subject: Are You Going Back To School? [print this page] Getting into school is tough, but if you been in the working world for a decade or two, it can be even tougher. Most financial aid programs are geared towards helping those fresh out of high school, so it may seem pointless to try for financial aid if you are 40 or beyond.But the fact is that financial aid is still available, you just may have to look a little harder.
Begin with federal grants. If you are accepted into a degree program, or are a returning student in good standing, you can qualify for federal grant money. By filling out the application each year, you will be awarded an amount based on your financial situation and the amount of money left in the fund when you applied. This means that it is in your best interest to apply early, when you are most likely to get your full award.
The key with grants is to get the application in on time. Early applicants tend to get the best awards. This is because while federal grants are based primarily on need, awards are based on money available in the fund. Those who apply early are getting their awards while the fund is still flush with money, while those who wait are sharing the dregs with the other latecomers.
Student loans are, of course, always available, but they differ from grants in that they need to be paid back with interest. Even if you never actually graduate.A better way to make up the balance after grants is to look into scholarships. These are available to people who are a decade or two beyond their high school days, if you know where to look.
It is important to fill out the profile honestly, because the scholarship committee is not going to take the word of the profile alone. If you say your grandparents came from a certain town in Italy or that you belong to a local civic group, you will be required to back that up before you can be considered for an award.But if you are accurate, you can be matched up with multiple programs, many of which may help you pay for college.
