Financial Aid for Online Degrees: What Are Your Options?

Facebook
Twitter
LinkedIn
Pinterest
Tumblr
Telegram
Financial aid for online degrees
Financial aid for online degrees is available through federal and private sources. Explore your options for grants, loans, and scholarships to fund your education.

Online students have access to the same financial aid options as students who attend classes on campus. Scholarships, grants, loans, and work-study programs can all help pay for an online degree. The first step for most students is the Free Application for Federal Student Aid, known as FAFSA.

FAFSA is the form the U.S. government uses to decide what federal aid a student can receive. To qualify, students must meet federal eligibility rules, which include citizenship or eligible noncitizen status, and they must enroll at an accredited school. If you are new to the process, start with what FAFSA is and how it works.

Federal student loans come in several types. Subsidized loans are available to undergraduates with financial need and do not collect interest while the student is enrolled. Unsubsidized loans are available more broadly, but interest starts adding up right away. Direct PLUS loans and consolidation loans are other federal options, each with its own terms.

Grants are another major source of aid, and they do not have to be repaid. Pell Grants provide funding to students with the greatest financial need. State governments, colleges, and nonprofits also offer grants with their own eligibility rules.

Scholarships come from private donors, organizations, and schools. Some are based on grades, some on financial need, and some on career interests or background. Applying early and broadly improves your chances. Graduate students can look for awards aimed at their level, including scholarships for online master’s degrees.

Federal work-study programs pay students for part-time work, often on campus or in community service roles. Employer tuition assistance is another option worth checking, since many companies help pay for job-related education.

The financial aid office at the school you choose can help you sort through these options. For more guidance, see tips for getting the most from your financial aid.

Related Posts
AFP

How To Maximize Your Membership Benefits With The Association For Financial Professionals (AFP)

The Association for Financial Professionals, or AFP, is a professional society for people working in treasury and corporate finance. Membership is worth more when you use it on purpose instead of just paying dues. AFP sponsors two well-known certifications: the Certified Treasury Professional (CTP) and the Certified Corporate Financial Planning and Analysis Professional (FP&A). Both require a mix of education and experience, plus ongoing continuing education to stay certified. Read the current requirements on the AFP site before you apply, since they change. If you want a closer look at how the two credentials fit together, see this article on the combined value of CTP and FP&A certifications. AFP describes its annual conference as the largest networking event for corporate finance professionals in the world. If you go, pick sessions that match your current role instead of wandering the halls. Plan in advance who you want to meet and what you want to ask them. Local AFP chapters are worth your time too. Chapter meetings are smaller than the national conference, so it is easier to build real contacts. The online community works the same way for practical questions between events. Use the research on the AFP website. The reports and benchmarking data give you context for decisions at work and useful material for job interviews. Webinars and online courses fill the gaps between conferences. Many of them count toward the continuing education hours your certification needs. For a broader view of where these credentials can take you, read about career opportunities in FP&A. If you want formal study to back up the certification path, a Master of Science in Business Administration covers much of the same ground in finance and management.

Read More
Education

Is IACBE Accreditation Good for Universities? A Comprehensive Review

The International Accreditation Council for Business Education, or IACBE, accredits business programs at colleges and universities. Founded in 1997, it is recognized by the Council for Higher Education Accreditation, known as CHEA. Its approach is mission-driven and outcomes-based, which means programs are judged on student learning results rather than on inputs alone. For a university, IACBE accreditation brings outside review of its business programs. The process asks the school to measure how well students learn and to keep improving the curriculum, faculty development, and student services. Schools that are serious about teaching tend to find this a good fit. Students benefit in practical ways. An accredited program has documented learning goals and regular assessment, so you can see what you are expected to learn. Employers also recognize programmatic accreditation as a sign the school takes quality seriously. For a fuller picture of the basics, read what IACBE accreditation is and why it matters. IACBE is often compared with AACSB and ACBSP, the other CHEA-recognized business accreditors. AACSB puts more weight on research output, while IACBE focuses on teaching and learning outcomes. Neither is better in every case; the right one depends on the school’s mission and resources. This accreditation debate walks through the trade-offs in more detail. There are real costs. Application fees, the self-study, a site visit by peer reviewers, and ongoing reporting all take staff time and money. Schools should weigh those costs against the gains in program quality and outside credibility. This guide for institutions explains the steps a school goes through. In the end, IACBE accreditation suits schools whose main purpose is teaching. It gives structure to continuous improvement and a recognized mark of quality for business programs. For students comparing programs, see the value of IACBE accreditation for business schools for more on what it means in practice.

Read More
Request Free Info