There are hundreds of resources available to students who want to continue their education and receive an online college degree but are unable to pay for it up front. Whatever route you’re choosing for student financial aid – an unpaid monetary gift or re-paid financial assistance – funding your way through school is achievable. Money no longer needs to be a factor in your decision to return or even go to school the first time around!
To decide which type of student financial aid would suit your educational pursuits, the following information on loans and scholarships should come in Làm bằng đại học handy. Before enrolling at any school to acquire your online college degree, however, you need to make sure that it’s accredited, the degree program you’re interested in is eligible for student financial aid, and you’ve discussed your situation with the college’s representatives in the financial aid office.
FAFSA: Student Financial Aid
The Free Application for Federal Student Aid, or FAFSA, is an office of the U.S. Department of Education that provides student financial aid or monetary assistance to eligible individuals who wish to continue their educations well beyond high school and receive a traditional or online college degree. FAFSA strives to encourage all Americans to achieve a higher education and realize the power that it has within our society.
By partnering with a large number of postsecondary schools in the U.S., FAFSA is able to play a vital role in ensuring that interested individuals have ample student financial aid to continue their schooling and receive an online college degree. The program, which processes 14 million applications each year, distributes more than $80 billion per year in student financial aid to eligible applicants (1). To apply online or learn more, please visit FAFSA’s website.
In essence, student loans are low-interest monetary assistance from the government to help cover the cost of education (tuition) as well as books, housing, and incidentals. However, upon graduation and receipt of your online college degree, the loan must be re-paid. There are three types of student loans: federal student loans doled out to the students themselves; federal student loans to parents, which are normally referred to as PLUS (Parent Loan for Undergraduate Students); and private student loans, which are funded by banks and/or financial companies rather than the government.
Advocates for private student loans say that this type of student financial aid combines the best of the low-interest rates, but with a higher loan amount and a longer grace period. Private loans have two methods of disbursement of funds – school to channel (money is distributed to the school) and direct to consumer (money is given to the individual to use as he or she sees fit). Before deciding which type of loan is appropriate for your particular situation, do your homework! Federal student loans require that you are enrolled in college for a certain amount of hours each semester, while private student loans begin accruing interest rather quickly (2).