Debunking Common Myths about Paying for College As an Adult

If you are an adult considering going back to school to advance your career, one of the primary questions you may have is how to pay for college as an adult learner. This is a valid concern and one you will want to consider before jumping into your first class. There are many myths about financial aid and paying for college and you may leave money on the table if you fall victim to them. Once you know the facts about paying for college as an adult, you may realize it’s more affordable than you think.

Myth 1: I Will Have to Pay for Standardized Tests

Some financial aid options are based on merit, and that starts with test scores. If you took the SAT or ACT in high school, you may be concerned your scores are no longer valid and those tests have to be retaken. While your test scores are still available, most schools won’t accept test scores over five years old. However, standardized test scores are becoming a thing of the past, with many choosing to remove that portion of the application altogether. Moreover, many schools will also waive required testing for adult learners through placement testing, allowing you to get started on your degree without this hurdle.

Myth 2: Going Back to School Means College Loans

This myth holds some truth as many students do take on college loans to pay for their school. While over half of today’s undergraduate students will graduate with some debt, there are ways to pay for college without loans using careful financial planning, especially as an adult learner. For example, many adult learners use tuition reimbursement programs from their employers to pay for college without debt. Employers can offer reimbursement up to $5,250, which is the amount an employer can provide annually to an employee for educational assistance, tax-free, under section 127 of the Internal Revenue Code. Scholarships specifically for adult learners and through your university may also be available. Depending on how many credits you plan to take in a semester/trimester, you may only need to cover the costs of your fees and course materials.

Myth 3: The FAFSA Isn’t for Adult Learners

The Federal Application For Student Aid (FAFSA) is the best way to find out what you qualify to receive as a college student. Your FAFSA will tell you if you qualify for grants, scholarships, and loans, and you have the option to accept or deny as many as you’d like. Even as an adult learner, you have the option to get federal aid. You may even qualify for more as an adult learner, as the amount of aid available is based on your income and assets. In fact, over 40% of all students will receive federal grants. While having to pay off loans isn’t always ideal, with your higher earning potential, it will be much easier to cover the future expense.

Myth 4: I Will Have to Pay for Courses I’m Already an Expert In

One of the perks of being an adult learner is the chance to receive college credit for your work experience. Online universities geared towards working adults have gotten creative in how they can turn life experience into reduced higher education costs. There are many assessments that can replace general education courses, as well as courses you may already have real-life experience in. You can consider College-Level Examination Program (CLEP) Exams and DSST exams. Additionally, some universities like UMass Global offer alternative credits for students to reduce total credit hours.

Myth 5: I Need to Work During School Hours

If the thought of going back to school brings hours sitting in a classroom to your mind, then you will be surprised by modern education. Today many programs are available fully online and some offer self-paced options. This gives you the chance to fit your program to your lifestyle. You can log in to complete classes after work or after your evening responsibilities. Many do not require you to attend regular lectures but rather learn through reading and discussion groups. This flexibility makes it easier than ever for adult learners to go back to school and fit their classes around their lives.

Keep in mind, going back to school still requires a time commitment. To be successful in an online learning environment you will need to schedule dedicated study sessions to ensure you pass your courses. This is even more important for those students enrolled in an employer tuition assistance program.

Myth 6: I Will Need to Pay to Retake College Courses

If you have previously taken college courses, you may be able to transfer those credits to your new university. Each school has its own policy about transfer credits, but general education courses, such as college algebra and English, will often be accepted for transfer credit. If you made it through your general education courses and completed part of the core requirements of your desired program, you will need to verify degree-specific course are accepted.

Depending on the university you are transferring from and industry updates, the technologies and concepts learned may be out of date. The goal of going back to school is to have learn the most relevant skills in today’s environment. If you do end up needing to retake a course, know that it will only positively impact your professional and career development.

Myth 7: Going Back to School Is Not Worth the Cost

A common reason interested adults end up not returning to school is the feeling that the benefits don’t outweigh the costs. It’s actually the exact opposite. In fact, in 2023, those with a bachelor degree earned 76% more each week than those with only a high school diploma. Those with a college degree also experience increased job security. In today’s job market, a bachelor’s degree is the minimum requirement, with many showing preference for those with a master’s degree. To enhance this security, you can explore degrees where job growth over the next 10 years is higher than the national average. For example, cybersecurity roles are expected to grow 32% by 2032.

Access Affordable Higher Education with UMass Global

There are many questions adults have when considering returning to school. Financial misperceptions, unfortunately, can put up roadblocks. Finding the right program plays an important role in helping make higher education more affordable. UMass Global offers flexible online bachelor’s and master’s degree programs. Our programs are accredited and we offer a variety of financial aid options.

Request more information about financial aid at UMass Global, or apply today.