Seniors Return to School to Understand Insurance, Retirement, and Money
Financial literacy is extremely important for seniors who are nearing or already in retirement. The complex world of insurance, retirement, and money becomes even more complex to seniors as the world moves to the Internet.
Seniors of all ages can benefit from receiving additional education to better understand the retirement landscape.
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Locating an Education Program
Senior education programs vary by city and state, so checking with agencies, associations, schools, and community-based groups in your area will help you find programs.
The U.S. Administration on Aging and each state’s local department offering community-based education programs for seniors. Find your local agency by searching online or by calling 1-800-677-1116. Contact your local agency to learn about available programs on topics like insurance, retirement, tax and estate planning, and other financial matters.
Many colleges and universities, even state and community colleges, have programs designed specifically for seniors. To find a school near you, you can use the National Center for Educational Statistics online search tool. The tool allows you to find schools, colleges, and libraries by location, distance, or name. You might consider searching for schools and colleges located near family and friends. Not only would that give you the opportunity to attend a different school, you’d also get a chance to spend time near loved ones. Once you locate schools near you, you can contact them to find out if they have education programs that are tailored specifically for seniors.
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How to Receive Financial Aid
To find out about financial aid available for senior adults, check with your State Director of Adult Education. The U.S. Department of Education website has a list containing contact information for the directors in each of all 50 states.
To receive government financial aid including many needs-based grants and loans, you need to fill out the Free Application for Federal Student Aid (FAFSA). If you don’t fill out this application, you may have difficulty receiving financial aid.
If you attend a program or class at a major college or university, check with the financial aid office to learn about financial aid available for seniors returning to school.
Education Programs Available
There are a host of federal and state agencies that offer educational programs for seniors both online and offline:
The Internal Revenue Service (IRS) has a Tax Counseling for Elderly (TCE) program that offers assistance to seniors during tax filing season. To find out more information and locate a site near you, call 1-800-829-1040.
AARP, an organization for seniors 50 and older, also has a tax counseling program aimed at seniors. Call 1-888-227-7669 for more information.
The Federal Citizen Information Center (FCIC) is a government agency that deals with common consumer issues. For example, their publication 66 Ways to Save Money teaches seniors how to save money on things like insurance, transportation costs, housing and utilities. You can visit their website for tips or download the complete publication (PDF viewer needed). The FCIC’s page on estate planning and wills can also be informative for seniors. For more free publications from the FCIC visit their media promotions page.
USA.gov has a detailed list of money and tax information for seniors.