Paying for College While Working Full-Time

Thinking of going to college as an older adult?

More and more students over the age of 25 are returning to college. In fact, they make up nearly half the current college student population. However, this decision often requires overcoming obstacles related to time, balancing family commitments, and of course money.

So how do you make your dream of receiving a college education come true without putting your financial future at risk?

1. Ask plenty of questions of the institution in which you are hoping to enroll. Contact their Financial Aid Office, discuss your concerns, and learn about the various ways you can responsibly finance your education through loans, grants, and scholarships.

For prospective DBU students, financial aid information can be found on the Office of Financial Aid's website, but if you wish to speak to someone about your questions or concerns, do not hesitate to call (214) 333-5363 or email finaid@dbu.edu.

2. Talk with your employer or the director of your HR department to see if your organization provides education benefits for employees going back to college to improve their skills and advance in the workplace. If furthering your education will benefit the company you work for, they may be open to covering at least part of your expenses.
3. Take the time to search the web for scholarships that apply to your background or career field – this is money you can use for college that you won't need to pay back.
4. As an independent adult, you are also eligible to receive special tax breaks for being enrolled in college, such as the American Opportunity Tax Credit and the Lifetime Learning Credit. Visit irs.gov and/or www.hrblock.com to learn more about the important eligibility requirements and deadlines for each of these educational tax benefits.
5. Learn more about federal and private loans at StudentAid.gov/federal-vs-private. The Free Application for Federal Student Aid is available to college students of all ages and can be filled out at www.fafsa.gov. As an older student, you are now considered an independent, and if you are not married, you may qualify for even more aid depending upon your current income status. Don't be afraid of taking out loans. Your education is a worthy investment, but first, learn and ask about the scholarships and federal and state-based grants you may be eligible to receive.                                                                       

Additional Resources

Below are a few other helpful websites that provide more information about financing the costs of a college education:

• FinAid!
  • Offers information about student aid on the web.
  • Website: www.finaid.org
• Fastweb
  
  • A free scholarship search engine that allows students to set up a profile and then matches them with available aid.
  • Website: www.fastweb.com
• Grants and Scholarships
  • The Federal Student Aid website provides information on grants and scholarships, explaining the difference and availability as well as answering financial aid questions.
  • Website: https://studentaid.gov/understand-aid/types/scholarships
• CollegeBoard
  • Locates
    • Scholarships
    • Loans
    • Internships
    • Other financial aid programs from non-college sources that match your education level, talents, and background.
  • Website: bigfuture.collegeboard.org/scholarship-search
• Hispanic Scholarship Fund
  • Largest Hispanic scholarship-granting organization in the nation.
  • Website: https://www.hsf.net/
• Aid for Military Families
  • The Federal Student Aid website provides information about grants and loan repayment options for members of the U.S. armed forces or individuals who have a family member in the service.
  • Website: https://studentaid.gov/understand-aid/types/military

Above all, don't do it alone.

Ask questions of your institution and let them guide you through each step of the process. They are there to serve you and help you confidently and responsibly accomplish your dream of achieving or furthering your college education!