Getting full financial aid for online classes is easier than you think!
Typically, there is no difference in financial aid for students who attend classes in person versus those who opt to take classes online. As long as the school is accredited and approved by the US Department of Education, online students are eligible for the same financial aid as students who attend classes in person.
Good news, right? Now all you have to do is prepare to file your FAFSA® and understand the aid options available to you.
Applying for financial aid for online classes
The first step when seeking financial aid to pay for online classes is filing the Free Application for Federal Student Aid (FAFSA®). This application will determine your eligibility to receive federal grants, federal loans, and sometimes even some institutional scholarships.
After filing FAFSA®, it’s important to apply for additional grants and scholarships. Websites like MyScholly.com and Unigo.com are great scholarship resources for students who wish to take classes online.
Scholarships are an excellent way to get more FREE money for college that you don’t have to pay back. They can help you avoid taking out too much in student loans. It’s a move that will set you up for a successful financial future.
Getting a private loan to pay for online classes
If you have exhausted all resources for federal aid, including grants, scholarships, and loans – don’t worry, you still have options. While private loans generally come with higher interest rates and a less-flexible repayment plan compared to federal student loans, they can be a good resource to help pay for online classes.
When accepting loans of any kind, it’s important to read all the fine print and make sure you understand all of the terms. While it may be tempting to accept a loan for the additional money you don’t need for school, remember that you’ll be paying interest on this money, and you shouldn’t take more than you need.