Find out how much an online degree will cost. Examine your choices for scholarships and financial help for college students.
Much of the financial help available to on-campus students is also available to online learners.
To find out whether they qualify, students must submit the FAFSA.
Grants and scholarships offer a range of need- and merit-based financial aid options.
Online programs are a practical learning choice for individuals who already have employment and family responsibilities because of features like flexible scheduling. More than 61% of students registered for at least one course based on online learning in the fall of 2021, according to the National Center for Education Statistics.
It is common for both on-campus and online college students to require financial help in order to complete their degrees. In addition to extra financial aid designed specifically for online learning, remote learners may be eligible for the same need-based grants and scholarships as on-campus students.
The extensive article that follows examines your choices for financial help to attend a reputable online university.
Financial Aid for Online Students
Loans
For online students seeking college financial help, loans are frequently seen as the last option. College loans have repayment obligations, unlike grants and scholarships. The ED distributes loans indirectly in addition to directly offering subsidized or unsubsidized loans. Additionally, there are private loans and Direct PLUS Loans (for parents).
Scholarships
Scholarships can be granted based on merit or other non-need-based factors, and they are not repaid. Students who want to apply for scholarships must conduct independent research. For each renewal cycle, several scholarships require students to continue to be eligible, for instance by keeping a minimum GPA.
Grants
Though some grants are given based on merit, most grants are given out based on need. Grants do not need to be paid back when the student finishes their degree, much like scholarships do. With initiatives like the Federal Pell Grant, the ED is the biggest supplier of student grants. Students who have a financial need for federal grant funding are automatically considered while completing the Free Application for Federal Student Aid (FAFSA).
Fellowships
Often, fellowships are given to graduate students. This merit-based prize is usually given to students who want to pursue graduate or specialized postgraduate work in their field of competence. In order to be awarded a fellowship, candidates frequently need to show that they have the ability to advance their field after graduation.
Work-Study
Schools that take part in the Federal Work-Study Program can compensate their students for working part-time. Schools try their best to place students in employment relating to their field of study, while job availability varies. Work-study programs might offer hourly or salaried employment, either on or off campus. Financially needy graduate and undergraduate students are eligible.
How to Complete the FAFSA
Financial aid possibilities for online students are generally perceived by applicants as being more restricted than those for on-campus students. Actually, most distance learners are eligible for the same financial help as their on-campus counterparts. The first step for online students to find out if they qualify for financial help is to complete the FAFSA.
The FAFSA is available online to prospective students starting on October 1 and ending on June 30. In addition to providing their federal tax information, learners must authenticate themselves using documents such as their Social Security number and driver's license.
How to Apply for Scholarships
Scholarship applications can seem intimidating. Making a system, nevertheless, can aid in streamlining the procedure. Take a methodical approach by getting started early, doing your homework, and according to the application guidelines. It can help applicants for scholarships feel less anxious and be more successful.
The following hints and techniques will make the procedure run more smoothly:
Make a plan: It's never too early to begin your scholarship search. Pretend that every application will take longer than anticipated. For more wiggle room, think about setting a mock deadline earlier than the actual application deadline. To find scholarships, check with your school, online resources, and local organizations.
It's All About Organization: Whether you want to apply for two scholarships or twenty, making the most of your time and minimizing the confusion of the college application process can be achieved by maintaining organization. Create a to-do list and supplies list to prevent repeating tasks.
Do Extensive Research: When you come across scholarships that might be worth your while, spend some time reading up on them. Next, instantly classify them as "yes" or "no" items. To prevent losing out on a scholarship that would be a perfect fit for you or wasting your time on something you are ineligible for, be sure you are aware of the requirements for each grant.
Pay Close Attention to Instructions: Scholarships, like college applications, have requirements for particular items and data in order to assess eligibility. You can be declared ineligible due to missing materials or just disqualified for not following instructions.
Enhance Your Paper: Essay-based scholarships let applicants highlight their advantages and set themselves out from the competition. Spend some time carefully constructing an answer that is specific to each chance. Always edit your work several times to check for typos and grammar mistakes.
Scholarships for Online Students
GetEducated.com Distance Learning Scholarship
Eligibility: Applicants must be enrolled in an accredited online degree or certificate program and possess a minimum 3.0 GPA. Awards are based on both merit and financial need.
Award Amount: $1,000
Deadline: October or March
Study.com Undergraduate Distance Learning Degrees Academic Scholarship
Eligibility: Applicants must be enrolled in an accredited distance learning program, with plans to continue enrollment through the following year and at least 30 semester or 45 quarter credits yet to be completed.
Award Amount: $1,000
Deadline: November
Unigo Education Matters Scholarship
Eligibility: Applicants must be 14 years or older, be a legal U.S. resident, and reside in one of the 50 U.S. states or the District of Columbia.
Award Amount: $5,000
Deadline: November
Can I get a student loan for online courses?
Indeed, loans are available to students for online courses. Financial help is available to students participating in online degree programs at colleges. Students have two options for obtaining student loans: they can apply for federal loans or look into private lenders.
Before committing to take out a student loan, consider your options. Financial aid of this kind frequently requires a lengthy commitment. Look into other sources for financial aid or with a financial counselor regarding student loan choices.
How can I get money for college without student loans?
In addition to student loans, there are other forms of financial aid available to students, such as grants, scholarships, and university tuition support. A lot of financial assistance choices include requirements for applicants to satisfy specific academic benchmarks and complete an application.
To find out how much financial help you can get from the federal government and the university, start by completing the FAFSA application. Investigate the scholarships offered by independent organizations and the university.
Does the FAFSA cover online colleges?
Federal funding is available to students enrolled in the majority of authorized online programs. Students ought to find out if their school is accredited. They can also consult with an advisor to find out if financial assistance is available for their online program.
Send in your FAFSA by June 30th at the latest. Give yourself plenty of time to complete the FAFSA application, which asks for comprehensive financial information.
What is the cheapest online college?
Golden Gate University-San Francisco and the University of Florida-Online are two of the most reasonably priced online universities. Students from all throughout the nation can enroll in these colleges' online programs. The cost of tuition may differ based on the degree program and whether a student resides in the state or out of it.
Financial assistance and scholarship opportunities allow students to always reduce the cost of tuition. Get in touch with the admissions office of your potential university to learn about the financial assistance options.