Finding Funding For Your Online Degree.

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Federal financial aid is like free money. Get a grant and you never have to repay the government. If you need money to pursue your degree, there are more funds available this year whether you’re studying online or in class.

The first step is filling out a “free application for federal student aid or an FAFSA. The forms are available on-line and in hard copy. Check out the U-S Department of Education website to download your FAFSA. The application makes students eligible for not only Pell Grants but all federal, state, and some institutional financial aid programs. The FAFSA takes a little time, but the money can be used at one of more than five thousand educational institutions. If you don’t own a computer, remember you can always use your local library.

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Pell Grants are based on financial need to students pursuing a bachelors or professional degree. The federal government chooses students using a formula determined by the U-S Congress. More than 90% of graduate school scholarshipsrecipients come from families earning less than $41,000 a year.

The U-S Department of Education decides which students receive grants based on need. The money is awarded based on a family’s income and expenses. Students must be enrolled in an undergraduate degree program or a professional program. Only 10% of students who get Pell Grants came from families earning more than $41,000 a year.

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Online students can qualify for grants for college, but they usually must enroll in high demand careers like science or education. But there are grants available if your getting a degree online. If a student’s financial needs is desperate they can apply for Federal Supplemental Educational Opportunity Grant. The Academic Competitiveness Grant benefits students who graduated from an academically rigorous high school program.

The amount of money a student gets is determined not only by financial need, but also tuition costs and enrollment. There is even special assistance if a student lost a parent or guardian died in military service after the September 11, 2001 attacks. The same amount is given to each student each year, which makes budgeting for your education easier.

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There is more money than ever for the 2010 to 2011 school year. Each student can now receive up to $5,500 a year. The Federal government pays the money at least twice during the academic year. It may go directly to the student or towards tuition.

Your school or the Department of Education website will have even more information on Pell Grants and the FAFSA. Grants are the best kind of financial aid, because you don’t have to repay the money. So, if you need money for college or an online degree, spending a little time filling out an application can pay off.

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