Your education experience never has to end. In fact, you can be a student for all of your life if you want to. And just because you are older and going back to school doesn’t mean you can’t receive federal financial assistance. You may be eligible for grants and scholarships for returning students if you are returning to college as an adult. Nontraditional college students, in fact, are eligible for financial help as well as low-interest federal loans. These alternatives may lower the cost of college and minimize the amount of student loan debt you must take on to pay for it.
How To Get A Grant
If you’re considering returning to school, the first step is to fill out the Free Application for Federal Student Aid. This is often known as the FAFSA. To provide you access to federal grants, loans, and work-study programs, the federal government and schools in the United States must examine your FAFSA.
Far too many people think that FAFSA and other grants only apply to younger, college-aged students. But the truth is that federal assistance has no age limitations. An adult student fills out the FAFSA in the same way that a high school senior does. Even if you don’t qualify for grants, you should still apply for federal student loans through the FAFSA. Federal student loans offer lower interest rates and longer payback terms than private student loans, which might help you save money.
The Pell Federal Grant
When it comes to going back to school, you need look at more than simply FAFSA. The Pell Grant, for example, is available to college students of any age who can show financial need.
The amount of the grant is determined by your financial need, the cost of attendance at your selected institution, and whether you attend college part-time or full-time. The highest Pell Grant you could get for the 2020-2021 academic year was $6,345, but the ceiling varies each year.
Federal Supplemental Educational Opportunity Grant
You could be eligible for a federal Supplemental Educational Opportunity Grant, or FSEOG, as well.
FSEOGs, like Pell Grants, do not require repayment. They are, however, only available to students who attend a participating school.
An FSEOG might pay you anywhere from $100 to $4,000 per year, depending on where you attend to school, your financial condition, and other variables. The earlier you apply, the more likely you are to receive the award.
The TEACH Award
If you’re pursuing a degree in teaching or educational administration as an undergraduate, post-baccalaureate, or graduate student, you could be eligible for the federal Teacher Education Assistance for College and Higher Education (TEACH) award.
You can obtain a TEACH award for up to $3,772 if you agree to teach at a low-income school for at least four years.
If you don’t fulfill your service requirement, the government will turn your grant into a student debt that you must repay. As a result, it’s critical to think about whether a TEACH grant is suitable for you.
These are just some of the many federal grants available for students returning to school. Additionally, each state has its own many scholarships which gives new and returning students even more opportunities to continue their schooling career.