Can Senior Citizens Apply for Financial Aid?

Higher education costs have been consistently rising for decades, and no individual demographic has been spared by these increases. Senior citizens looking to go back to school for personal or professional development might have questions about financial aid opportunities to cover these costs.

Many programs are available to senior citizens looking to return to school or earn a first-time degree. Most financial aid programs don't have age restrictions. Senior citizens can apply for federal financial aid, school-based programs, and other independent financial aid to pay for college classes and certification courses.

Applying for Financial Aid Programs as a Senior Citizen

College students often turn to financial assistance programs to cover the costs of higher education. Older students pursuing enrollment in a degree program at a university or community college can apply for student financial aid programs the same way that younger students do.

These programs are offered by the federal government, such as the federal Pell Grant, or by nonprofits and schools based on financial need. Older adults need to complete multiple steps to ensure they qualify for the maximum amount of financial aid.

Free Application for Federal Student Aid (FAFSA)

The Free Application for Federal Student Aid (FAFSA) is a form that all U.S. citizens should submit each academic year. Submitting your FAFSA form includes details like yearly income (including programs like Supplemental Security Income (SSI)), savings accounts, tax information from the previous year, and more.

Once you fill out the FAFSA form you will automatically be considered for most federal financial aid programs, like the Pell Grant and federal work-study programs. The FAFSA form is also used by school financial aid offices to help distribute need-based grants and scholarships to low-income students. Finally, your FAFSA will be used to help you apply for federal student loan programs if you need any additional assistance.

Understanding Financial Aid Eligibility

All U.S. citizens are allowed to submit a FAFSA each academic year, but applying for federal financial aid isn't a guarantee that you will receive any funds. Several factors are used to evaluate student's eligibility and how much they will receive.

The most common factors used by the Department of Education to determine eligibility for financial aid include:

• Demonstrated financial need (calculated based on the cost of attendance at your school and your income)
• U.S. citizenship with a valid Social Security number or status as an eligible non-citizen
• Active enrollment or acceptance at an accredited college or certification program
• Must have a high school diploma, GED, or pass an approved ability-to-benefit test

Age is not a factor that is used to determine eligibility for financial aid. Students can submit their FAFSA every eligible academic year, even if they applied when they were younger. Some states also have first-come-first-serve systems to allocate their financial aid programs, so make sure you fill out your FAFSA forms as early in the year as possible.

How Senior Citizens Can Apply for Financial Aid

The financial aid application process for senior citizens is similar to the process for younger students, but there will be a few key differences when reporting income.

• First, you'll need to assemble relevant documents and information, including your Social Security number and information about your spouse, such as savings accounts, yearly income, previous year's tax information, etc. If you've never applied using FAFSA, you must create an FSA ID account.
• Next, you'll need to fill out all of the questions and personal information requests in the form. Make sure to double-check all information because incorrect entries could delay your application. Most applicants take around one hour.
• List your target schools or certification courses, students can list up to 20 schools. This step is important because the total amount awarded will be based on the cost of attendance to your degree or certification program.

FAQs About Financial Aid and Senior Citizen Eligibility

Submitting your FAFSA to apply for financial aid is usually completed by young students, but senior citizens can also fill out this form. These applicants often have questions about their eligibility and what can disqualify them from earning financial aid.

Can a Senior Citizen Apply for FAFSA?

Yes, senior citizens are eligible to apply for FAFSA. Federal financial aid isn't tied to a certain time of life, and age isn't considered when considering eligibility. Senior citizens must be American citizens, have a valid Social Security number, and have an FSA ID. It is important to remember that eligibility to apply doesn't guarantee grants or scholarships.

What Disqualifies You from Getting Financial Aid?

Although most U.S. citizens will be eligible for financial aid, there are a few factors that can result in your application being denied. First and foremost, if you don't submit your FAFSA or miss the deadline, you won't be considered for federal aid. It's possible to apply for some nonprofit grants and scholarships, but you won't have federal eligibility.

Some non-citizens will still be eligible for federal financial aid, but they must satisfy additional requirements. In most cases, if you aren't a U.S. citizen you won't be eligible for financial aid. Students with criminal records might have different qualifications if they have certain felony convictions.

Finally, you have to be eligible for higher education. The federal government and state programs define this as having a high school diploma, GED, or completion certificate of an approved home school program. If you don't have any of these, most colleges won't accept your application, making you ineligible to receive financial aid; fortunately, some resources can help you earn your GED online.

What Are the Eligibility Requirements for a Grant?

Grant eligibility requirements vary widely from program to program, but there are a few common criteria. Most grants are offered based on financial need, using FAFSA results to determine your overall need. Other criteria for awarding grants include protected-class status and the field of study being pursued. Because so many groups, including governments, schools, and private businesses all offer grants, it's important to review each grant's eligibility requirements individually before applying.

Use Financial Aid for Online Degrees

Whether you're a senior citizen looking to earn your first bachelor's degree or return to school for personal or professional development, you should apply for financial aid. Use our resources to learn more about the accredited, online degree programs available that accept financial aid. You can research individual schools, find out more about their financial aid offerings, and learn what you need to do to start submitting your application today.