A Bachelor’s degree is an investment worth making
Weighing the financial costs of returning to school can be a little overwhelming when you start doing the math. Try not to let that deter you because it is important to understand that there are many options for college financial aid for adults that will help make finishing your degree accessible and affordable.
Below are 3 tips to follow:
- Thoroughly Research Your Financial Aid Options– There is a lot that goes into financial aid for adult learners and it’s worth exploring every option (scholarships, grants and student loans). It’s important to do your research to see what types of financial aid you may be eligible for. We will help connect you with everything you have access to, whether it’s adult degree completion scholarships, military benefits, employer tuition assistance, or something else.
- To see what scholarships, grants and/or loans are available, you first need to visit the FAFSA website and complete the FAFSA. In addition to the staff in UMF’s Merrill Center, the Maine Educational Opportunity Center can assist you with this process!
- The University of Maine System offers scholarships between $500 and $2,000 per semester to adult degree completion seekers.
- There are several scholarship options available to you (Maine Community Foundation Adult Learner scholarship, HOPE program and the Maine Competitive Skills Scholarship.
- Work with a Financial Aid Counselor- It can feel a little overwhelming at times when you’re researching the many financial aid programs, eligibility requirements, and deadlines.The financial aid counselor, along with an academic advisor, will help you understand what credits you have already, how your program is priced, and how much it will ultimately cost you. They’ll also help you understand which tuition assistance programs you may qualify for and walk you through any financial aid package to see what the final costs would look like.
- Focus on the Return On the Investment (ROI) vs. Cost of Your Degree– What does finishing your bachelor’s degree mean to you? In some ways, it can be hard to quantify exactly what finishing your college degree can mean, especially if it’s been years since you were last in a classroom. There’s undoubtedly a feeling of personal fulfillment and pride that comes with it. Earning your degree may also lead to career advancements that give you increased flexibility or a better work/life balance—the benefits of which may be impossible to put a price tag on, like spending more time with your family and friends. A study by Georgetown University discovered that, on average, bachelor’s degree holders earn 31% more than those with an Associate’s degree and 84% more than those with just a high school diploma.
We will help you with this, if you give us the chance.
We don’t want a small past balance to stop you from coming back now that you have decided to return to your goal of earning a credential. You may qualify for the University of Maine System (UMS) Small Debt Forgiveness Program. The program works with you to develop a plan that will support you as you move toward having that debt erased and getting back on track to your goal.