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After you’ve done all the work to finance your first degree, you may be wondering how the rules change when it comes to seeking financial aid and scholarships for your second degree. Depending on what type of second degree you study, you may be eligible for a new scholarship!
In this article, we will advise you on how to get financial aid and scholarships for your second degree. Your options depend on the degree you currently have and the type of degree you want. We break down some scenarios to give you the right answer for your situation.
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Undergraduate students who earn a bachelor’s degree have the same resources as most students. They are eligible for federal aid, including Pell grants and federal loans. Both grants and loans are available for completing the FAFSA, so be sure to apply.
Additionally, these students receive most of the scholarships available to undergraduate students today. Most of these scholarships require students to be accepted or enrolled in an undergraduate program.
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There are many reasons why a student with a bachelor’s degree may decide to return to school to earn another bachelor’s degree. Some people are attracted to a completely different field than the one they were in. If so, they can enroll in another program to gain basic knowledge in the field and become a graduate candidate in the field.
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Unfortunately, students who earn a second bachelor’s degree may not have access to the same federal resources as candidates with a first bachelor’s degree. These students are not eligible for Pell Grants, but they are eligible for federal Stafford loans if they have not reached the student loan limit. You can talk directly with the schools you attended. They can point you in the direction of funding sources or tell you about scholarships their school offers.
The scholarship is the best source of financial aid for a second bachelor’s degree. Many scholarships require students to be accepted or enrolled in a graduate program. Fortunately, candidacy is not based on previous bachelor’s degrees.
If you have an inspiring story behind your decision to go back to school and study in a completely different field, try to use it in your scholarship application; Finding another bachelor is a rare feat, and you can stand out from the crowd by telling the story of what got you there!
You can also find scholarships for students with non-traditional education paths. The scholarship list is approved for:
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Be sure to check out these lists if one of these categories appeals to you, as these scholarships are very useful for your background.
They have many resources for students with a bachelor’s degree who want to enter a graduate program. Most graduate programs offer paid opportunities that can be tied to your studies, including research and teaching assistantships. These often pay better than on-campus jobs in undergraduate programs and can be a great help in financing your degree.
Graduate students can receive subsidized federal direct loans of up to $20,500 per year. Although these loans have higher interest rates than federal loans, they are a better option than personal loans. There are also scholarships for postgraduate students abroad.
No matter what type of degree you’re looking for, our scholarship research tool is a valuable resource. Enter information about your demographics and the type of scholarship you’re looking for, and apply at a time that suits your academic and financial situation.
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Although ISAs are not very popular, they are something you can use to fund your second degree. An ISA works in the same way as a student loan, the difference is how you repay the money. After you graduate and find work, the ISA will take a percentage of your salary every month until you pay back the amount you agreed to. For those looking to enter an industry with a higher starting salary, this can sometimes be a good option. However, as with any financial decision, make sure you do your research and understand before you sign anything!
Is it worth getting a second bachelor’s degree? For students who have a significant change in their career interests, a second degree is necessary to achieve their goals. For example, a student studying sociology who decides to enter medicine may decide to take a second degree to complete medical school requirements. This is often a very expensive and time-consuming process and therefore rare, but can be beneficial for students under the right circumstances.
That said, most students don’t go to school with the intention of returning to earn a bachelor’s degree. Students with diverse interests often choose to double or add a minor. Many interests can be pursued in school without earning a dual degree.
Is getting a master’s degree second degree? A master’s degree counts as a second degree. Usually, when people talk about “second degree seekers”, what they mean is a student who is studying for a degree other than the one they already have – for example a student with a bachelor’s degree. However, a student pursuing a master’s degree is still technically pursuing another degree.
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Can I still get financial aid for a second degree? In most cases, you should still be eligible for some type of financial aid. But this aid for the second degree will be more limited than the first degree. It all depends on how much you have borrowed in federal student loans and what type of second degree you are looking for. Students with a second degree have fewer options than students with a bachelor’s degree and a first degree.