The prospect of trying to pay for college is a daunting one no matter who you are or what your age may be. But when you’re a non-traditional student, the challenge can be especially formidable. The good news is that there are lots of ways to get your education without breaking the bank. It just takes a little strategy and a lot of commitment.
Take a Test Drive
When you’re a non-traditional student, odds are you have a lot of responsibilities a recent high school graduate does not. You probably have a job, a home and a family. You’ve assuredly got bills to pay and, like so many of us, you may have a less-than-perfect credit history.
So with all those considerations in mind, you might not be ready to leap head-long into another major financial obligation. Instead, consider starting slowly, especially if you’re still feeling a bit unsure about your decision.
Starting with just one or two classes will be much less of a financial commitment at the beginning and can help you get a taste of college life. Those first couple of classes will enable you to see whether continuing on to your degree or certification is right for you at this time.
Plus, if you’re working and managing a family, beginning slowly will make it easier for you to figure out how to manage your time effectively, especially if reducing your working hours isn’t a financially viable option. Starting off slowly is going to decrease the odds that you might have to repeat — and pay for — classes because you’ve taken on too much too soon.
Get Credit for What You Know
While there may be certain challenges to returning to school later in life, there are also many, many advantages. The biggest advantage, perhaps, is that you’re likely more knowledgeable and a lot more experienced than your average freshman.
This means you should get credit, literally, for what you know. So reach out to your school counselor or program administrator to see what options are available to you. Depending on your particular school and field of study, you may well qualify for learning credits from your work-training and experience, from military training, and even from courses or certification programs you may have taken previously.
Even if you haven’t taken specific training courses, you might have picked up some skills over the years that would allow you to test out of basic courses. CLEP and other advanced placement tests, for example, can give you the opportunity to skip some core courses and move on to more advanced ones specific to your program.
The more course credit you can earn from the skills you already possess, the faster you’ll complete your degree — and that means less tuition you’ll have to pay!
Go Digital
Whether you’re preparing to return to college after a long hiatus or you’re planning your first foray into college life, you might think that starting the process with online courses is just a bit too unfamiliar for comfort. But the truth is that online courses are a terrific way to earn college credits while saving money.
Online courses tend to be less expensive than traditional on-campus courses, often allowing you to pay a reduced flat fee per course. Another benefit of online courses is that many operate on an accelerated schedule, meaning that you can acquire a significant number of credits in a relatively short period of time.
However, you should not expect online courses to be the mirror image of on-campus courses. Because of the shortened timelines of many online courses, it’s especially important to manage your time wisely and take care not to overextend yourself. Again, it’s important to start out slowly, limiting yourself to no more than one or two online courses at a time, especially at the beginning.
Grants, Tuition Reimbursement, and Other Funding Sources
In addition to starting off judiciously, testing the waters and preparing yourself for academic and financial success as you pursue your degree, it’s also vital that you explore the many funding resources that may be available to you.
There are two great places to start. The first is with your employer. Many companies offer partial or even full tuition reimbursement for full-time employees pursuing degrees related to their work. Some businesses even offer these opportunities to part-time workers as well. So reach out to your employer or human resources manager to see what education benefits your employer offers.
Your employer isn’t the only source to turn for school funding, however. Depending on your personal situation, you may qualify for scholarships and grants, such as Pell Grants. Certain programs, likewise, may offer specialized grants and scholarships to help fill the gap in high-demand fields, such as healthcare or STEM. Best of all, these funds won’t need to be paid back, even if you end up landing that lucrative dream job after graduation!
Biting the Bullet
If you’ve researched all the options and you’re still not quite able to cover tuition on your own, then you might need to bite the bullet and take out a student loan. Before making this decision, though, it’s important to keep a few things in mind.
First, not all student loans are created equal. Federal loans, in general, will have lower interest rates and more manageable repayment options than most private loans will offer. Best of all, you may be entitled to full or partial loan forgiveness in exchange for professional service after college.
If federal loans are not an option, you might consider private loans. However, these can be challenging to secure unless you have a strong credit history or someone willing to cosign for you.
Whether you choose to take out a federal or a private loan, however, it’s imperative that you plan ahead for repayment. Be realistic about the amount of debt you can afford, even after you have your degree in hand. Above all, work with your college’s financial aid counselor to help you understand the job market and average income for your major. This will enable you to create a viable action plan that protects the financial future your degree is meant to provide!
The Takeaway
Going off to college is at once exciting and unnerving, especially when you are a non-traditional student with responsibilities of your own. Paying for college is perhaps the greatest challenge new students face, but the good news is that you have many options. Between grants, tuition reimbursement, learning credits, and low-interest loans, it’s possible to create a financial aid package that allows you to pursue your dreams of higher education without breaking the bank.
