Adult Learners
Borrowing from Start to Finish
The decision to begin or return to school is a moment of possibility and excitement. Students face new career horizons, financial opportunity, and the chance to achieve greater personal fulfillment. Most of all, education provides the potential for these students and their families to accomplish their dream of a better life.
To realize all this potential, most adult learners need to take out loans to finance their education. The federal student loan programs can seem overwhelming—just as students have begun to think about college or career school, deadlines come fast. Facing the demands of everyday life while tackling the aid process can be challenging.
Below is a step-by-step explanation of the way federal loans work—and how to counsel students on borrowing responsibly and having a positive financial aid experience.
The information is divided into the stages of the borrowing process:
- researching financial aid options
- applying for financial aid
- living on a student budget
- entering repayment
The Loan Application Timeline lists important dates for those counseling adult learners who are applying for financial aid and provides a printable checklist to give to potential students.
What Adult Learners Need to Know addresses the unique needs and options of this growing segment of the student population, such as how loans can help them meet their expenses, how credit and previous loan history play a role in borrowing, the benefits of enrolling in school part time versus more or less, and how family responsibilities figure into their decisions.
When Loans Are in Trouble explains how borrowers can change their payment schedules and protect their credit when facing financial difficulties. It provides information about deferment, forbearance, default, and rehabilitation.
