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How to Receive Financial Aid for Parents Going Back to School

Moneymagpie Team 25th Apr 2023 No Comments

Reading Time: 2 minutes

Going back to school as a parent for pursuing a higher college degree can be quite challenging. You may be concerned about caring for the kids while you are at school or unsure about how you will pay for your course fees.

While these concerns are understandable, there are numerous ways for parents to receive financial aid through scholarships and childcare programs.

This article will help you to utilize all resources available at your disposal for not only becoming an engaging student but an attentive parent as well without getting crushed under the mountain of student debt.

Price shop for an online program

Not all programs, even if they offer the same certification, cost the same. Online schools are more affordable,, but make sure to compare costs before deciding which one to attend.

Academic resources are there to help you in getting a degree that you will need for a higher paying career. Online schooling is a great way to cut tuition costs and an ideal option for those with children.

No matter where you live, you can earn an online engineering degree from UCF, the University of Central Florida, which offers over 100 online programs and is a recognized leader in innovative education technology.

Earning an online bachelor’s or master’s degree studying a new field can enhance your future prospects and provide you with the power to choose career possibilities that will ultimately have a direct impact on personal success.

Grants and scholarships

If you are an adult going back to school, you may be eligible for grants and scholarships which are available for returning students. This in the end will lead to cut costs significantly and reduce your overall student financial loan debt.

As a ‘non-traditional’ student you can also avail of financial aid, low-rate federal grants, loans and work-study programs that will help you on your educational journey. If you are interested in receiving financial aid for your education, this is how to begin:

  • Do a quick web search
  • Fill out and submit your Free Application for Federal Student Aid(FAFSA) form
  • Contact the online school to ask about financial aid
  • Talk to your employer or HR department for incentives for workers seeking to continue their education
  • Look for aid provided by the state

Minimize your debit

If you are unable to fund your entire education, then a loan credit card or some other financial tool might be helpful. To minimize your debit which and restrict the impact on future cash flow, keep the following tips in mind:

  • Borrow only if you must
  • Look for zero interest balance transfer credit cards
  • Look for potential scholarships and grants and federal and state level
  • Leverage student discounts
  • Don’t spend more than you make
  • Use budgeting apps like Clarity Money or Mint to stay on track

Moral of the story

You have worked very hard for your degree, so make sure it starts working for you from now on.

Disclaimer: MoneyMagpie is not a licensed financial advisor and therefore information found here including opinions, commentary, suggestions or strategies are for informational, entertainment or educational purposes only. This should not be considered as financial advice. Anyone thinking of investing should conduct their own due diligence. 

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Jasmine Birtles

Your money-making expert. Financial journalist, TV and radio personality.

Jasmine Birtles

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