It’s true. Students by the thousands are becoming pleasantly surprised by the fact that they may be eligible for the Federal Pell Grant. This type of financial aid is ideal for adults looking to go back to school (even online schools) such as:
- Recently laid off workers
- Single moms
- Those looking for a career change
- Anyone looking to go back to school and increase their earning potential
The Federal Pell Grant is currently an annual award up to $5,730 and is usually given to undergraduate students who have not yet earned a college degree. This grant is awarded to students with financial need and best of all a Federal Pell Grant does not have to be repaid.
Why a College Degree is More Important Than Ever
With the rise of tuition prices over the years, people have debated whether or not a college degree is still worth the cost. Based on evidence provided by the U.S. Department of Labor, the answer is a resounding yes, and it’s not even close. In fact, most adults with a bachelor’s degree earn $23,764 more per year than those with only a high school diploma. That’s over a 70% increase in pay for having a bachelor’s. Furthermore, those with just a high school diploma are almost twice as likely to be unemployed than those with a bachelor’s degree.
All of this supports the fact that the value of a college degree has probably never been greater. If you also consider the financial assistance you may be eligible to receive through the Federal Pell Grant Program, the decision to go back to school should be an easy one.
The Big Question – How Do You Find the Right School, and the Grant Money Available? And What About Online Schools?
One big roadblock many adults face is simple logistics. Adults generally cannot “go away” to school, and they don’t have time to sit in a financial aid office. This is where the internet can come in very handy. Not only can returning students learn more about the financial aid they may be eligible for, they can also find schools with career-focused degrees that can be earned 100% online. That means busy adults trying to go back to school can now do it at their convenience – anytime, anywhere.
There are several services available that help adults find the right school. One popular service is CompareTopSchools.. This website is free to use and simply asks you a few questions regarding your education goals, background and preferences. Spending five minutes on a site like this will help you get matched with schools so you can speak to a student advisor and see if you qualify for grants, scholarships and loans.