A common assumption among women considering going back to school at 40 or 50 is that financial aid is “for 18-year-olds,” and that returning students are mostly on their own for funding. That’s not accurate. Adult and returning students qualify for most of the same federal aid as traditional students, plus some programs designed specifically for them. Here’s what’s actually available.
Start with the FAFSA, regardless of age
The Free Application for Federal Student Aid (FAFSA) has no upper age limit. Adult students are eligible for the same federal grants, work-study, and loan programs as any other applicant, based on financial need and enrollment status, not age. If you haven’t filled one out since your first degree, expect the process to look different now, especially around how your own income and assets are counted instead of a parent’s.
Federal grants worth checking
The Federal Pell Grant is the largest source of need-based aid and doesn’t need to be repaid, though eligibility depends on financial need and whether you’ve already used up your lifetime eligibility from a previous degree. The Federal Supplemental Educational Opportunity Grant (FSEOG) is available at some schools for students with the most significant financial need, on top of Pell eligibility.
Aid sources specifically relevant to adult and career-change students
Employer tuition assistance
If you’re currently employed, check whether your employer offers tuition assistance or reimbursement, even for programs unrelated to your current role. Many mid-size and large employers offer this and it’s underused, often because employees assume it only applies to job-related coursework. It’s worth asking HR directly rather than assuming based on what’s listed in the employee handbook, which isn’t always current.
Scholarships specifically for returning and nontraditional students
A meaningful number of scholarships are restricted to students over a certain age, students returning after a gap, or women specifically re-entering education or the workforce. These are less competitive than general scholarships because far fewer people know to look for or apply to them. Search using terms like “returning student scholarship,” “nontraditional student scholarship,” and “women in [your field] scholarship” rather than general scholarship search terms, which tend to surface options aimed at recent high school graduates.
State and workforce development funding
Many states offer workforce retraining grants, particularly for fields with documented labor shortages like healthcare, skilled trades, and technology. Your state’s department of labor or workforce development office, along with your local American Job Center, is the place to check; these programs are often underpublicized relative to federal aid but can cover a meaningful share of costs for eligible fields.
Federal student loans, used carefully
If grants and scholarships don’t cover the full cost, federal student loans generally carry better terms than private loans, including fixed rates and more flexible repayment options. Before borrowing, it’s worth running the actual payback math we cover in our guide to evaluating online degree programs: total cost against realistic income increase, based on real job postings rather than a program’s own marketing. Because taking on debt is a significant financial decision, it’s reasonable to talk it through with a financial advisor before committing, particularly if you’re also weighing it against retirement savings or other financial priorities at this stage of life.
A practical order of operations
- File the FAFSA first, even before you’ve picked a final program, since many aid deadlines are early.
- Ask your employer’s HR department directly about tuition assistance, in writing if possible.
- Search for scholarships specifically labeled for returning, nontraditional, or adult students.
- Check your state workforce development office for grants tied to in-demand fields.
- Use federal loans as a last resort, and only after calculating a realistic payback period.
If you’re still deciding whether the program itself is worth the investment before you get into financing it, our guide on whether it’s worth going back to school at 40 is worth reading first, and if an MBA specifically is on the table, this look at MBA costs and payback covers the financing question in more depth.
If loans are part of the picture, it is worth weighing them against your other financial priorities — see our broader framework for financial planning for a career change.
Frequently asked questions
Can adults over 40 get financial aid for college?
Yes. Federal financial aid through the FAFSA has no age limit, and adult students are eligible for the same grants, work-study, and loan programs as traditional students, based on financial need and enrollment status.
Are there scholarships specifically for women going back to school?
Yes, a range of scholarships are specifically restricted to women returning to education after a career break or life change, as well as women entering specific fields like technology, skilled trades, or healthcare. These tend to be less competitive than general scholarships since fewer applicants search for them.
Does my current income count against me for financial aid as an adult student?
It’s a factor in the FAFSA’s need calculation, but “independent student” status, which most adult students qualify for, changes how aid is calculated compared to a dependent student whose parents’ finances are factored in. It’s worth completing the FAFSA regardless of your income level, since eligibility for some aid extends further up the income range than people assume.
