Online students have access to the same financial aid options as students who attend classes on campus. Scholarships, grants, loans, and work-study programs can all help pay for an online degree. The first step for most students is the Free Application for Federal Student Aid, known as FAFSA.
FAFSA is the form the U.S. government uses to decide what federal aid a student can receive. To qualify, students must meet federal eligibility rules, which include citizenship or eligible noncitizen status, and they must enroll at an accredited school. If you are new to the process, start with what FAFSA is and how it works.
Federal student loans come in several types. Subsidized loans are available to undergraduates with financial need and do not collect interest while the student is enrolled. Unsubsidized loans are available more broadly, but interest starts adding up right away. Direct PLUS loans and consolidation loans are other federal options, each with its own terms.
Grants are another major source of aid, and they do not have to be repaid. Pell Grants provide funding to students with the greatest financial need. State governments, colleges, and nonprofits also offer grants with their own eligibility rules.
Scholarships come from private donors, organizations, and schools. Some are based on grades, some on financial need, and some on career interests or background. Applying early and broadly improves your chances. Graduate students can look for awards aimed at their level, including scholarships for online master’s degrees.
Federal work-study programs pay students for part-time work, often on campus or in community service roles. Employer tuition assistance is another option worth checking, since many companies help pay for job-related education.
The financial aid office at the school you choose can help you sort through these options. For more guidance, see tips for getting the most from your financial aid.
