Thinking about pursuing your degree through distance learning?  Worried about how you will pay the tuition and any other costs involved? You may qualify for a scholarship, grant or other type of financial aid.  Distance education degrees are no different, in terms of funding, than on-campus degree programs.  Of course the online degree program must be accredited, but the same holds true for traditional degrees.

All of the traditional types of financial aid are available: Scholarships, grants, and student loans.  What are they and how do they work?

Scholarships:

Scholarships do not have to be repaid.  They are personalized forms of financial aid available for students with particular strengths in academic, artistic, or athletic fields. In addition, students from underrepresented minority groups or students in financial need may also be eligible to receive scholarships. 

Consult with the various schools with programs in which you have interest to determine if they offer scholarships for students in your situation.

Grants:

Grants do not have to be repaid.  Pell Grants are a type of educational grant that is often awarded to students by the Federal government. To receive a Pell Grant, students must meet certain qualifications that have been determined by the government.

Student Loans:

Student loans must be repaid.  There are several types of educational loans available from the Federal government. Two major categories of federal education loans are:

• Student loans (Stafford loans and Perkins loans)

Stafford loans are either subsidized or unsubsidized. Subsidized Stafford loans are awarded to students based on their financial need. Unsubsidized Stafford Loans are not based on financial need.
Perkins Loans are low-interest loans borrowed directly from your school with federal assistance.

• Parent loans (PLUS loans)

  PLUS loans are awarded to parents of students who qualify as dependents

To apply for any form of federal financial aid, you must complete the FAFSA (Free Application for Federal Student Aid.)  Do this as early as possible.

Students should complete the FAFSA on the Web worksheet prior to filling out the FAFSA; it will make the process go much more smoothly.

The question that we get asked the most is:  how do employers view online degrees?  This is a very good question, and something that you should be thinking about if you are considering an online degree program.

Online degrees vs traditional degrees have several advantages for both the degree seeker and the employer.  Because a student can continue working and meeting job requirements while pursuing an online degree, many employers are quite supportive of this degree option. 

The traditional degree program may not be an option if there is not a college or university close to where you live, or you may have a long commute, and with the price of gas, may not be an option for you.  Also, consider the other costs involved to attending an on campus program versus an online program.  Often employers will help pay for the cost of tuition, so do ask.

Recent surveys of many different types of employers indicate that overall employers have the same level of acceptance of an online degree program as they do from a traditional program.  However, it doesn’t hurt to ask your employer their opinion.  If you don’t wish to stay in your current position, or if you wish to change industries once you have obtained your degree, do some research to determine how online degrees are viewed by your targeted employer or industy. 

Also, keep in mind that online degrees from accredited, top tier universities are going to be the most acceptable option in most cases.