This is episode 26, and today we are talking about How to Get The Most Out of The Workforce Investment Act.
Now you want to get back to schools, and have it paid for. You lost your job and need to retrain. Well the Workforce Investment Act was designed for you. However, to make the most of your aid from this program, it is critical to keep a few things in mind.
1)Focus on degree programs that lead to a specific and direct job – Most of those within a community are already approved and they know the costs of attending. Trying to get a program not already approved into the system can take months, and is a huge hassle. Selecting a known program makes it easier to plan a budget of aid and make the funding stable and predictable.
2) Focus on community colleges over for-profit colleges – When it comes to getting a certificate, or associates in a specific field, like Dental Hygiene, it is tempting to go with the first school with an open slot. The one aspect for-profit colleges have or community colleges, is they have rolling admission. However, the extremely high cost will often make your aid from WIA count for very little in the long run, where WIA could potentially pay most of, or all of a programs cost given the low tuition cost at community colleges.
3) Cut costs anywhere you can – Besides paying tuition, WIA often includes the cost of books, supplies, board certifications, and travel expenses. If you can come in under your budget each semester, the approved amount can carry over into later semesters if needed. It’s flexible, and if you can save money by renting books or splitting the cost with a friend, the saved funds may come in handy down the line.
While WIA is a federally funded program, it’s managed by states and has a limit. The upcoming limit in most states is around $10,000 for any one program over the course of its lifetime. So keep in mind that every dollar counts, so make the most of aid programs like WIA to get out of school debt free!
Have a problem with financial aid or scholarships? go ahead and send JR a tweet @ CollegeCashMan or call him at 831-275-0182. Thanks for listening to JR’s Two Minute Financial Aid Tips at http://www.collegemoneyman.com
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