One of the most daunting aspects of returning to college is figuring out how to pay for it. Not only the actual money part, but knowing what to do, the process, all the paperwork—it can feel overwhelming!
We’re here to help you navigate the process. From identifying opportunities that fit you best to bringing to light opportunities you may not have known about, we’ve put together this resource to help clarify financial aid and all that goes with it.
For most students, financial aid—funding for tuition, books, fees, supplies, and more—is a necessary aspect of going back to school and can take several forms.
Scholarships are financial gifts—need or merit based—that are awarded to students who meet requirements set by the sponsoring party or organization. Full scholarships cover all of a student’s expenses, while partial scholarships, which are more common, pay a portion of the costs.
Search for scholarships using search terms such as “adult learner” or “nontraditional” to narrow down and filter scholarship opportunities that are most relevant to you.
Grants are need-based financial programs that provide free money to students. They can come from both government and nongovernment sources.
Grants include Pell Grants and Federal Supplemental Educational Opportunity Grants (FSEOG). Learn more at StudentAid.gov.
Qualifying students who demonstrate financial need and attend a school that participates in the federal work-study program can work part-time jobs to help pay for their schooling. The federal work study program encourages work that’s related to your field of study.
Loans offered by the federal government that can be used to pay for college expenses. This is borrowed money, so you’ll have to pay it back with interest, but there are a variety of repayment programs in place. Additionally, there are loans from private sources, but they don’t usually offer the same features and protections as federal loans.
There are a variety of financial aid options available. But how do you go about receiving aid?
You’ve decided to go back to school. You’re considering your many options. But how to pay for it? Let’s take it step by step.
The very first thing you should do is complete the Free Application for Federal Student Aid, commonly known as the FAFSA. This will help you determine your eligibility for financial aid from the federal government, many state governments, and most colleges. Learn more here.
You’ve submitted the FAFSA, congrats! Once you receive your Student Aid Report, you can start making decisions about the types of financial aid you want to receive. This is the recommended order of preference for choosing aid:
Tuition reimbursement is a benefit that many companies offer their employees. This is one of the best benefits a company can offer because it gives you the chance to receive a steady paycheck while working towards a solid education—and accruing less debt!
For many people, working out the details of financial aid can be a real barrier in progress. There’s good news, though! It’s worth the effort—the peace of mind alone can do wonders. Plus, you get to go back to school!
Through everything, just remember: You’re not alone. Millions have gone through the same thing you’re experiencing right now, and out of those millions, we’ve helped tens of thousands with scenarios just like this. Lean on your relationships, and lean on us. We’ve got you.