There Are Many Sources For Financial Aid!
It's well known that furthering one's education past high school, whether through an on campus or online college is an expensive affair. It involves an incredible investment of both time and - especially these days - money. No average American can consider matriculation without some sort of financial package, as well as the necessary grades. Also, with the cost of college tuition rising faster than the national rate of inflation, even the well off are now planning assistance along with what school they enroll in. All these factors make obtaining an accredited degree online even more attractive.
Even those attending college might not have a really clear idea of the differences in financial aid. There are very delineated ideas behind a scholarship and a grant, a loan or going through a work-study program. A good place to start is a school's financial aid officer. It's their job to help prospective students get as much aid as possible. Successful ones keep up on all the latest information and changes and this helps the student gain the best financial assistance. If you need more information about distance learning online degree, look on the internet.
Still, knowing the basics never hurts. It will help a student target what he or she can/should aim for and as such the prospective student should do some exploring and research on their own. Here is some basic information about the different types of aid:
(1) Scholarships and Fellowships - They are offered for all forms of academic excellence. It might be music, athletics, the arts, or math, no matter, it's the excellence achieved that counts. Scholarships are for undergraduates. Fellowships are for post-grads. Just about every academy of higher learning has such programs. There are also federal, state, private and public scholarships out there. If you qualify for these, you don't have to pay it back, but it can be stopped due to grades.
(2) Grants - Mainly are handed out due to financial need, although grades are a consideration. They require students and/or their parent(s) to fill out a FASFA form. This details income, expenses and any other important details. Better known grants include the Federal Pell Grant, the SEOG and the state of Georgia's Hope Grant. Again, a student doesn't have to pay the grant back.
(3) Loans - At least half of all students in college has one of these. They were supposed to be a low-interest loan of one form or another. They are also based on need, so a FASFA form has to be completed. The most common loans are the Stafford, PLUS and Perkins. Thanks to the initiatives President Obama signed into law last March, college loans are going through some major modifications shortly. Just remember, these are loans, so they must be paid back. There is an abundance of information about distance learning course on the web.
(4) Work-Study Programs - It helps students earn financial aid, and often academic credits, through a part-time job. They include the Federal Work Study program, whose funds can be had at 3,400 academic institutions in the U.S. Also, major corporations such as Blockbuster, McDonalds, Wal-Mart and others offer work-study programs for their employees, with beneficiaries getting as much as $10,000 a year in addition to their salaries. Like scholarships and grants, the student doesn't pay this one back. He or she just has to work for it.
As said before, it's a good idea to work with a financial aid officer for further advice when you want to get your on campus or distance learning degree. Even a casual search on Google will find an incredible number of such online scholarships out there. For more information, the U.S. Board of Education is a great way to start.
