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Government loans and grants question. I?

I am about to turn 61 years old. Been working in the industrial maintenance field for 30+ years in both mechanical and electrical departments. Are there any grants or loans I can get from the government to go back to school? I am looking at getting training to be a certified Aircraft Mechanic.

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  • nancy
    Lv 7
    3 years ago

    There is no age limit for federal student aid. You would definitely be eligible for federal student loans (Direct Stafford loans). As a first year independent student, you would qualify for $9500 per year. If your income is low, you may also qualify for the Pell grant, is currently $6095 per year. Other types of aid are available from states or from the school itself, but these will vary with the particular state or school. You apply for federal student aid by completing the FAFSA--the Free Application for Federal Student Aid. You can find it at https://fafsa.gov./ If you need help with it, the financial aid staff at the school you're interested will be happy to help you. However, I have to caution you about taking on debt at your age. As an older person who changed careers in my 50's, I can certainly sympathize. But the reality is that very few students who do this benefit enough from the education to make it worthwhile. Older workers have a great deal of trouble getting hired into a new profession, even if they have the required educational certifications. It may not be fair, but from the employer's point of view, investing in someone who is new to the field but only has a few years left in his working career is risky. And even if you are able to find a job, will you be working enough years and will the increase in your salary be enough to justify taking on 10 years of loan payments? It is very difficult to get those loans discharged--I have worked with senior citizens who were having their social security checks garnished to pay off student loans from years ago. And even without garnishment, those payments can take a very large bite out of any retirement income you might have. So give some serious thought to risk vs. benefit and what your back up plan will be if things don't turn out the way you hope. Make sure you take the time to research everything very thoroughly before making a decision. This is particularly true if you're thinking about attending a for-profit career school. Those places are notorious for handing prospective students an overly optimistic picture of their prospects, and then sticking them with thousands of dollars in loans when things don't pan out. I know......I worked for several of them, and they're all crooks. So be very, very careful and read the fine print before you sign anything. Good Luck!

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