I currently have a bachelor's degree and after 2 years of working, I'd like to return to school and study

Question

for 2nd bachelors but I was also told that studying for a Masters will have more financial aid. Does anyone know if I'm going to have more grant? I've tried to correct the status from Bachelor's to Master's on my FAFSA but the score at the end remained the same, does that mean I still get the same amount of grant? Is there any scholarship for returning student? The thing is, if I have to study, I want to do it full-time since I don't want to waste time, but I'll have to give up my job, that means no income for 2 years! FYI, It's a private university!

Also, does anyone know if I'll get any grant if I go study abroad (under an exchange program the school offers)? Do I only pay the tuition for my own school or do I have to pay both school at the same time?

Any help would be appreciated, thanks!!

Answer 1

Graduate students do not qualify for ANY federal grants, and most often do not qualify for state grants.  Grad students are mostly only able to receive Federal Stafford Loans, however you can receive about $20,000 a  year on Stafford Loans.  Other then taking another type of loan, you will have to check with your school and search for scholarships.

Answer 2

You cant get the federal Pell grant once you earn a bachelors degree.  You might qualify for a state grant, but it depends on the state.  Your EFC will be the same no matter what educational degree you want to get, btw.  

Consider getting a masters instead.  Two bachelors degrees is about as useful as two high school diplomas.  You want to go UP in educational levels not lateral.  Plus you can get fin aid for it very easily.