8. Utilize eligibility for federal tax credits. For example, the Hope Scholarship Credit (up to $1,500 per year) and the Lifetime Learning Tax Credit (up to $1,000 per year) help reduce your income tax liability when you return to school. You can also deduct up to $1,500 of interest on a student loan. For more information, see the IRS Web site.

9. See if your school offers tuition or deferred payment plans. These spread the cost of tuition over a longer period of time. Some colleges also offer tuition prepayment plans, to offset the rising costs of college tuition.

10. To maximize financial aid eligibility, reduce assets by paying down consumer debt and purchasing any necessary expenditures (for example, a personal computer) before you submit the FAFSA (Free Application for Federal Student Aid.)

Additional Resources:

Scholarships for Re-entry Students: Grants and Retraining Assistance for Adults Returning to College.
Special 89 page report available for immediate download. Find the money to go back to school today.