What Adult Learners Need to Know
The application process is an exciting time in the lives of adult learners: They stand on the threshold of a major change that can transform their situation and prospects.
Unlike some other student populations, adult learners have already established a grown-up identity, often with children, full-time jobs, and dependent parents in the mix. As a result, these students have unique needs when it comes to furthering their educations.
- – Tuition Reimbursement
- – Half Time versus More or Less
- – Credit Standing and Financial Aid
- – Encouragement and Support
Tuition Reimbursement
It’s important to help these students realize all of their financial aid options. One consideration is tuition reimbursement from employers.
Students should ask employers:
- – Whether or not they offer tuition reimbursement.
- – What amount of reimbursement is offered—is there a limit per year, or per employee?
- – Do the courses need to be directly related to the employee’s job to be eligible for reimbursement? If so, is it possible for the student to transfer to an area of the company that’s more relevant to his or her area of study? (Students may also consider moving to a different company in a more relevant field.)
- – Does the tuition reimbursement benefit become active after the employee has been with the company for a certain number of years or months?
- – Does the employee need to be working full time to receive the benefit, or can he or she be working part time?
Students should also keep in mind that they will likely need to pay their tuition bill first and then receive any reimbursement from their employer after they have completed the course.
Half Time versus More or Less
Another question adult learners must tackle is whether to enroll in school half time, full time, or for just a course or so at a time (less than half time).
When students are enrolled at least half time, they are eligible for federal financial aid toward college costs. Also, attending school half time may allow adult learners to work full time or part time in addition to school, making their financial situation easier.
Attending school full time can be tricky, since it makes it difficult for students to work or support any dependents. Students in this situation may need to take on a large debt burden in the form of student loans and credit card charges, which can set them up for a potentially stressful repayment period when school has finished. This is only wise if the degree the student will receive has a very high likelihood of producing a lucrative salary. Even in those cases, it’s best for students to consult with a community outreach staff member and calculate their repayment burden before choosing to pursue this strategy.
The last option, choosing to take a class load that qualifies as less than half time, has hidden risks. On the positive side, this strategy will likely allow adult learners to continue working full time, which can be positive for their financial situation. However, students enrolled less than half time are not eligible for federal student aid. For instance, the average graduate school course costs $3,500, and if students do not have enough money to pay for the classes out of pocket, or if their employers do not offer tuition reimbursement, they may have trouble handling this cost.
Credit Standing and Financial Aid
Borrowing federal student loans serves as an excellent way for students to build up their credit. For adult learners, it also provides a good opportunity to check their credit score. The site annualcreditreport.com allows students to download their credit reports annually at no cost. The site was established to comply with the Fair Credit Reporting Act (FCRA), which requires each of the nationwide consumer reporting companies—Equifax, Experian, and TransUnion—to provide consumers with a free copy of their credit reports, upon request, once every 12 months. It’s important to note that one kind of loan, the Grad PLUS loan, may turn down borrowers due to troubled credit.
Students should also go to the National Student Loan Data System to review the status of any previous student loans they may have borrowed. If students happen to have any loans in default, those loans will need to be rehabilitated before the students may borrow again.
Encouragement and Support
Adult learners may not enter school with the traditional amount of fanfare. But their journey toward an educated life is admirable and worthy of recognition.
It’s important for these students to form connections with other adult learners who can understand the special challenges they face. The most successful students in this group may be those who band together to form study groups, carpool, and share childcare and eldercare duties.
The key is for these adult learners to realize they have support as they become students and borrowers. And ASA is here to help you help them!
