||by Jennifer Hernandez
Wednesday, January 20, 2016
Yes, financial assistance is available to students pursuing their degrees online, just like their on-campus counterparts. To understand the full scope and breadth of these options, it is essential to research all financial aid avenues at the federal, state and private levels. By combining multiple forms of financial support, tuition costs can be significantly reduced.
These options include:
- Federal aid programs, such as Federal Perkins Loans and Stafford loans
- State financial assistance, as most states administer student loan programs with terms similar to the federal loan options
- Loans from private lenders, such as banks, foundations and credit unions
- College and University sponsored tuition reduction programs and merit scholarships
- Federal grants, such as Pell grants, which are typically need-based do not need to be repaid.
Countless private scholarships provided by organizations across the country that can be specific to an individual’s background, interests or talents.
It is also important to remember the many financial assistance options for specific segments of the population, including assistance for working mothers, veterans, under-represented populations, and many more.
Regardless of whether you apply for a grant or a scholarship, it can be confusing when considering which option is best for you. Work with your schools financial aid office and conduct research online to make sure you have every financial support option at your disposal.