Financial aid for online education
The federal government enacted legislation in 2006 that gives students enrolled in online degree and certificate programs more access to financial aid. As top schools acknowledge the needs of non-traditional students and add online programs to their curriculum, working adults have greater access to educational opportunities and financial assistance.
Why You Should Apply for Financial AidYour eligibility for aid is determined by information you submit on the Free Application for Federal Student Aid (FAFSA), which you can complete online free. Because most federal and institutional grants are awarded to low-income families, you may or may not be eligible for a grant. Fortunately, there are a number of educational loans that you can apply for, like the Federal Family Education Loan (FFEL) and William D. Ford Direct Loan Programs, to help pay your online educational costs. In order to receive funds from these loan programs, you have to be enrolled at least half time in a degree or certificate program. Some private lenders do offer continuing education loans for students enrolled less than half time.
More Financial Aid Options for Online StudentsOther funding options that you might want to explore are merit-based scholarships and employer tuition reimbursement programs. You can find free online scholarship search Web sites that can help you search for specific scholarships for which you might be eligible. You also might want to talk with your manager or a Human Resources representative about any tuition reimbursement programs your employer might offer.
The Internal Revenue Service also provides tax benefits for educational costs. You can go to their Web site and read IRS Publication 970 for more details.
Department of Education Federal Student Aid
FAFSA on the Web