More and more students in their 30s and up are going back to school, despite myriad obstacles they face.
In the years between 1946 and 1960, over seventy-five million Americans were born, eventually earning designation as “Baby Boomers.” Baby Boomers grew up in a time of dramatic historic change, and they have often altered the cultural face of America by their actions. And now, they’re changing the face of higher education, as well.
With older Boomers now reaching retirement age, they—and the companies they work for—are facing a dilemma: What do you do when you’re 50, 55, 60 or even 65, and don’t want to retire?
The solution for many has been to go back to graduate, business or law school – or, dare we say, even college.
Just one look at the census statistics confirms this fact: the National Center for Education Statistics (nces.ed.gov) shows that, in 2005, the total fall enrollment in degree-granting institutions for those 35 and older was 3.08 million Americans in 2005. That includes both graduate schools and college. The projected enrollment of that same demographic is expected to be 3.35 million by the year 2017.
In other words, Boomers, and their slightly younger generational counterparts, are poised to be the largest group of degree-enrolled citizens outside of the traditional 18-22 year old demographic.
So what does this mean?
As Americans get older, they’re no longer content with simply waiting their turn for shuffleboard. They are staying at their jobs longer, aiming for higher salaries and looking for career advancement well into their sixties, seventies and, sometimes, eighties.
With this new employee trend, companies have been forced to consider and adapt to this new demographic shift and many have taken up the challenge.
IBM, for example, has a long-standing tuition reimbursement corporate benefit for older employees seeking to go back to school and obtain degrees in their respective fields. This includes even Ph.D. programs, a huge boon for those who already have a college degree and are seeking specialization.
United Technologies Corporation (UTC) has an Employee Scholar Program for all employees who go back to school—and gives employees a gift of $10,000 in UTC stock upon graduation.
Even the government is getting into the action: In 2007, California Governor Arnold Schwartzenegger helped create EnCorps, a non-profit corporation dedicated to helping professionals close to retirement age become teachers upon their exit from Corporate America.
Returning to school isn’t as easy as it sounds though: For many older college and graduate school applicants, the road to a higher education comes filled with little (and sometimes not-so-little) obstacles to overcome.
Standardized tests, such as the SAT, GRE, GMAT, and LSAT, have to be taken in order to apply to many college and graduate programs, and scholarship aid can sometimes be dependent upon those scores. In addition, much of the state-funded financial aid is reserved for those students fresh out of high school, and older applicants may not qualify.
Also, as the number of students—young and old—applying to college and graduate school increases, these older applicants will face some stuff competition.
Even though the number of applicants is rising, the number of available seats remains the same, therefore decreasing the percentage of applicants admitted to institutions. This applies not just to college (where the vast bulk of older students are heading) but also to graduate, business, and law school especially, where a more experienced, older applicant pool can present intense competition.
Older applicants, additionally, may also have burdens that 18-year-olds don’t even think of: families, work schedules, mortgages, and assorted bills, for instance, have to be juggled before they can fully undertake their education. Careful consideration of the personal, financial, and professional implications of going back to school is something that all older applicants must think about as they mull over their educational future.
Although it is truly heartening to realize that, even as we get older, the American frame of mind is such that it calls for us to continue growing, learning and creating new experiences. It’s is worthwhile to note that going back to school has many ramifications outside of simply making time for classes and paying tuition.
Not simply a safe haven, going back to academia can give these older applicants a significant edge in the workforce over younger, and more inexperienced, applicants.
