Have you ever thought about going back to school? Many parents have, for various reasons. Maybe you weren’t ready for college when you were younger or maybe you tried and got burnt out. Whatever the reason is, a number of adults decide that this time in their life is right for going back to school. There many reasons to consider enrolling in college now.

1. Repayment Terms are More Lenient Now

President Obama recently used his executive power to take steps to make college loan repayment easier and more affordable for students, thus decreasing the likelihood of default. The new measures will allow borrowers to cap total loan payments to only 10% of discretionary income. Also, there are income based repayment plans for those eligible, and those will loans from more than one source can have their loans consolidated into one easy payment.

2. It’s Worth the Time for Career Advancement

Going back to school right now, when you’ve got household, work and parental duties may seem like too much to add to your plate, but the sacrifice is likely to be worth it in the end. A college degree or certification may be just what you need to advance in your career or to switch to another line of work. Maybe you’re even thinking of starting your own venture. The time has never been better to start a business with all the tools and capabilities the internet has to offer. College courses can provide you with the knowledge and skills to move forward with your dreams.

3. You’ll Become a Better Person

College teaches so much more than just a skill or trade. You’ll learn a wealth of information beyond the academic by returning to school at this point in your life. College students learn leadership and interpersonal skills. They also make connections at college that will benefit them down the line. That favorite professor or fellow classmate may be just the reference or contact you need to score the perfect job for you. Going to school allows you to do something for yourself, beyond your family, and that can do wonders for your sense of identity and self-confidence. You’re like to improve your critical thinking, negotiation and problem solving skills as a result of your college studies, as well.

4. You’ll Model Important Skills for Your Kids

Going back to school shows your children that you work hard for what you want. They’ll see you studying. In fact, it’s great to sit down and do homework together. Your kids will know you value education, not just for them, but for yourself as well. You’ll have the opportunity to model positive work habits in a way that’s different from what they’re accustomed to seeing from you. Celebrating your success at graduation will be even more meaningful knowing that you’ve taught your children so many valuable lessons.

5. It Could Improve Your Current Financial Situation

Many families have been hit hard during these financial times of turmoil. If going back to school has been something you’ve been thinking about anyway, now could be the perfect time to enroll. As mentioned earlier, financial aid repayment terms are becoming more flexible. If you are able to show your school’s financial aid department that you are currently experiencing financial difficulty, it’s likely you will qualify for assistance that may pay for your classes as well as providing a bit more money to help with everyday expenses while going to school. Every person’s financial aid package is different, and you shouldn’t apply for aid simply as a way to come into some money. However, if you were hoping to become a student and would benefit from some additional funding, financial aid can sometimes help. Most money will need to be paid back, and the decision to borrow funds should not be taken lightly. Speak with a knowledgeable financial aid representative at your school for more information about your personal situation.

Going back to school is a decision that will change your life forever. It’s exciting to think about the ways it can change things for you. Consider these reasons when deciding whether to enroll in school and go with your gut. You’ll make the right choice!