Is Financial Aid for Yoga Teacher Training a Possibility?

People who practice yoga enjoy many benefits. Individuals all over the country are taking up yoga to relieve stress, find focus, and tone their muscles. Suddenly yoga studios are popping up everywhere. Unfortunately training to be a yoga instructor is expensive. The high cost is sending potential instructors in search of financial aid for yoga teacher training.

If you want to find grants for yoga teacher training then the first place to look is the Federal Student Aid website. While most people seek out federal financial aid for tuition assistance at colleges and universities, there are yoga training programs that qualify for financial aid for yoga teacher training too.

Federal Student Aid oversees the assistance programs developed under the U.S. Department of Education. Information about loans, grants and work-study programs is available at the website. In order to find out which programs you qualify for you need to first fill out the Federal Aid for Financial Student Aid (FAFSA) form.  You can find the form at the Federal Student Aid website or at financial aid offices.

Once you complete the FAFSA, you can determine whether you are eligible for one of the most popular grants for yoga teacher training, the Pell Grant. The Pell Grant is open to U.S. Citizens who are undergraduates or vocational students at qualifying institutions. You will need to check to see if your yoga training school participates.

Applicants who prove financial need on the FAFSA form can receive up to $5500 per year for tuition with the Pell Grant. Some of the Pell Grant guidelines changed in July 2012. Currently you can receive Pell Grant awards for up to 12 semesters. All federal financial aid awards that you receive can be tracked if you register at www.nslds.ed.gov.

There are restrictions to the Pell Grants program. The following factors will prevent students from eligibility:

• No social security number
• Illegal residency
• Involuntary civil commitment
• History of defaulted loans
• Males not registered with Selective Service

Another option for individuals seeking financial aid for yoga teacher training is the Federal Supplemental Educational Opportunity Grant (FSEOG).  FSEOG is one of the grants for yoga teacher training and serves as a supplement to the Pell Grant. It can provide as much as $4000 for tuition for low-income students. FSEOG eligibility is also based on the FAFSA.

When searching for financial aid for yoga teacher training don’t forget about student loans. The U.S. Department of Education is in charge of the Stafford Loan Program just like the Pell Grants and FSEOG.

Many students will qualify for the student loan program, poor credit shouldn’t even be an obstacle. You will find out whether you qualify by filling out the FAFSA. These loans generally offer a much lower interest rate than a standard bank loan. At the time of writing rates were below 4% typically.

Additionally, students don’t need to make payments on these loans until after they graduate. You can also defer payment in some situations such as continued schooling. Your loan may qualify for forbearance in some cases. See the website for specific guidelines.

If you want to apply for a Stafford Loan so that you can use it for financial aid for yoga teacher training then you need to see if the school you choose is part of the Federal Family Education Loans Program. Again, subsidized Stafford loans are based on financial need that is established on the FAFSA. Applicants must be attending school at least part-time to qualify.

If you don’t qualify for grants for yoga teacher training- or just need additional assistance- you can check with yoga schools to see if they offer a work exchange program. Many yoga schools will let you work in exchange for a tuition discount as they know how difficult it can be to find financial aid for yoga teacher training.

You can also look into tax incentives that help off-set the cost of yoga training. The federal government offers a tuition deduction (maximum $4000) each year for some families. It is only based on qualified education expenses for higher education. Your student loan interest may also be deducted from your taxes if you meet the guidelines. The Hope and Lifetime Learning Credit will allow you to deduct a percentage of tuition and fees if your school is eligible.

If you want to become a yoga teacher then there are financial aid options. Investigate these ideas and check with the yoga training school for more suggestions.