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FINANCIAL AID
Flexible and Affordable Ways to Pay for your Education |
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Congratulations on considering an education beyond high school. Whatever form this post-secondary education takes - whether it's a university, trade school or community college - you have to start thinking about how you are going to pay for it. The cost of education continues to rise. But if you are determined to achieve the success that a college degree can bring, the investment is worth it. Still, we understand that managing these costs can be a challenge.
Online and multi-campus based universities listed on this site offer many financial aid options to help you meet your tuition needs. You may be qualified for one or more of them. We strongly encourage you to ask the Enrollment or Admissions Counselor when contacted about your financial aid options. These counselors are well-versed in these options and guide thousands of students through this seemingly daunting task every year. Your financial aid options are more within your reach than you probably know!
These options include: |
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| Grants & Scholorships |
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There are many scholarships available for the career-oriented colleges and online schools that we list on this website. Ask about the Federal Pell Grant. Unlike a loan, it doesn't have to be repaid. Generally, Pell Grants are awarded only to undergraduate students- those who haven't earned a Bachelors or graduate degree. Pell Grants are usually a foundation of federal student aid, to which aid from other federal and nonfederal sources might be added. If you're eligible for a Pell Grant, you'll receive the full amount you qualify for, and there is a maximum allowance of slightly more than $4,000 per award year. How much you get will depend not only on your financial need but also on your cost of attendance, the funding levels of the school you are attending, whether you're a full-time or part-time student, etc. You may receive only one Pell Grant in an award year, and you may not receive Pell Grant funds from more than one school at a time. After you apply, qualify and are awarded your Pell Grant, your school will credit your account, pay you directly (usually by check), or combine these methods
There is also the Federal Supplemental Educational Opportunity Grant (FSEOG). This particular grant is for undergraduates with exceptional financial need-that is, students with the lowest EFCs. EFC stands for Expected Family Contribution and measures your family's financial strength. The EFC is used to determine your eligibility for federal student aid. The formula for the EFC calculation is established by law. Priority for the FSEOG is given to students who receive Federal Pell Grants, and, like the Pell Grant, the FSEOG doesn't have to be paid back.
Every eligible student might not receive an FSEOG, however; students at each school will be awarded these funds based on availability at that school. Awards are usually between $100 and $4,000 a year, depending on when you apply, your need, the funding level of the school you're attending, and the policies of the financial aid office where you attend school. |
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| Federal Financial AID |
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| Federal Student Aid (which encompasses the Federal Grants mentioned above) can definitely help assist you in paying for your education. In fact, they help more than 10 million students each year. With favorable legislation in recent financial aid laws, more online university students now qualify for Federal Stafford Student Loans, Federal PLUS Loans, and Federal Perkins Loans. Remember, these are loans, and as such, must be paid back. The good news is that they typically charge lower interest and provide a "grace period" of several months after graduation, giving you time to secure a job and get back on your financial feet. Again, ask the Admissions Counselor if these are included in some of your financial aid options. The schools typically do not charge their students for processing financial aid applications.
Many online universities offer a search service to help you to find the grants and scholarships for which you may qualify. |
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| Private Loans |
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| Online universities can put you in touch with national lenders who offer private loans to cover your tuition and other educational expenses. Ask the Enrollment Counselor if this is an option right for you. |
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| Company Reimbursement and Thirdparty Billing |
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| Many employers will pay some or all of an employee's tuition for continued education. It may be a benefit your company offers that you don't know about, so it's certainly worth checking with your HR department. Often, the school will help you to set up payment plans for Corporate Reimbursement or Third Party-Billing. |
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| United States Armed Forces Tuition Assistance |
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Members of the United States Armed Forces are eligible for up to $4,500 per year in tuition assistance from their branch of service. In addition, some of the schools we list offer other benefits or assistance to veterans, military personnel and their immediate families. Just make sure to ask if there are any additional financial assistance and/or tuition cost breaks you may qualify for.
We found the following link created by the Department of Education. It is an excellent resource to learn more about Federal Student Aid:
http://studentaid.ed.gov/students/attachments/siteresources/StudentGuide.pdf
Please also note that you do not need to have financial aid in place before you apply for an online degree. Most of the colleges & universities we feature have financial aid referral programs for incoming students, and will help you to get in touch with the resources you need to finance your continuing education. |
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| Information Sources: The information we provide herein is obtained through a variety of government sources (e.g., Department of Education, Department of Labor, the United States Census Bureau, Bureau of Labor Statistics, National Center for Education Statistics, and The Integrated Postsecondary Education Data System among others). We take great strides in accurately presenting this information which is available in the public domain. In most cases, we used the latest data available which generally is up to 2005. This information is presented without warranty. |
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