Before we continue talking about grants for real estate school, it is probably best to talk a little about the types of financial aid available in most countries. Financial aid has many forms, including low-interest loan, scholarships, and grants.
As you must have already known, getting a student loan means that you’re prepared to repay the money that has been given to you in a period of time. Since the student will be paying the money with an interest rate (which in most cases is pretty significant), it is only natural that they will look for other possible financial assistance that has a better offer.
Scholarships and grants can be considered as the better option because these are free money. This means that you won’t have to repay the money back to the lenders. The difference is that the scholarship is based on the student’s merit. Meanwhile, the grant is based on the student’s need and financial condition. However, the competition for both grants and scholarships is quite fierce.
Are There Grants for Real Estate School
Is there any grant or scholarship program for students learning about real estate? You may have already known that in general, the real estate business is having a hard time. But if you insist on getting that training classes here are how you should search for the financial aid to cover the cost of your classes:
Contact Local Brokers
First, look for contact information of your local brokers. If you’re in luck you may be able to find the broker that is willing to cover the cost of your training classes. This takes some time and effort, but it is worth to try.
Get Real Estate Training Class for Free
However, it is much more effective to find the free real estate training classes through your local newspaper. Usually, there are some brokers that directly say that they will provide free training. That said, you should consider this offer as a grant with strings attached. This means that there may be an additional clause, saying that you will have to pay them back unless you can complete at least one sale.
Starting your career in real estate is definitely not an easy task, especially in this kind of economy. There are several additional fees that you have to prepare. In general, it takes around six months before you can start to enjoy your income. Therefore, there are some who prefer to have an additional job while they wait for the income.
Find Information from the University
Another good source of information should come from the university or college you’re enrolled to. Go and visit the financial aid office to look for financial help. Sometimes, depending on your grade and your financial condition, the university is willing to give you a scholarship or at least discount your tuition fees. However, if you are currently a high school student who is currently planning your real estate career, you should ask about the university financial aid programs first before you submit your enrollment application.
Do Quick Search on Google
Last but not least, looking for your state’s real estate foundation may come handy too. Just use Google and make a quick search. Some of the past organizations that provide grants for real estate school students are the International Real Estate Federation, National Association of Realtors, The Real Estate Institute, Real Estate Educational Foundation, and Matthew A. Martinez Real Estate Fund.
I hope by reading this post you can learn about the options available if you are looking for financial aid for real estate schools.
2024 Grants for Real Estate School
Here are some examples of grants for real estate school to consider:
Real Estate Education Grants by Foundation for California Community Colleges
These grants support projects that improve and develop real estate education. The community colleges have usually received these grants since 1975. The purpose is to support the California Community Colleges Real Estate Education Center (Center).
For the past five years and currently, Saddleback College has received the grant and hosted the Center. The Center helps ensure high-quality real estate education in California’s community colleges by working with instructors and supporting students interested in real estate and appraisal careers.
The Real Estate Education Grant Program allows applicants to suggest projects that help improve real estate skills through courses offered by California community colleges. Saddleback College received a grant in 2021. The goal is to support the California Community Colleges Real Estate Education Center.
2024 Supporting Women of Real Estate Grant
The National Association of REALTORS® (NAR) and the Women’s Council of REALTORS® are teaming up with local and state REALTOR® associations to organize one-day events focused on women in real estate.
This grant gives local and state REALTOR® groups a chance to get money to create new and exciting programs that help women succeed in the real estate business. The goal is to encourage women to take on more leadership roles in real estate. The Center for REALTOR® Development (CRD), part of NAR, funds the program and focuses on lifelong learning and career growth for real estate professionals.
Five grants of $2,000 each will be given to REALTOR® associations that meet the requirements listed in the application.
Important Dates:
- March 1, 2024: Application period opens
- June 14, 2024 (extended to June 21, 2024): Application deadline
- June 30, 2024: Grant winners announced and funds distributed
- December 15, 2024: Events must be held, and reports submitted to the Women’s Council
To qualify for the grant, your proposal must:
- Include a program that teaches about helping women in real estate, such as showcasing successful women, offering leadership training, and covering topics like negotiations and marketing.
- Be organized by the local or state REALTOR® association. Working with other local or state Women’s Council of REALTORS® networks or related real estate organizations is encouraged but not required.
- Feature a professional networking activity that helps people connect and participate, like speed networking (but not just a casual networking reception).
- Clearly describe the program, including goals, agenda, timeline, budget, number of attendees, and speakers’ names and bios.
- Be a 4-hour event, either virtual or in-person.
- Not include fundraising events, awards programs, fashion shows, or basic education classes.
- Be inclusive of men and all supporters of women in real estate.
- Give special consideration to diversity, equity, and inclusion in the program
References:
- Student financial aid in the United States – https://en.wikipedia.org/wiki/Student_financial_aid_in_the_United_States
- Image: careeracademyofrealestate.com
