How does one find funding for life coach training? This is a question a subscriber recently sent me. My answer is below:
Thanks for sending in your question. As you have probably discovered in your research – life coach training is an investment! In a previous article on life coach training I shared that tuition fees for accredited coach training programs range from range from $3,900 to $10,000+ US.
I came up with nine ways you could find funding or ways to pay for coach training.
- Some coach training programs have affiliations with loan agencies. At least three of the accredited coach training programs have partnered with SLM Financial to offer student loans for students in certain US states. In the UK there are government backed interest free career development loans.
- Some companies have paid for coach training for their employees. Find out if the company you work for pays for personal or professional development courses.
- Many coach training schools have payment plans. You may end up paying more in the end, due to a financing charge, but it will allow you to break down the payment into manageable chunks. If the fees are too high, call and see if you can create a customized plan that you can make work.
- Instead of taking and paying for the entire program at once, take your training on a per course basis and pay as you go. It’s usually cheaper to buy the package but if you need to break up the cost, this may work for you.
- More and more colleges and universities offer coach training, so you may have access to loans and/or grants that are available to all students.
- Apply for scholarships, if available. If you can’t find note of it on a website, contact them and find out.
- Coach as you train and pay for your training. You need to put the skills you learn into action so sell your services as a coach while you’re in training. If you’re not comfortable charging the ‘going rate’ – charge less while you’re in training. As your competence and confidence increase, so can your fees. Remember – clients pay for results. You may already know how to support people to get results in a certain area of expertise.
- As with anything we really want – find a way. Is there something you can sell? Can you make some money on the side with a part-time venture or hobby? Can you hold a fund-raising event?
- Can your new coaching skills result in a promotion (with more pay) at work? Even if your company doesn’t pay for your training, the increase in pay may.
Before investing in a coach training program, take the time to research the profession and see if it’s a fit for you. Once you know that, then take the time to research the training programs to find the right one for your learning style and goals.
Have you found a way to fund your coach training? Let us know by leaving a comment below.