Special breaks for adult studentsBy
Melody Warnick • Bankrate.com
For the 40 percent of college students nationwide
who are over 25, being older and wiser has its perks -- like the
fact that you probably already know what you want to do with your
life. And, you can get into off-campus bars with your real ID.
Financially, going back for your degree can put a
real squeeze on your family's budget, but when it comes to handling
money, you still have a leg up on all the 18-year-olds. Here's how
to get the best deal on your degree:
Opt for aid. According to the government,
you're officially independent if you're over 24. That's a good thing,
since your parents' assets won't hamper your ability to qualify
for grants or loans. Your own assets will matter, however, so if
yours are significant, consider using your savings to pay off your
credit card balance or your car loan before you fill out your FAFSA,
the Free Application for Federal Student Aid. Also, if your money
situation will change drastically when you go back to school --
if you're leaving your job to pursue your degree full time, for
instance -- ask your financial aid officer about filing a revision
request form for your FAFSA after the semester starts, says Charlene
H. Harrison, director of the Center
for Adult Learner Services at Pennsylvania State University
in University Park. You may qualify for more help than you thought
you would.
Get credit where credit is due.
You may not have a degree, but if you've spent 15 years as a bank
teller, your experience counts for academic credit at most universities.
All you have to do to qualify for these "life credits"
is prove that what you've done in the past meets the requirements
for a particular class. It's a win-win for adult students: You get
a headstart on your degree, saving time and tuition, and you aren't
forced to rehash info you already know. But some students don't
take advantage, says Gen Tanabe, co-author of "501 Ways for
Adult Students to Pay for College."
"Getting as much credit as you can for your life experiences
is something that a lot of adult students overlook," Tenabe
says. "I think some adult students think of it as a gimmick,
but it's really not." Most life-credit systems are informal,
so talk to your department chair about your university's get-out-of-class
passes.
Learn from a distance. Hundreds
of universities offer distance-learning programs -- online courses
and, sometimes entire online degrees -- that can be a good option
for returning students. You save the cost and hassle of a commute
to campus, knock down expenses like lattes in the student union,
and often get to complete your homework on your schedule, which
lets you keep pace with your full-time job. Find programs in your
field at Petersons.com.
Find a cheap babysitter.
Babies and business marketing courses don't mix. But financing child
care while you study or go to class can be a pricey proposition.
Help is available through the government's Child
Care Access Means Parents in Schools program, which subsidizes
child care for students through campus-based programs. At the University
of Michigan in Ann Arbor, parents can apply for a grant of up to
$3,550 per semester to cover child care costs. At the University
of Oregon in Eugene, the ASUO Women's Center will reimburse student
moms up to $50 for babysitting while they attend university events.
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