When it comes to funding your pharmacy tech certification online, there are many options available to you. The most common type of funding most people consider is a loan from a bank or a financial institution. But even though this is usually the quickest and most convenient way of funding your education, there are several other options available which might be a better overall choice.
The Drawbacks to a Loan
The biggest disadvantage to getting a loan is that you must pay it back afterwards with a lot of interest. In most cases, the bank will defer payment requirements on your loan until you have completed your education and are already working as a pharmaceutical technician in a health care facility. At this point, they will deduct a part of your salary every month over a pre-agreed period of time in which you will repay your loan with interest.
While it can be convenient to get a loan, a lot of people end up in tens of thousands of dollars’ worth of debt once they have finished their education. An alternative to this situation is to find a bursary, grant, or scholarship.
Scholarships, Bursaries and Grants
Many colleges and universities have scholarship and bursary programs in which they fund the entire cost of your education or a part of it. You will need to contact the career guidance counselor at your local institution or the institution you are considering taking your pharmacy tech certification education from. Most of this type of funding will have certain eligibility requirements and you will need to complete some sort of an application process as well.
Another way to get funding for your education is to get a grant. Especially in the health care professions, you may be able to receive complete funding for your pharmacy technician education depending on what programs your local state board of health has available. For instance, they might fund your entire education if you sign a contract agreeing to work in a particular rural area for a period of time (usually 2-5 years) following the completion of your degree and obtaining your license.
Regardless of your current economic situation, you should always investigate the possibility of getting funding for your online pharmacy tech certification. Even if you can afford to pay for your degree, you would still do a lot better to save your money and find funding you are eligible for.