In one of many such arrangements across the country, Dallas County residents age 65 and over get up to six hours’ tuition free at Richland College every semester. (Huffington Post)
Numerous discounts, tuition waivers and other deals make it possible for retirees–even those living on a fixed income to attend college classes.
According to a financial aid expert with FinAid.org and Fastweb.com there are many opportunities for senior citizens get help paying for their college classes.
Financial arrangements (such as auditing classes for free or a tuition reduction for those receiving credit) vary widely by school as do the age requirements which are generally for ages 60-65 and over.
Oklahoma offers state-authorized tuition waivers as well as discounts to senior citizens wishing to educate themselves at its public colleges and universities. Be sure and discuss your needs and goals with the admissions department of the institution you desire to attend.
Don’t forget to ask your tax advisor about Uncle Sam’s $10,000 lifetime senior citizen deduction for higher education!
The Senior Scholarships program provides $1,000 education awards for people 55 or older who volunteer 350 or more hours a year. The money may be used for the volunteer’s own education or transferred to a child, foster child or grandchild.
The American Opportunity tax credit can lower taxes for students of any age dollar-for-dollar for the first $2,000 spent on tuition, fees and course materials. The credit also applies to 25 percent of the second $2,000. Unless extended, the temporary credit expires at year’s end (2010).
More seniors might head back to school if they knew about the deep discounts and freebies – or lived near colleges. As it is, education remains an untapped resource for most.
See entire list of discounts for Baby Boomers born in 1955 and before.
College education, Classes, University, Universities, School