INVEST IN COLLEGE.  INVEST IN YOURSELF.

So, you want to return to college but are unsure of how you’ll pay for it?  That’s understandable.   Many people have similar concerns.   Luckily, there are many options for funding your education including scholarships, grants, loans, tuition reimbursement from your employer, and more.

All of these forms of financial aid will require that you complete an application.  Before you can do that however, you’ll need to complete and file your taxes to be eligible to receive financial aid.  You’ll also need some of the information from your tax return to complete your FAFSA application.

So, first and foremost, be sure to file your tax return by April 15th.

When applying for financial aid, it’s best to start the process early.

1. Understand the deadlines for FAFSA and other applications.
2. Complete and submit your FAFSA (Free Application for Student Financial Aid).  
Visit FAFSA.ed.gov.  DO NOT use FAFSA.com — this is a commercial site that will charge you money to do what you can do for free at FAFSA.ed.gov.
3. Contact the college or university you plan to attend to learn all about the scholarships, grants, and financial assistance opportunities that are available to you.
4. Search for scholarships and grants.  These are types of financial assistance that do not need to be repaid.
5. Inquire if tuition assistance is available from your employer.
6. Consider using current income to reduce the costs of higher education.
7. Consult with family to see if they can provide assistance.
8. Consider private students loans either through a bank or private lender.  If you are considering private student loans, we encourage you to attend one of our financial aid workshops.

Financial Aid Deadlines

  

 

Employer Assistance

TIPS ON TALKING TO YOUR EMPLOYER
A great way to get financial assistance is through your employer. Many companies have tuition benefits available. Schedule an appointment with the Human Resources Department to discuss the matter. Even if your company doesn’t have a policy on tuition benefits, it’s worth trying to find support. Here are a few tips on how to approach the subject and guide the conversation.

1. Develop your educational plan
Identify which classes you would like to take; what degree you intend to pursue; and where, when, and how you will take your classes (online, weekends, nights, etc.).  Also, determine how you will manage your work, life, and family schedules.[/expand]

2. Create a list of the ways your education will benefit the company
Will your new skills make you more productive at work?  Will you be able to take on more responsibility?  Will it inspire you to be more loyal?  It’s all of these and more. [/expand]

3. Identify questions you want to ask your employer
If there is an existing program, some details may already have been established, like how your tuition is reimbursed.  If not, it’s a good thing to ask.  Each company is different.  Some companies pay the bill directly; others will deduct a portion from your paycheck and pay the rest, and still others will expect you to pay for your education up-front and repay you over a certain period of time.  It’s best to know these things in advance. [/expand]

4. Brainstorm and develop solutions to possible concerns
Your employer may have concerns.  Here are a few potential challenges and solutions:

Challenge: The time devoted to attending classes and studying will be time you’re not at work.
Solution: By developing your plan as we suggest in step one, you will be able to demonstrate your courses, goals, and schedule, and show your employer when you’ll be away if you even need to be away at all.

Challenge: You will leave the company after we have paid for your education.
Solution: Tell your employer that, if anything, this will strengthen your loyalty to the company. Some companies may require you to sign a contract stating that you will stay with the company for a certain period of time after you have completed your education.  If you are not asked to sign a contract, suggest it. It will only prove how committed you are to the company.

Challenge: Tuition will be too costly for the company.
Solution: Remind your employer how much it costs to recruit, hire, and train new employees in relation to the costs of supporting current employees who are looking to further their education to improve their on-the-job performance.

 

Grants and Scholarships

FINANCIAL SUPPORT WITH NO STRINGS ATTACHED.

Grants and scholarships are great forms of financial aid because they do not need to be repaid. What’s even better is that there are millions, if not billions of dollars available in the form of scholarships and grants. Some are available to almost anyone who applies. Others are designated for individuals who fit certain criteria, meaning they’re of a certain age, race, financial standing, military or religious affiliation, etc.

Researching these opportunities on your own and understanding which ones you may be eligible to receive can be overwhelming. We encourage you to schedule an appointment with a Graduate! Philadelphia representative and come in for assistance.

If you prefer to research grants and scholarships yourself, we recommend you start with fastweb.com. Beware of any service that charges you a fee for finding a scholarship or grant opportunity. Above-board scholarship and grant providers NEVER charge a fee for finding or applying for their services and awards.

For scholarship information specific to the college where you plan to enroll, call the financial aid office and inquire about financial aid and scholarships.