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June 2023
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Financial Aid for Adults Going Back to School

Several misconceptions circulate around financial aid for adults going back to school. One, many hear that adult students aren’t eligible for scholarships, grants, and loans. Others believe that the best financial aid packages go directly to students who recently finished high school. As a result, adults who are considering finishing their bachelor’s degree, starting a master’s, or acquiring additional career-enhancing credentials get deterred by all the rumors out there and don’t apply, believing the financial costs to be too great.

Mount Vernon Nazarene University factors the needs of working adults into our Graduate & Professional Studies (GPS) programs. Most degree programs can be completed online in some form, and our affordable tuition is structured on a per-credit, course-by-course basis, allowing adults to continue working while studying on their own timeline. Financial aid fits into this framework, too. Adults interested in online or on-campus courses have a wealth of financing resources available.

To take advantage of all possible financial aid options, adult students are advised to first complete their Free Application for Federal Student Aid (FAFSA) form with their application and then reach out to an MVNU Financial Aid advisor for further guidance through the process.

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How the Financial Aid Process Works for Adult Students at MVNU

Students entering the GPS program cannot be evaluated for aid until they have submitted their application with a completed FAFSA form. Together, both documents are essential for determining need and awarding a financial aid package.

Contrary to assumptions, adult students attending MVNU are eligible for multiple types of financial aid awards, including grants, federal subsidized Stafford loans, and federal unsubsidized Stafford loans. For graduate students with high academic standing, assistantships may also be an option, while all adult students may further seek outside scholarship, grant, and loan programs.

As well, many employers offer tuition reimbursement as an employee benefit, believing continuing education allows workers to pick up new skills, excel in their jobs, work toward a promotion, and become a valuable asset to their organization. MVNU encourages all adult students to inquire with their employer about tuition reimbursement, including applications and grade, career, and credit requirements.

In general, no age limit exists for receiving financial aid. However, adult students pursuing a second bachelor’s degree should be wary of certain grant and loan restrictions that could affect their award.

Explore all financial aid options and processes for adults considering MVNU.

Additional Financial Aid Solutions for Adult Students

Along with traditional forms of financial aid, adults matriculating through GPS may be able to utilize their past experiences or previous education toward their degree or apply for an assistantship.

MVNU maintains multiple partnerships with community colleges. These relationships aid students in the pursuit of a bachelor’s degree and smooth out the credit transfer process, ensuring students entering MVNU from community college don’t have to repeat courses after completing their associate degree. Learn more about our educational partnerships.

MVNU is a military-friendly school that’s proud to assist all past and current military members with achieving their goals along their educational journey. Factoring in students with military experience, MVNU accepts benefits from all Chapters of the U.S. Military, including the GI Bill, participates in the Yellow Ribbon Program, and may also award academic credit for completed military service. Learn more about financial aid for current and former military members.

Many adults matriculating through GPS have already spent some time in the workforce, completing some corporate training, earning certain certifications or licenses, or gaining government or military experience. MVNU realizes the value these experiences offer. Our adult students, in turn, can apply their on-the-job or military knowledge toward their degree through prior learning credits (PLCs). From review processes to how credit values are determined, learn more about PLCs.

Adult students applying to or currently enrolled through GPS’s graduate programs may be eligible for a graduate assistantship. These competitive programs assist with covering part of the cost of tuition, and in the process, students gain experience through teaching assignments, research, or applied learning. Learn about the benefits of and application process for our graduate assistantships.

Calculating the Cost of MVNU Tuition

MVNU does not set a flat per-semester tuition rate for our students. Rather, all GPS courses are based on a per-credit, course-by-course structure. Across all graduate programs, the current rate is set at $498/credit hour. Undergraduate degrees have some variance, and students should explore their specific program for more information.

Further factoring in the needs of our adult students looking to further their education, MVNU enforces a tuition guarantee. The per-credit rate remains the same, without increase, during your time at MVNU, provided you remain continuously enrolled and maintain satisfactory academic progress. Learn more about GPS program costs.

MVNU Financial Aid Policies for GPS Students

Concerning loans and receiving financial aid awards, adult students must:

  • Have no break longer than 45 days between the end of one class and the start of another.
  • Have all necessary financial aid paperwork completed by the first night of each class.
  • Wait for an award letter, which covers financial aid eligibility for the full academic year.
  • Be aware of how schedule changes and academic standing can affect their award.

As you fill out your application and explore financial aid options, review and understand all MVNU financial aid policies for adult students.

Learn More About MVNU’s Financial Aid Solutions for Adult Students

Have you started an application but still have questions? Do you want to find out more about grants, scholarships, and loans for adult students? Direct your questions to MVNU’s Financial Aid advisors. Call the Financial Aid Office at 866-686-8243 or reach out via email today.