Financing University Online Degrees

University Online Degrees

One of the myths about university online degrees is that financial aid is not available for these programs. Well, just as financial assistance is possible for students pursuing degrees in traditional brick and mortal institutions of higher education, is possible for students enrolling in programs seeking university online degrees.

Most financial aid available to post-secondary students comes from the federal government. The aid the government provides usually comes in the form of work-study, grants and low-interest loans. To receive such aid, a student must fill out the Free Application for Federal Student Aid, which can be found on the United States Department of Education website. (Almost any internet search will help you quickly locate the site.)

There are additional requirements, besides financial need, that a student should meet in order to receive federal financial aid. These requirements include:
Possession of a high school diploma or evidence of passing a GED test If applicable, being currently registered with the Selective Service Being enrolled in an eligible institution (This is often determined by an institutions accreditation status. In order to be eligible to have enrolled students receive federal financial aid, an institution must meet specific guidelines. To determine if the program you are interested in meets these criteria, you may ask directly if it is accredited or check on the United States Department of Education website for further information.) Being enrolled in a degree or certificate program Possession of a legitimate Social Security number Be a United States citizen (In some situations, non-U.S. citizens may be eligible.) Satisfactory academic progress while enrolled in school.

Some of the federal aid programs you may find in an institution offering university degrees online include (but are not limited to): Pell grants, Federal Supplemental Educational Opportunity Grants, Work Study, Stafford Loans and Perkins Loans. Remember, not all universities may participate in all programs, but it may certainly be worth a call to their financial aid office to learn more.

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University Online Degrees

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