Going back to school is a big decision, but going back while raising kids? That’s next-level. Whether you’re finishing a degree, starting one for the first time, or pursuing a career change, balancing parent life with college is no small task—especially when it comes to money.

The good news? With the right tools and strategies, you can build a plan that works for both your education and your family. From budgeting tips to financial aid options, here’s how to make college financially doable as a student and a parent.

Know Your Real Costs (and Plan for More)

College isn’t just about tuition. When you’re parenting at the same time, your budget needs to cover a wider range of costs, including:

  • Childcare

  • Transportation

  • Food for more than one

  • Healthcare

  • School supplies (for both you and your kids)

  • Lost wages if you reduce work hours

Start by listing both fixed expenses (like rent or daycare) and variable costs (like groceries and gas). Then factor in school-related expenses like textbooks, tech upgrades, and class fees.

Pro tip: Add a 10–15% buffer to your budget for surprise costs. Life with kids is rarely predictable.

Create a Budget That Works for Your Schedule

Your time is your most valuable resource. Build a budget that accounts for both money and time.

Here’s a simple framework to organize your finances as a student-parent:

Category What to Include
Income Job wages, spouse/partner income, child support, aid
Education Costs Tuition, books, fees, tech
Childcare Daycare, babysitting, after-school programs
Living Expenses Rent/mortgage, groceries, utilities, transportation
Savings/Debt Payments Emergency fund, student loans, credit cards
“Extras” Kids’ activities, school events, personal care

Look for ways to trim expenses temporarily—like pausing subscriptions or meal prepping—to stay on track while you’re in school.

Use Education-Specific Savings Tools

If you’ve had time to prepare financially, consider these savings tools designed to support your college goals:

529 Plans

While often used for kids’ college savings, 529 plans can also be used by adults for their own education. Contributions grow tax-free, and withdrawals for qualifying expenses (like tuition and books) aren’t taxed.

ESA (Education Savings Account)

Coverdell ESAs are another option, though they have lower annual contribution limits than 529s. These accounts can also be used for K–12 expenses if you’re managing multiple education levels in your household.

High-Yield Savings Accounts

If you’re saving in the short term, look for an online savings account with a higher interest rate to stash money for tuition, fees, or emergencies.

Tap Into Financial Aid—Yes, Even as a Parent

Being a parent doesn’t disqualify you from financial aid—in fact, it can open more doors.

Fill Out the FAFSA

The Free Application for Federal Student Aid (FAFSA) is your first step. It’s used to determine your eligibility for grants, loans, and work-study. If you have dependents and low-to-moderate income, you may qualify for:

  • Federal Pell Grants

  • State or institutional grants

  • Subsidized student loans

Your dependency status (as an independent student) and family size may increase the amount of aid you’re eligible for.

Apply for Scholarships for Parents

Many organizations offer scholarships specifically for parents returning to school. Look for awards targeted at:

  • Single parents

  • First-generation college students

  • Adult learners

  • Specific fields like nursing, education, or tech

Websites like Fastweb, Scholarships.com, and the scholarship sections of your school’s website are great places to start.

Consider Employer Tuition Assistance

Some companies offer tuition reimbursement or assistance programs. Check with your HR department—this benefit is more common than you might think, especially at large employers and healthcare systems.

Save on Childcare Costs

Childcare is often one of the biggest barriers for student-parents. Here are some ways to lighten the load:

  • Ask your school if they offer on-campus childcare or childcare subsidies

  • Look into Head Start or state-funded preschool programs for younger kids

  • Use Dependent Care FSA if offered through your job to pay for childcare with pre-tax dollars

  • Share childcare duties with other parent-students in your program

Some schools also have family housing or support groups that can offer informal babysitting help and community resources.

Go to School Part-Time, Full-Time, or Online—What’s Best?

The right schedule depends on your support system, finances, and time. Each path has pros and cons.

Schedule Type Pros Cons
Full-time Finish faster, access full aid options Heavier workload, less time for family
Part-time More flexible for work/parenting May limit financial aid eligibility
Online or Hybrid Learn on your schedule, no commute Requires discipline and strong time mgmt.

Online programs can be especially helpful for parents with young children or rotating work shifts.

Don’t Forget Health Insurance and Emergency Planning

When you’re juggling kids and classes, it’s important to be prepared for life’s curveballs.

  • Check if your school offers student health insurance that’s more affordable than your job’s plan

  • Build a small emergency fund for car repairs, medical bills, or last-minute childcare

  • Have a backup plan for who can help with the kids if you’re stuck in class or facing a family emergency

Even a few hundred dollars set aside can provide peace of mind during a tough semester.

Final Thought: It’s Possible—and Worth It

Going to college as a parent isn’t easy, but it’s absolutely doable. With the right financial plan, you can invest in your education while keeping your family’s needs front and center. You don’t have to be perfect—you just need to be prepared, persistent, and clear about your goals.

Your kids may not understand everything you’re doing now, but they’ll grow up watching your resilience, ambition, and drive. That’s an education in itself.

Sources

  • Federal Student Aid: FAFSA Guide for Independent Students

  • National Center for Education Statistics: Returning Adult Students

  • U.S. Department of Education: Financial Aid and Scholarships for Parents

  • Child Care Aware of America: Campus Childcare and Support Services

Related Content

Making the Most of Your Scholarships: A Guide to Maximizing Your Benefits

Winning a scholarship is an incredible achievement, but it’s just the beginning. Once you’ve secured funding, it’s essential to use it wisely and strategically. Learn how to stretch your scholarship dollars, stay eligible, and make the most of this opportunity for a...

How to Win Small Scholarships (And Why They Add Up)

When most people think of scholarships, they picture those big, full-ride awards that cover all four years of college. But here’s the truth: small scholarships — those $250 to $2,000 awards — can be just as valuable. In fact, stacking several smaller scholarships can...

Fast-Track Degree Options for Adults: Are They Worth It?

Going back to school as an adult can feel like juggling flaming swords—between work, family, and life, who has time for a traditional four-year degree? That’s where fast-track degree programs come in. Designed with adult learners in mind, these options promise to...

Online Degree Programs: Are They Worth It for Non-Traditional Students?

For adult learners balancing work, family, and education, online degree programs offer a flexible and accessible way to earn a degree. But are they really worth it? While online education has grown in popularity, it’s important to weigh the pros and cons before making...

How to Write a Winning Scholarship Essay

A strong scholarship essay can be the key to securing free money for college, but with so many applicants, standing out is essential. A well-crafted essay showcases your personality, achievements, and future goals in a way that grabs the reader’s attention. Learn...

Scholarships for Non-Traditional Students: Where to Look

Going back to school as a non-traditional student can be both exciting and overwhelming, especially when it comes to paying for tuition. Many scholarships are designed for recent high school graduates, but plenty of funding opportunities exist for adults returning to...

How to Build a Resume While You’re Still in School

Think you need a full-time job to start a resume? Think again. Even if you're still in school, you can build a strong, professional-looking resume that highlights your skills, achievements, and potential. The key is knowing how to spin your everyday experiences into...

Balancing Family, Work, and Education: Time Management Tips for Adult Learners

Going back to school as an adult can be rewarding, but it also comes with challenges—especially if you’re juggling family, a full-time job, and coursework. Finding time for everything without feeling overwhelmed is possible with the right strategies. Learn how to...

Financial Aid Tips for Adults Going Back to School

Why Financial Aid Looks Different for Adult Learners If you're an adult thinking about returning to school, you’re not alone—and you're definitely not out of options. Financial aid isn’t just for recent high school grads. There are grants, loans, scholarships, and...

The Best Free Online Resources for College Students

College can be expensive, but that doesn’t mean you have to pay for everything. From study tools to financial management apps, there are plenty of free online resources designed to help students succeed. Whether you need help with coursework, budgeting, or staying...

Check out these scholarships:

Lily Pabilona Emerging Entrepreneur Scholarship

The Lily Pabilona Emerging Entrepreneur Scholarship recognizes Asian American high school, graduate and post-graduate students pursuing a career in entrepreneurship.Scholarship Sponsor Against The Grain ProductionsAward Type $5,000 CashGender Eligibility AllOther...

Marine Corps Scholarship Foundation

Applicants for the Marine Corps Scholarship Foundation must be the child of an active duty or reserve U.S. Marine, a veteran U.S. Marine who has received an honorable discharge, or who was killed while serving in the U.S. Marine Corps. Children of U.S. Navy Corpsmen,...

Jo Caldwell Meyer Scholarship

Since 1989, WCA has donated more than $75,000 to support 50+ students in Central Texas via its scholarship efforts. Eligible Central Texas college students are encouraged to apply for the Jo Caldwell Meyer Scholarship.Scholarship Sponsor Women Communicators of...

Earl Woods Scholarship

Supporting high-potential students with demonstrated need and a commitment to community service, the Earl Woods Scholar Program goes far beyond financial assistance. Each Earl Woods Scholar also receives mentoring support, specialized internship opportunities, career...

CC Bank’s Young Scholars Scholarship

CC Bank's Young Scholars Scholarship offers up to five (5) $2,000 scholarships to students attending universities, colleges and other academic institutions across the U.S. Scholarship Sponsor CC BankAward Type $2,000 CashGender Eligibility AllOther...

George and Mary Josephine Hamman Foundation Scholarship

Each Spring, the Foundation awards seventy (70) scholarships to Houston area high school seniors for undergraduate study. The award is $18,000, disbursed over four years, and is awarded to high school seniors at the start of their senior year (home-schooled students...

Betty Hansen National Scholarship

The Danish Sisterhood of America is very proud of its Scholarship and Grant Program. We have four different scholarships, one of which presently offers eight awards per year, and one grant program offering ten awards annually – five are given in February (the “January...

Alyssa Otremba Scholarship

An Arbor View High School Clark County, Nevada, senior or college freshman with a 3.0 or higher GPA who participated in the AVHS Band or Color Guard and plans to or is currently attending an accredited four year post-secondary college or university may apply for this...

Greater St. Louis Art Association Scholarship

The Greater St. Louis Art Association is offering scholarships to college students in the St. Louis area who are majoring in Art. Scholarships are one-time awards up to $2500 per student. Scholarship Sponsor The Greater St. Louis Art AssociationAward Type $2,500...

AQHA Margaret A. Haines Telephony Scholarship

Ideal candidates have been a member of AQHA for at least one year who is attending an AVMA-accredited college of veterinary medicine; whose studies focus on equine medicine and or surgery, and has a minimum cumulative 3.0 grade point average. Scholarship Sponsor...

Jimi Hendrix Scholarship

The Jimi Hendrix Scholarship is open to returning guitar students at Berklee College of Music.Scholarship Sponsor Berklee CollegeAward Type $5,000 CashGender Eligibility AllOther Requirements/Criteria Geographic Criteria: USA Criteria / Requirements: College Sophomore...

Miami University (OH) Merit Scholarships

Miami University is pleased to offer merit scholarships to academically accomplished first-year, full-time undergraduate students who enroll on the Oxford campus for the fall semester. The application for admission is used to determine merit scholarship eligibility -...

Undergraduate Scholarship

Optimal is awarding need-based scholarships of $5,000 to current undergraduate college students. Scholarship Sponsor OptimalAward Type $5,000 CashGender Eligibility AllOther Requirements/Criteria Geographic Criteria: Legal residents of the United States (excluding...

Chicago Coalition for the Homeless Scholarship

Each summer, the Chicago Coalition for the Homeless awards college scholarships to graduating seniors who experienced homelessness while in high school. Scholarship Sponsor Chicago Coalition for the HomelessAward Type $2500 CashGender Eligibility AllOther...

Las Vegas Chinatown Scholarship

CCSD Nevada seniors of Asian descent who plan to attend an accredited college or university in Nevada may apply for this scholarship. Students who plan to major in Business will be given preference. A minimum 3.5 cumulative GPA is required. Two scholarships in the...
Skip to content