Should You Go Back To School As An Adult?

Older students have lots of options, from online courses to professional certifications to doctoral programs. Here's how to decide which route is right for you.

School days aren't always over once you hit your mid-twenties. The percentage of students over 25 who pursue higher education will increase over the next ten years, according to the National Center for Education Statistics. Older adults have lots of options, from online courses to professional certifications to doctoral programs.

Why go back to school? Adult students tend to have two main motivators: learning and earning. Associate's, bachelors', and master's degrees each qualify their recipients for higher-paying jobs. And pre-professional programs aim to transition students straight into careers.

Here are a few scenarios which might make you think about returning to school:

• You want to move into a higher earning bracket and you're confident a degree will help.
• You want specific educational training to further your career.
• You're switching career fields completely and want training in the new field so you'll be competitive in the job market.
• You took time off while in school and now you're ready to return.
• You have some financial security but you'd like a career you're more passionate about.
• You're interested in a field or course of study but not ready to devote yourself to it full-time.

It can be tough to fit school into an already busy lifestyle. The difficulties adult students report most frequently are finding the money and finding the time. While younger undergraduate students often orient their lives around campus, older students tend to structure their coursework around their lives.

How can you navigate student life and adult responsibilities? We've answered a few back-to-school FAQs below.

When should I go back to school?

There's no universally "right" timeline. But there are two major signs you might be ready.

First: You know what you want. You've pinpointed the subject you want to study and the goals you want to accomplish through your education. You're clear on whether you're taking a few skill-based classes or aiming for a degree. You may have a school or two in mind. A meeting with a career counselor can help you narrow down your choice. If you enroll with a sense of purpose, your time in school's more likely to be worth it.

Second: You're reasonably confident you can pay for it. Ideally your education should open doors to a career that will allow you to pay back any student debt. If the field you hope to enter is a low-earning one, try thinking outside the box for lower-cost higher education options. These may include associate's degrees, online programs, and individual classes not leading to a degree. Then there's the complex world of financial aid, which we'll talk about next.

How will I pay for school?

Remember the FAFAS, the form you or your parents filled out the first time you went to school? You get to fill it out again, this time as an audit. The FAFSA's required for most types of financial aid including federal grants and loans. There's no age limit for federal aid.

If you know the school you want to attend, get in touch with their financial aid office. Consider asking if you can enter your upcoming year's projected income on the FAFSA, rather than your income from the previous year. This is helpful if you plan to scale back on work hours during school. With a lower income you'll be considered for more need-based aid. Have your tax return handy if you plan to use the previous year's income on the application.

Ask the financial aid office about grants and scholarships. Hunt for scholarships independently too, and preferably as soon as you know you're returning to school. Deadlines come up early! Popular scholarship aggregator Fastweb lists grants available to non-traditions, adult, and returning students. Scholarships.com has a similar list.

There may be an opportunity geared to your identity or circumstances. Some grants are designed for adult residents of a certain city or state, military veterans, women, or adult students of color, for instance. Search for aid specific to your field of study as well.

The FAFSA will help you narrow down federal aid prospects. If you're getting your first bachelor's degree your school may consider you for the Federal Supplemental Educational Opportunity Grant (FSEOG) or the Federal Pell Grant. Schools reward these grants to students with great financial need, regardless of age. The Pell Grant's also available if you're getting a professional degree.

Loans need to be navigated more carefully. As you know, you'll have to pay them back. Federal loans are more flexible than private loans. Likewise, subsidized federal loans - where the government pays the interest while you're attending school - are preferable to unsubsidized loans. 

You may be extra cautious about taking on debt if you're already paying off loans from previous schooling. A school financial aid adviser can talk you through your options, which could eventually include refinancing or consolidation.

Here's the good news: Paying for school gets you tax breaks. One common student tax credit is the Lifetime Learning Credit. You can claim up to $2,000 a year, or 20 percent of your education expenses up to $10,000, for each year you're in school either full-time or part-time. There's also the American Opportunity Credit - this one's available to full-time students getting their first undergraduate degree. You can claim up to $2,500 for the first four years. If you're taking courses to further your career, you can deduct the money you spend on tuition and school supplies.

Going back to school can be the key to the career you always wanted. Or it can increase the earning potential and enjoyment of the career you already have. With researching and planning, you can find a program that fits your goals, your schedule, and even your budget.