Yes, you can get financial aid if you already have a degree, but your options depend on the type of degree you hold and the new program you plan to attend. Federal student aid, like grants and loans, is available for many second-degree seekers, though some aid types have limits. This article explains how to qualify, what to watch out for, and how to make the most of your aid.
Federal Aid for Second-Degree Students
If you already have a bachelor’s degree and want to pursue another bachelor’s degree, you generally cannot receive Federal Pell Grants. However, you may still qualify for federal student loans, including Direct Subsidized and Unsubsidized Loans. If you are pursuing a graduate or professional degree, you may be eligible for Direct PLUS Loans and other graduate-level aid.
For associate degree holders, the rules are slightly different. You can still receive Pell Grants if you have not yet earned a bachelor’s degree, but your eligibility depends on your enrollment status and financial need. Always check with your school’s financial aid office for the most accurate information.
Types of Aid You Can Still Get
Even with a degree, you can access several types of financial aid. Here is a breakdown of common options:
- Federal Direct Loans: Available for undergraduate and graduate students, regardless of prior degree, as long as you are enrolled at least half-time.
- Graduate PLUS Loans: For students in graduate or professional programs, based on credit history.
- Work-Study: Federal work-study may be available if you demonstrate financial need, even if you have a prior degree.
- Private scholarships and grants: Many organizations offer funding for adult learners or those pursuing a second degree.
What About Pell Grants?
Pell Grants are typically reserved for students who have not yet earned a bachelor’s degree. If you already have a bachelor’s, you cannot receive a Pell Grant for a second bachelor’s. However, if you are pursuing a teaching credential or certain post-baccalaureate programs, you may still be eligible under specific conditions. Always verify with the U.S. Department of Education.
Lifetime Eligibility Limits
Federal student aid has a lifetime limit for loans and grants. For Direct Subsidized and Unsubsidized Loans, the aggregate limit is $31,000 for dependent undergraduates and $57,500 for independent undergraduates. For graduate students, the limit is $138,500 (including undergraduate loans). These limits apply regardless of how many degrees you earn.
Pell Grants have a lifetime limit of 12 full-time semesters (or 600% of your eligibility). If you used Pell funds for a previous degree, you may have remaining eligibility, but you cannot exceed the cap. Check your remaining eligibility through the National Student Loan Data System.
| Aid Type | Eligibility for Second Degree | Lifetime Limit |
|---|---|---|
| Pell Grant | Not for second bachelor’s | 12 semesters total |
| Direct Subsidized/Unsubsidized Loans | Yes, if enrolled at least half-time | Undergrad: $31k (dependent), $57.5k (independent); Grad: $138.5k |
| Graduate PLUS Loan | Yes, for graduate programs | Based on cost of attendance minus other aid |
| Work-Study | Yes, if financial need | No lifetime cap, but annual award |
How Your Degree Level Affects Aid
Your prior degree level plays a big role in what aid you can get. If you have an associate degree and are seeking a bachelor’s, you are still considered an undergraduate, so you may qualify for Pell Grants and undergraduate loans. If you have a bachelor’s and are seeking a master’s or doctorate, you are a graduate student, and your aid options shift to graduate loans and assistantships.
If you have a bachelor’s and want a second bachelor’s, you are still an undergraduate for aid purposes, but Pell is off the table. Some states offer grants for second-degree students in high-demand fields like nursing or teaching. Check your state’s higher education agency for specific programs.
Steps to Apply for Financial Aid with a Prior Degree
Applying for aid with a prior degree is similar to the first time, but there are a few extra steps. Follow these steps to ensure you get the aid you qualify for:
- Complete the Free Application for Federal Student Aid (FAFSA) every year you are enrolled. You will need your previous school’s records and tax information.
- Check your lifetime eligibility limits using the National Student Loan Data System (NSLDS) to know how much loan and grant aid you have left.
- Contact your new school’s financial aid office to discuss your situation and ask about state or institutional aid for second-degree students.
- Explore scholarships specifically for adult learners or those changing careers, as these often have fewer restrictions.
Special Cases: Teacher Certification and Graduate Programs
Some post-baccalaureate programs, like teacher certification, may allow you to receive Pell Grants even if you have a bachelor’s degree. This exception applies if the program is a state-approved teacher certification program. For graduate programs, you are not eligible for Pell, but you may receive Federal Work-Study and loans.
If you are pursuing a graduate degree, you may also qualify for assistantships or fellowships that cover tuition and provide a stipend. These are not federal aid but are common in many graduate schools. Check with your department for available opportunities.
Common Mistakes to Avoid
Many second-degree students make errors that delay or reduce their aid. Avoid these pitfalls:
- Assuming you are not eligible for any aid – you likely are for loans.
- Not checking your remaining Pell eligibility before enrolling.
- Missing FAFSA deadlines – the federal deadline is June 30, but states and schools have earlier deadlines.
- Forgetting to report prior student loans – this affects your aggregate limits.
State and Institutional Aid Options
Many states offer grants for residents pursuing a second degree in high-demand fields. For example, some states provide funding for nursing or STEM programs. Institutional aid, such as merit-based scholarships, may also be available regardless of your prior degree. Always check with your school’s financial aid office for a complete list of opportunities.
Private scholarships are another avenue. Search for scholarships for adult learners, career changers, or those pursuing a specific major. Many have no restriction on prior degrees.
Final Thoughts
Having a degree does not automatically disqualify you from financial aid. You can still get federal loans, work-study, and possibly state or institutional aid. The key is to fill out the FAFSA, check your lifetime limits, and talk to your school’s aid office. With careful planning, you can fund your second degree without breaking the bank.
Frequently Asked Questions
Can I get a Pell Grant if I already have a bachelor’s degree?
Generally, no. Pell Grants are not available for a second bachelor’s degree, but there are exceptions for certain teacher certification programs.
Do I have to pay back financial aid if I already have a degree?
Loans must be repaid, but grants and scholarships do not need to be repaid. Your obligation to repay depends on the type of aid you receive.
How many times can I get financial aid for a degree?
There is no limit on the number of degrees, but there are lifetime limits on federal loans and Pell Grants, so you may not be able to get aid for every degree.
Can I get financial aid for a second master’s degree?
Yes, you can get federal loans for a second master’s degree, but you must be enrolled at least half-time and meet other eligibility requirements.
Does having a degree affect my FAFSA eligibility?
Having a degree does not affect your FAFSA eligibility, but it may affect which grants and loans you qualify for.
