Degrees and Dollars: Financial Planning for Adult Learners
Returning to college as an adult is a courageous move. Here’s how to make sure your finances keep up with your ambitions.
Returning to school as an adult is courageous, empowering — and yes, a little intimidating when it comes to your finances. Maybe you’re switching careers. Maybe you’re finishing a degree you started years ago. Either way, your budget is probably tighter than your schedule. Financial planning as an adult learner isn’t just possible — it’s powerful.
The Big Picture: Adult Learners and College Costs
Let’s start with some perspective: According to the Education Data Initiative, the average cost of college (tuition, fees, supplies) for public institutions is over $38,000 per year, and that number jumps for private schools. But don’t let that stop you in your tracks.
A Western & Southern Financial Group article puts it best: “Going back to school for a career change can be exhilarating, but it can also require some adjustments.” It’s not about having all the answers — it’s about having a strategy.
Step One: Know Where You Stand
Before you fill out financial aid paperwork or enroll in a class, take a clear-eyed look at your current finances.
• Tally your income and expenses. Budgeting apps like Mint or YNAB can help.
• Check your credit score. This may affect your loan options and interest rates.
• Estimate total costs. Don’t forget to include books, technology, transportation, personal expenses and time (yes, time is a resource too).
Pro tip: Regis University’s Office of Financial Aid can help you break down costs and avoid surprises.
Step Two: Maximize Your Aid (and Minimize Your Debt)
Adult learners often think financial aid is just for 18-year-olds. Not so.
• Fill out the FAFSA — even if you don’t think you’ll qualify. Aid options, including federal student loans, require a FAFSA on file.
• Search for scholarships specifically for adult students. Use databases like Fastweb. Many donors love to support learners who are boldly retooling their futures.
• Consider employer tuition reimbursement. According to the American Council on Education, more than 60% of adult learners work full time while in school, and many employers offer educational benefits. (Don’t be shy — ask HR.)
At Regis, our Student Accounts Office can help you navigate payment plans and flexible options tailored to adult learners.
Step Three: Think Like a Financial Strategist
You’re not just a student — you’re also a manager, parent, spouse, professional, caregiver. Your financial plan needs to work in real life, not just on paper.
• Consider part-time or hybrid learning. Stretch out your classes so you can keep earning at your day job and utilize night courses or online classes to ensure your day-to-day schedule is less impacted.
• Prioritize ROE, or “return on education.” According to the Education Data Initiative, an average bachelor’s degree has a 681% lifetime return on investment. On average, the median return for a master’s degree is about 472%. At Regis, our Center for Career and Professional Development (CCPD) can help you map career outcomes to your investment.
• Avoid high-interest debt traps. Credit cards and personal lines of credit can be costly. Explore federal loan options first and talk to financial aid advisors about smart borrowing and potential private student loan lenders.
• Ask the experts. Catherine Rohde, Assistant VP of Financial Aid and Scholarships at Regis University, advises: “Our financial aid staff can help you review all available federal student loan options. Additionally, private students loans may offer competitive fixed and variable interest rates and flexible repayment options to students with good credit or an available co-signer. Limiting debt to the extent you can is always critical, but we hope to help educate students regarding all available loan options and what will work best for them. Our ElmSelect partnership offers an accessible way to review and compare multiple private loan options.”
Step Four: Make It Sustainable
Burnout is real — and financial stress is one of its biggest triggers. A solid financial plan helps you stay focused on your studies, not your bills. After all, instant ramen should be a choice, not a necessity. Here’s how to keep your sanity and wallet intact:
• Build an emergency fund, even a small one. Having just $500 set aside can prevent panic if your car breaks down during finals.
• Track your wins. Celebrate when you pay off a loan, receive a grant or scholarship, or stick to your monthly budget. These victories matter.
• Use career resources. Your future income is part of the financial equation. Look for schools that offer resume reviews, interview prep, salary negotiation tips and job or internship networking. At Regis, the Center for Career and Professional Development (CCPD) can help students build real-world connections — something to consider as you compare programs.
• Lean on your support system. That includes your Regis community: advisors, mentors, professors and fellow students who’ve been there.
• Think long-term about financial wellness. Managing tuition is just one part of the puzzle. Building healthy money habits now can benefit you well beyond graduation. Explore budgeting tools, loan literacy and more through Regis University’s Financial Wellness resources.
Final Thoughts: Invest in You
Let’s be honest — going back to school isn’t always easy. But with thoughtful planning, it can be one of the smartest financial decisions of your life. You’re not just spending money; you’re investing in your skills, your confidence and your future.
And at Regis University, we’re with you every step of the way. From financial aid guidance to career support, this community is built for learners like you — resilient, purpose-driven and ready to write your next chapter.