If I go back to college and receive financial aid....................................

[adomville2]

will that affect my sons' eligibility or amount that they will receive?

Here's my situation:
My oldest son is a sophomore in high school and my other son is in 7th grade.
My husband is permanently disabled (blind), so we receive Social Security benefits for the boys until they are 18 years old. Right now, I am a stay-at-home mom, and take care of the family, but when my boys turn 18, I will need to go back to work to replace that income.
I've been thinking about going back to college, for a 2 year degree, and applying for financial aid for myself, which I will need in order to attend.

My only concern is that if I receive financial aid, how and/or if it will affect my son's financial aid?
Also, would it be better for me to go to school now and be finished before they start college, or wait until they themselves are finished with college (in which case, I would just have to find work somewhere until I could go back to school.)
I'm 39 years old too, so I hate to wait too much longer to get a degree, or I'm afraid I'll never get it done, and may have problems with securing a job later on down the road.

Has anyone had a similar situation?
Thank you, Angela

 

[kaytieeldr]

It just seems it would make sense to go to school full time now for the two years and be finished before your older son is ready for college. That way, when you need to go to work, you'll have the degree and so a higher earning potential.

 

[ctinct]

If you receive financial aid now, that will not impact your son's aid later. It actually might be easier for you to start school now, because while it used to be that a parent in college would impact the FAFSA numbers, I am fairly certain that is no longer the case. Two children as students, however, does. For example, just to use nice round numbers, say your children were close in age. The first year, only one attends college, and his EFC is , say, $10,000. The next year, both students are in college, but the TOTAL efc would not go up. However, as I understand how the process works now, if you as a parent attended school at the same time as your child, he would have a $10000 efc and you would also have a separate expected financial contribution. You might want to talk to the financial aid people at the college you are hoping to attend to clarify and see if they can give you an early read on how the two different scenarios might play out. (I realize your two children will not be in school at the same time---I am talking about if you and your first child attend the same time vs at different times.)

And, as a pp said, if you start now, you can hopefully be done and bringing in an income by the time your first is ready to attend college. Just be sure you look at some accurate numbers on how many people get jobs in your chosen field after graduation. And DON'T just rely on what the college tells you! They WANT people to enroll, so they sugarcoat the numbers. I say this as an adult returnee (about ten years ago) who earned an elem. ed degree, but will likely never work as a teacher. While I don't regret my return to school, as it led me to my current job, it was a rough few years after graduation. The education field is just too saturated here, and there have been layoffs galore. Since you want to be sure you can earn a good income after graduation, just be sure to do some research first. Even nurses, who used to have several offers before graduation a few years ago, are sometimes finding it difficult to find employment around here now.

 

[tinkmom2]

If you receive financial aid now, that will not impact your son's aid later. It actually might be easier for you to start school now, because while it used to be that a parent in college would impact the FAFSA numbers, I am fairly certain that is no longer the case. Two children as students, however, does. For example, just to use nice round numbers, say your children were close in age. The first year, only one attends college, and his EFC is , say, $10,000. The next year, both students are in college, but the TOTAL efc would not go up. However, as I understand how the process works now, if you as a parent attended school at the same time as your child, he would have a $10000 efc and you would also have a separate expected financial contribution. You might want to talk to the financial aid people at the college you are hoping to attend to clarify and see if they can give you an early read on how the two different scenarios might play out. (I realize your two children will not be in school at the same time---I am talking about if you and your first child attend the same time vs at different times.)

And, as a pp said, if you start now, you can hopefully be done and bringing in an income by the time your first is ready to attend college. Just be sure you look at some accurate numbers on how many people get jobs in your chosen field after graduation. And DON'T just rely on what the college tells you! They WANT people to enroll, so they sugarcoat the numbers. I say this as an adult returnee (about ten years ago) who earned an elem. ed degree, but will likely never work as a teacher. While I don't regret my return to school, as it led me to my current job, it was a rough few years after graduation. The education field is just too saturated here, and there have been layoffs galore. Since you want to be sure you can earn a good income after graduation, just be sure to do some research first. Even nurses, who used to have several offers before graduation a few years ago, are sometimes finding it difficult to find employment around here now.

I agree to go back to school now! I am back to school for the first time in 20 years and am loving it! My hubby is also loosing his job in 90 days so it's even more imperative I get a new job. I went for something in the medical field. There is going to be a huge shortage of health care professionals in the near future.

They base your need off your income. If part of your income is SSI that may affect your family contribution. That may work in your benefit. The school you are applying for has financial aid counselors. I would apply as soon as possible and scedule and appointment with your school.

I was able to transfer all my credits from school 20 years ago and am on the fast track to completing my certificate. I go part time and work part time. I should be done by December of this coming year. I also am going to attend summer school this summer.

 

[SnowWtch]

You going to college will not affect your son's EFC number. They ask what the household size and number in college is. For household, everyone is counted. However, for number in college it is different. A parent can claim themselves and their children as being in college but a student cannot claim a parent only themselves and other siblings. Therefore, with him in college, his EFC will not be affected by you but your EFC may decrease since there would be 2 in college. The more in college the lower the EFC goes as it takes into account the extra expenses. Also, anything you do now with him not being in college yet has no effect on his numbers later. It only has an effect if the student is in school the same time as the parent or other siblings. Hope this helps.

 

[MrsPete]

Your return to school should have no impact on thier eventual financial aid.

You're looking at starting next fall, I assume? Since you're looking at a two-year degree, you'll be in college while your son is a junior /senior in high school. So the two of you will not "overlap" -- you will neither help nor hurt him in the financial aid arena. Also, you'll fill out his first FAFSA form while you're still in college; thus, you won't be earning yet. If you start working the day after graduation, you'll still be earning an entry-level salary during most of his college years. Both you and he will probably get a decent amount of financial aid.

Your second son may not receive quite as much financial aid. You'll start working when he's a high school sophomore. So by the time he starts college, you should be in a stronger financial position. If your older son chooses a two-year degree, he'll be out of school and off your financial books. With three years in the work force, you'll begin to see a larger salary. With a father on disability, he'll probably still get financial aid, though probably less than the older son. BUT, if your older son is in a four-year program, and the two boys "overlap" in college, they'll both do well with financial aid for your second son's first year in college.

I'll echo what another poster said: Be careful what degree you choose. Be sure you'll be able to get a job in your area. Colleges act as if all degrees are equally viable -- and all education improves us as people -- but most of us who live in the real world want to know that those expensive degrees will also prove financially valuable.

 

[fostrmom2mny]

Congrats for thinking about going to college. I wish I would have had the courage at 39 to go to college! As it is for me, I'm 50 and started college part time (first time experiance) while working full time and I can't believe I was intimidated to go. I LOVE college! I am attending a Community College in my second semester. I also have FASFA and because my college hours are so much more reasonable than many of the "private two year colleges" I actually have enough aid to cover all my college hours, books and $ left over. My first time I bought a new light weight computer.

My biggest advice for you is to be really cautious of the private type schools that cost an arm and a leg. Here is an example, I have two different friends who opted to take online classes from a well known private school, who has a campus locally. Where I get money back from FASFA each year, they owe additional money and they both work making a little less income than me. One of them has attended the same twosemesters and owes approx $8000 above her FASFA. My other friend went to the same place and earned her BA. Over the time that she went, she owes $30,000. I will get my associates at no out of the pocket, and I have a higher income than either of them. The difference was the type of college they chose to go to.

You know the type. They advertise a lot, and will completely walk you thru applying for financial aid 100%. Here is one other example, my foster daughter graduated from High School and wanted to attend a private college. They offered a two year associates degree in massage theropy. With FASFA, for the (18 month class they combined her FASFA over the course) she would still owe $8000. I encouraged her to check out other options, and she is also attending the State community college. Not only does she not have any out of the pocket, but she gets $ back (left over from FASFA) each semester.

Just make sure you do your homework and don't get caught up in one that will drain your pocketbook. Hope others might weigh in on this as well.

Good luck!

 

[adomville2]

Thank you all so much for your responses!
I appreciate your time and insight.

I was looking into an Occupational Therapy Assistant degree. It's offered at 2 schools in my area (Kansas City), one is through the community college, and the other is a private school. I've heard pros and cons on both, but honestly, it's going to come down to money when I make my choice. From what I hear, it seems to be a job that will be more in need, and start at a decent salary ($35,000), with room to grow. Does anyone know where I should look to check on that kind of information?

I had thought kind of the same thing, that if I finish school before my oldest even gets started, that it "shouldn't" affect his aid, but this is all new to me!

This college stuff is a whole new ballgame!

Thanks again and Blessings to all!
Angela