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How to Afford to Go Back to School

Did you know that most education programs in the United States cost around $65k a year? Are you confident enough to pay off the student loans?

To be honest, most of you won’t go back to a school that costs $65k a year. Even if you join a school with low tuition fees, you will need financial backing to carry out a successful career-rescue mission. I am assuming you are going back to school to finish your education that you abandoned sometime in the past, or learn new skills, or maybe, get your career in the direction that you want it to go.

Here are a few ways you can afford to go back to school.

1. Apply for Student Financial Aid

This is one of the most mainstream ways of funding your education. Most students in America are eligible for this government-aided loan. Applying for it is also free. So, there is nothing to lose here. Instead of wondering how to collect money for your education, just fill up the Free Application for Federal Student Aid (FAFSA) and prepare to become a student again.

2. Military Tuition Assistance for Service members

Have you served for Army, Navy, Marines, Air Force, or Coast Guard? If the answer is yes, then you need to stop worrying about funding for your school as the organization will pay all your fees directly to the institution. You have to fit the criteria for such a discount.

Moreover, if you are someone who is currently working for the above-mentioned government organizations, you can also opt for a “Top-Up Program”. A GI Top-UP Program is an initiative to help you pay for additional educational expenses like books, accommodation, fees, etc. To become eligible for this program, you must have actively served for 2 years(also you must be currently serving for either Army, Marines, Air Force, or Navy).

3. Apply for Scholarships

If you think paying back the education loan is not your cup of tea, scholarships can be a great option(if you are in a good position to get one). To get a scholarship today,  check out and find your perfect college.

To get started, you have to create a free account, fill up the details and get instantly matched to scholarships you qualify for. In the last 2 decades, has given more than 3.7 million scholarships to American students.

What can be a proper justification for taking student loan if I am not eligible for scholarships and I have never served in the army before?

Do not be like those people who take out massive student loans and then hope for the best. The only justification for taking a student loan(and going back to school) would be of you know for sure that you will get a massive raise at your current job.

If you are going to take a 65k per year student loan, you better get a raise of more than 35k per year. Or else, going back to school and looking for ways to afford it is of no use. You will waste your time, money and energy.

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Erin Thompson

Erin Thompson spent years managing her own blog about budgeting and debt. Because of that, she has great insights not only about managing spending and borrowing but also about running websites profitably. When she's not writing articles for us, she's traveling and looking for new types of wines to try.
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The content on is for informational and educational purposes only. It is not financial advice and we are not certified financial advisors. strives to keep its information accurate and up to date, but it may differ from actual numbers. We may have financial relationships with companies listed on our site. We may receive compensation for the placement of sponsored products or services. We work hard to write authentic and accurate articles.