after graduation.

Electrician school costs and job outlook

There are many different paths you can take to become an electrician, and each comes with different costs and benefits:

• Certificate programs: Certificate programs are typically the most affordable and fastest route to becoming an electrician. Depending on the program and location, these programs can cost between $1,000 and $12,000. They often take less than a year to complete and cover fundamental skills like wiring, safety protocols, and electrical codes.
• Associate degrees: Pursuing an associate degree in electrical technology through a community college usually costs up to $12,000 for the entire program. These programs typically take 2 years to complete and include both classroom instruction and hands-on training.
• Apprenticeship programs: Apprenticeships are a cost-effective way to gain practical experience while earning a paycheck. Many programs don't charge tuition, and your only financial responsibility is covering the cost of your books and personal tools. Apprenticeships combine on-the-job training with classroom instruction, making it one of the best ways to become a licensed electrician.

According to the U.S. Bureau of Labor Statistics, the median annual wage for electricians was $62,350 in 2024 ($29.98 per hour). Employment for electricians is expected to grow by 11% between 2023 and 2033, representing faster-than-average growth.

However, your earnings will vary depending on location, experience, and specialization. For instance, electricians working with specialized licenses may command higher salaries. Additionally, union membership can influence your earnings and benefits.