Pursuing a Second Associate’s Degree? Read Up on What You May Qualify For.

Do you have an interest in completing a second associate’s degree? If so, then read carefully, as your federal financial aid options may look drastically different compared to those for your first associate’s degree.

As often happens in financial aid, your eligibility for a Pell Grant award “depends” on your situation. For instance, a community college that enrolls in a second associate’s degree program may qualify for an additional Pell Grant award. However, undergraduate students who have already earned a baccalaureate degree and desire an associate’s degree for upskilling will not be eligible for an additional Pell Grant award. Other eligibility requirements for a Pell Grant award remain, such as the program’s lifetime eligibility usage limit. Consult with a financial aid counselor on your best course of action when determining your eligibility for a Pell Grant award when pursuing a second associate’s degree.

Students interested in federal student loans will have fewer restrictions than those receiving a Pell Grant award when pursuing a second associate’s degree. The loan amount you can receive is dependent on several factors, including your lifetime aggregate loan limit for that division. An enrollment status of half-time is the minimum requirement for a student to receive any federal student loan at the undergraduate level. Further, coursework that does not apply to your second associate’s degree will not be eligible for any federal student aid.

Students who have previously received federal student loans must also maintain good standing with their loan servicer to be eligible for additional federal student aid. Defaulted loans will disqualify a student from receiving federal student aid until the student resolves the default with their loan servicer. Financial aid offices cannot certify any federal student aid until the student resolves the defaulted loan. There are no exceptions to this federal requirement.

When considering a second associate degree, remember the following:

• If you’ve already earned a bachelor’s degree elsewhere, you’re unlikely to receive any more assistance through the Pell Grant program.
• If you’re encroaching on your aggregate loan limits, you may have limited funding options from a federal student loan perspective.
• You must meet all other eligibility requirements on the FAFSA form to receive any federal student aid assistance.
• You can always contact a school’s financial aid office to review your funding options for a second associate’s degree.