Senior & Retirement Benefits: What You Need to Know
4 min read
Education can be the key to unlocking new opportunities, but navigating financial aid and tuition assistance programs often feels overwhelming. Luckily, there are numerous resources available to help ease the financial burden of education for you and your family.
Whether you're looking to fund your child’s college education, need assistance with school supplies and services, or are considering a career change, this guide will walk you through the educational benefits designed to support families like yours.
To learn more about all the benefits available to you and your family, sign up now for BenefitKarma!
What kinds of tuition assistance programs are available to help pay for a college education?
There are several types of financial aid available to help cover the cost of college, including loans, grants, scholarships, and work-study programs. These tuition assistance benefits can reduce out-of-pocket expenses and make higher education more affordable.
FAFSA & Student Loans
The Free Application for Federal Student Aid (FAFSA) is the starting point for accessing tuition assistance programs for college. Submitting the FAFSA can make you eligible for:
Federal student loans: Borrowed funds you repay after graduation. Loan amounts vary based on financial need and can range from $5,000 to over $20,000 annually.
State and school-specific aid: Some states and colleges use FAFSA data to offer additional grants or scholarships.
Pro Tip: FAFSA applications typically open on Oct. 1 each year. Completing it as early as possible can maximize your financial aid opportunities.
Pell Grants
Unlike loans, Pell Grants don’t need to be repaid. They’re awarded based on financial need, with annual amounts of up to $7,395 (as of 2024). These grants can cover tuition, textbooks, and other education-related expenses.
Federal Work-Study
For students with financial need, the Federal Work-Study program offers part-time jobs to help cover education costs. Jobs often pay a few thousand dollars annually and accommodate students’ class schedules. Common roles include library assistants, research aides, and tutoring positions, which can also help build professional skills.
Scholarships and Local Grants
Many community organizations and state governments offer scholarships or grants for K-12 students, adult learners, and underserved groups. Examples include:
Scholarships for STEM fields or other in-demand industries.
Financial aid for students with disabilities or those from military families.
What kinds of special educational resources are available for students?
There are numerous resources designed to support students from various backgrounds and academic paths, including vocational training, internet access programs, and assistance for nontraditional or special needs students.
Free or Low-Cost Internet Access
Programs like the Affordable Connectivity Program offer discounted internet and devices to qualifying families. This ensures students can access online learning resources, which are increasingly critical in today’s education environment.
Vocational and Trade Education Benefits
For students pursuing career paths outside of traditional four-year colleges, trade schools and apprenticeships offer affordable educational opportunities with the potential for lucrative careers. Fields like welding, healthcare, and electrical work are supported by scholarships and grants. These benefits provide students with a viable and cost-effective education route.
Benefits for Nontraditional Students
Tuition Reimbursement Programs: Many employers offer tuition reimbursement for employees seeking to further their education through degrees or certifications. This support can ease the financial burden of continuing education while maintaining employment.
Veterans’ Education Benefits: Programs like the GI Bill help military veterans and their families with tuition, housing, and books. The GI Bill offers various education benefits, including:
Post-9/11 GI Bill: Covers full in-state tuition at public colleges or up to $26,000 per year for private colleges, plus housing and book stipends.
Montgomery GI Bill: Provides a set monthly benefit for veterans attending school.
Vocational Rehabilitation & Employment: Assists veterans with disabilities in pursuing education or career-focused training.
Support for Students with Disabilities
Students with special needs can access resources like Individualized Education Plans (IEPs) and 504 Plans to ensure they receive the necessary academic support. There are also scholarships specifically tailored for students with disabilities, designed to make higher education more accessible and inclusive.
How to Get Started with Education Benefits
Navigating education benefits starts with understanding eligibility and deadlines. Here’s how to begin:
Complete the FAFSA early to maximize your financial aid options.
Contact your child’s school for free meal programs, tutoring services, and local grants.
Research scholarship opportunities through your state or community organizations.
Explore local community colleges for cost-effective education and transfer pathways.
Education is an investment in the future, and these programs can help lighten the financial load, ensuring you and your family have the resources to thrive academically.