Finding Money for College
How Adult Students Can Finance Their Education
Many adult students face enormous financial difficulties when they decide to go back to school. Here are a few tips to ease the burden.
Going back to college as an adult has always been a challenge. Lots of adult students worry about finding time for a full-scale degree program. Many more are concerned about the high ticket price of a college education, especially on top of other bills.
There’s certainly no doubt that college is expensive. This, by itself, is one of the single most daunting aspects of returning to school. But it's important to realize that there is help available to you, if you're set on achieving your dream.
If you work full-time, get in touch with your employer’s human resources office and ask about tuition reimbursement. More and more companies are offering this as a benefit to their full-time staff. Depending on the company you work for and the degree program you choose, you could end up with some or all of your tuition and book costs refunded to you. Some companies are now even offering pre-payment for courses directly related to your job, so be sure to ask about all the options available to you.
If your employer is providing tuition reimbursement but getting the cash upfront is a problem, talk to the admissions representative at your college. Some schools, like Goldey-Beacom College in Wilmington, DE, will postpone your payment date until the end of the semester if you provide them with proof that your employer will be footing the bill.
Try to take as many classes as possible at a community or junior college. These courses tend to be inexpensive—in my area, the community college charges $90 per credit hour. Compare that to the whopping $306 that the local university charges! The instruction you receive is often just as good, and in many cases, you can later transfer the credits you earn to a larger university. Be sure to check with both the community college and the university you wish to attend, though, to make sure that the credits will transfer.
Don’t forget to fill out your FAFSA each year. In addition to student loans, you may also be eligible for certain scholarships or grants, which can pay for books, supplies, and sometimes even living expenses as well as tuition. Inquire with the financial aid office at your school, and don’t be afraid to scour the Internet for scholarship opportunities. Many scholarships are geared at entering freshmen, yes, but there are awards available solely for adult learners. www.fastweb.com is a good starting place.
