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- Written by Kimberly Blaker Kimberly Blaker
Like many seniors and retirees today will attest, you’re never too old to go to college. Lifelong learning has become increasingly popular in recent years as baby boomers have reached the age of retirement.
For some, the purpose of going back to school is to finish their studies and accomplish a degree. But for many more, it’s merely for fun and an opportunity to gain knowledge, discover new interests, and keep their minds and bodies fit.
If you’d like to go to college, first, consider your purpose and what you hope to accomplish. Do you want to earn your degree? Are you primarily interested in broadening your knowledge? Are you in search of new interests and socializing opportunities?
Your answer might be one or all of these. But knowing your purpose will give you direction.
Once you’ve determined what you hope to achieve, visit nearby colleges or explore the websites of colleges in the city or state where you’d like to settle for retirement, and see what they have to offer.
Nontraditional College Credit
If earning your degree is important to you, today, more and more accredited colleges offer a variety of options for earning nontraditional course credit. Look into this first to save time and money.
At some colleges, you can earn Self-Acquired Competency (SAC) credits, which may have different names at various institutions. Such credits are available for a wide range of skills and life experiences.
They require compiling a portfolio for faculty evaluation. In your portfolio, you can include on-the-job training, work and volunteer experience, workshops, seminars, and more.
If you served in the military, you might be eligible for Military Service Credit for education you gained through schools, experience, or service.
You can also earn credits by examination. Some of these include:
- Credits for College-Level Examination Programs (CLEP)
- Advanced Placement examinations (AP)
- Defense Activity for Non-Traditional Education Support (DANTES)
Credit by examination can also save time and money if you have knowledge in a particular area or if you study and test well. But be sure to check with your institution before enrolling, since credit may not be awarded following admission.
Another possibility for credits is if you’ve completed any noncollegiate or in-company sponsored programs or courses. Find out if those programs or courses are any of the thousands reviewed by the American Council on Education (ACE). If so, ask your academic institution if they award credits based on ACE recommendations.
Correspondence and Online Courses
Independent study programs offer a couple of options. You can take online courses in the convenience of your home. These usually require attendance (at your computer) at specific times.
Correspondence courses are a good option also because there are no schedules. They typically allow six to 18 months for completion, with extensions up to one year. Evening and weekend courses, as well as accelerated programs, also offer some flexibility.
How to Pay for Tuition and Books
There are many options for financing your education. The Federal Pell Grant is available regardless of your age and is awarded based on financial need. The maximum award amount for the 2023-2024 school year was $7,395.
Several other options include:
- The Federal Supplemental Education Opportunity Grant (FSEOG)
- The Federal Work Study program
- The Federal Perkins loan
- Federal subsidized Stafford loan
- Federal unsubsidized Stafford loan
Many scholarships are also available for seniors, so ask the academic institutions you’re considering what they offer.
If you’re still in the workforce, ask your employer if it offers reimbursement for college courses. If the classes relate to your job, your employer may cover the costs.
Finally, don’t forget the American Opportunity Tax Credit, which modifies the HOPE Credit, a tax credit available for eligible taxpayers, totaling up to a maximum of $2,500. There’s also the Lifetime Learning tax credit. Specific requirements and restrictions apply.
If you aren’t interested in pursuing a degree but want the opportunity to attend courses, many colleges also offer special rates to seniors to audit a class.
Resources for Financial Assistance
- Visit Fast Web for information on colleges and a scholarship search at fastweb.com
- For federal grants and loans, request your Student Guide by calling (800) 433-3243 or visit studentaid.ed.gov/resources
- Visit the U.S. Department of Education for information on tax credits at studentaid.ed.gov/types/tax-benefits
Kimberly Blaker is a freelance writer. She also owns an online store, Sage Rare & Collectible Books, specializing in out-of-print, scarce, signed, and first editions; fine bindings; ephemera; and more at sagerarebooks.com.