Consumer

TEXAS (CBS) ― Sam Benavidez told CBS Station KTVT-TV that he is going back to college. He decided to enroll at the University of Texas-Dallas for his master's when he couldn't nail down a good job with his bachelor's degree.

"I just really wasn't happy with where I was going money-wise," he reflects. "Eventually I just had to take a job that didn't pay a lot because I had to pay my bills."

Benavidez is like a growing number of recent grads who are feeling the pinch of a recessed economy. They've learned that as the economy shrinks, so does the number of available jobs.

"To me, it just seemed better sense to go back and try to get another degree and move that way instead of working two jobs."

More than $50,000 in student loans now swamps the North Texas man.

That's where Ben Kaplan comes in. Kaplan's book "How To Go To College Almost For Free" has helped many budding students find money in places they never would've imagined. His work now is aimed at getting people through the education process in this tough economy.

"There are a number of scholarships for adults going back to school, particularly for retraining," Kaplan explains. "In fact, the average age of going back to college is actually over 25 now."

For those students, Kaplan advises prospective students to start with the basic scholarships.

"A lot of people don't realize that you can apply for a lot of the same scholarships as a traditional-aged undergraduate," he points out. "Many scholarships do not have age restrictions."

He also recommends using the resources the financial institutions offer. For instance, many colleges and universities that have a high percentage of adult students on campus have an office specially designed to help meet their needs. These offices may have information on specific scholarships aimed at adult students.

Parents who also are already paying for a child to go to college, can use that to their advantage, Kaplan adds.

"There is a process for professional judgment where, essentially they can take into account your special circumstances," he explains.

Kaplan reminds adult students to tell the school that there are now two students in the household, which should result in additional financial aid offers.

The professional judgment also works if you've been recently laid off, he adds.

"Your financial aid award is based on last year's income, but obviously, something has dramatically changed," Kaplan says. "You can't count on last year's income. So that's what needs to be presented to the school."

Benavidez says he'll definitely be looking for scholarship information now and hopes his choice for more schooling will be the right one down the road.

"I hope to get steady, solid employment where I can pay my loans and be able to live," he says.

Despite huge fluctuations in the stock market right now, Kaplan says this is the time to invest in a 529 savings or similar program. The Texas Guaranteed Tuition Plan replaced the Texas Tomorrow Fund, which locked in the cost of tomorrow's college tuition and required fees at Texas public colleges and universities at current prices. Enrollment is closed, but was replaced by Texas College Savings Plan.

Visit Kaplan's Website for more savings options and scholarship information.

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