Once you make the decision to further your education, either through an online college or a university, you main concern will likely be how to come up with the money needed for your tuition.
Making college affordable is the goal of many. There are numerous types of grants and loans in place and available to particular students, we have broken down the types to help you start your search without becoming overwhelmed.
First, a student loan is one that must be repaid. Obtaining grants is the ideal method, as they do not need to be repaid, but are “granted” as a gift to students by companies and individuals. Grants are searchable by keywords, so entering your sex and ethnicity, military background, etc during your search will show you grants you may not have known existed that you are qualified for!
General grant categories:
Student specific (type of student)
Subject specific (major area of study)
Degree level (type of degree)
Minority (available to students based on ethnicity)
-
- Public and private institutions
- Colleges and universities
- Federal and state governments
*Popular student specific grants include those for non-traditional students, low-income students, disadvantaged students, graduate and doctoral students, high school students, undergraduate students, and military.
Common sources for grant funding:
-
- Florida’s Office of Student Financial Assistance. This office offers several categories of grants annually to disabled students, disadvantaged students, minority students, academically talented students and also offers loan repayment options.
- Oklahoma offers specialized and need-based grant programs on the state level.
- Michigan offers grant programs for its students separated into sections including academically gifted students, non-traditional students, adult students, low-income students and more. This is a great way to reach out to students on the state level, offering financial assistance they may not have otherwise received.
Federal Grants. The federal government has taken a proactive role in donating to the education system, with measures like the No Child Left Behind Act. More students are making it to the college level than ever before, which translates to more federal grants being made available than ever before, even federal grants for online students. Popular federal grants include the Pell Grant, the Academic Competitiveness (AC) Grant, the National Science and Mathematics Access to Retain Talent Grant, and many more!
State Grants. There are also grants available on the state level, through state grants. Many states offer grants to students based on need, merit, and field of study. Examples of state grants include:
Remember that there are so many sources of financial aid available that if your initial search does not yield anything, do not become discouraged. Continue searching for financial aid and you will likely find it in a category you didn’t know existed!
If you found this information useful in your search for financial aid, you may also benefit from reading 5 Things to Know About Financial Aid, Types of Degrees and Benefits of Online Learning. Good luck with your search and your future!
