Federal Financial Aid

Most students get financial assistance through federal programs. Federal financial aid programs typically do not have age restrictions as opposed to other programs that might include such a restriction.

If you are twenty-four years of age or older you are automatically considered independent when applying for federal aid. This gives the non-traditional student, without the means to directly pay for college, an advantage in the federal system.

In the federal system there are many opportunities to pay for college available to to non-traditional students. Some of these opportunities include:

The Federal Pell Grant which is a federal assistance grant that is awarded to students who have not already earned a bachelor's degree. Most Pell Grants are awarded to students with family incomes below $20,000. Awards range from $400 to $4,050.

The Federal Supplement Educational Opportunity Grant (FSEOG) which is available to students with exceptional financial need who have not already earned a bachelor's degree. Awards range from $100 to $4,000 per year.

The National SMART Grant is also available. The National Science and Mathematics Access to Retain Talent (SMART) Grant is available for third- and fourth-year college students maintaining a 3.0 GPA who are eligible for the Pell Grant and who are majoring in physical science, life science, computer science, mathematics, technology, engineering, or in a foreign language deemed critical to national security. This grant awards up to $4,000 per year.

The Perkins Loan is a campus-based loan that is provided from your school from a limited pool of federal government money. The interest rate is fixed at 5%. The amount you receive is determined by your school's financial aid office. This loan is limited to $4,000 per year for undergraduate students, with a cumulative limit of $20,000. If your school participates in the Expanded Learning Option (ELO), the annual limit is raised by $1,000 and the cumulative limit is raised by $5,000.

The Stafford Loan is provided to you either through a private lender (Federal Family Education Loan Program, or FFELP) or directly to you from the U.S. government (Federal Direct Student Loan Program, or FDSLP). Stafford Loans are either subsidized, meaning the government pays the interest while you're in school, or unsubsidized, in which you are responsible for paying the interest.

The Federal Work-Study Program provides jobs to undergraduate and graduate students with financial need, allowing them to earn money to help them pay for education-related expenses.

The Free Application for Federal Student Aid (FAFSA) is used by schools to determine eligibility for federal financial aid. However, if you are a non-traditional student leaving a job to return to school it is important to contact your school’s financial aid office and explain your situation. In doing so you should ask to have your income adjusted from the prior tax year. FASFA uses your prior year tax filing as a basis to qualify for aid. By getting your income adjusted, a more accurate picture of your financial standing should help qualify you for more aid.

Scholarships

Non-traditional students should focus on scholarships without age restrictions. Scholarships that use community service or work experience as criteria for awards are also a good opportunity for non-traditional students. There are many scholarship search sites devoted to helping you find a scholarship that fits you. In addition, many school's have scholarship available. Just call or visit your school's financial aid office to find out what is available.

College Sponsored Aid

Many colleges offer a variety of school sponsored aid and have exceptions to school aid requirements for adults returning to school. Again, in researching these opportunities you should contact your colleges financial aid office.

Employer Tuition Assistance

If you are currently employed, you can explore the opportunities your employer may offer. Many large employers offer some type of tuition assistance. Many of these programs usually are facilitated via reimbursement. Some restrictions may include minimum grade achievement or only taking courses directly related to your position with the company.

Senior Citizens

Many states offer free tuition or reduced tuition to seniors who attend in-state public colleges or community colleges.

Retraining Grants

The Federal Government awards a number of grants to community colleges to start retraining programs that help adults learn new career skills. You should check for opportunities available within your own state. Here is a good resource to get you started.