Yes! Financial aid is available to students seeking an online education. Sometimes the most frightening aspect of deciding whether or not to attend college is the ability to afford the tuition and fees. While challenging, covering the costs involved can be defrayed by exploring your financial aid options. You must meet some basic requirements in order to be eligible for some types of student financial assistance, for example, you must have a high school diploma or equivalent, be a United States citizen or a green card holder, possess a valid Social Security Number, if you are a male between the ages of 18 and 25, be registered with Selective Service, and demonstrate the need for the financial aid. In addition, you must fill out the FAFSA (Free Application for Federal Student Aid) and be enrolled, at least, half-time and maintain a sufficient grade point average. Your school’s financial aid department, along with multiple online sites dedicated to helping the student understand and fill out the form correctly, can help you with this process so you are definitely not alone in this quest.
The majority of financial aid comes from the federal government, but other loans and grants (grants do not have to be paid back) are also available through the state, the college itself and from private lenders such as banks, credit unions and private foundations. You may also find reduced tuition rewards programs and cash pay plans from colleges that offers these to their students. In addition, private scholarships from clubs, organizations and religious groups also are available and definitely worth seeking out.
For a complete synopsis of the financial aid world, we created for you a super informative infographic entitled “Financial Aid and Online Education” which takes you step by step through the process of obtaining financial aid and what it could mean for you and your family.