Aid Is Available for Older Students
May 13, 2009
Earlier this week, we blogged about new financial aid opportunities for unemployed adults returning to college. What we didn't mention were all of the forms of financial aid that adults returning to college can already receive. An article in USA Today discusses a number of these options, but we'd like to highlight a few that may be especially useful to people using the recession as an opportunity to return to school.
Federal grant programs have gotten a boost in recent years, and thanks to changes in the way unemployment is treated, more adults returning to school may find themselves eligible for larger grants sooner. If you worked full-time in 2008 but are attending college full-time in 2009, talk to a financial aid administrator after you've completed the FAFSA. You may qualify for more aid than you're initially awarded.
Older students also qualify for more in federal student loans than traditional undergraduate students. Since adults who have dependents, are married, have served in the military, or are over the age of 24 are considered independent, they are eligible for larger federal Stafford loans. Freshmen alone can borrow up to $9,500 through this program, and amounts increase with grade levels.
Finally, a number of scholarship opportunities are available specifically for adults returning to college. In fact, one of the awards offered by Scholarships.com is available to students over 30. Interested parties can read more about the Resolve to Evolve Scholarship and then conduct a free college scholarship search to see what else is out there.