Getting a college diploma can be a costly endeavor. As the cost of online college programs may be a worry for prospective students. If you are worried that the high cost of getting a college degree could kill your college dreams, then here is a piece of good news for you- Grants for online college!
Refreshing, right? That’s the beautiful thing about online college grants. It could help you fulfil your college deams, as it lowers your education expenditures considerably, thereby making their goals attainable.
As the use of remote learning grows, so does the need for an online college award for deserving students. The government had previously stated, that grant-seeking students must attend half of their classes on the campus before they can be qualified for an online college grant.The situation has however changed in recent times.
Grants for online degree programs are limited in comparison to on-campus programs, according to an old but ongoing misconceptions. Colleges, on the other hand, structure the financial assistance procedure for distant students in the same way that they do for on-campus students.
A one-time financial reward based on merit or financial need, an online college grant is a one-time monetary payment. Grants, unlike online student loans, are free money that does not have to be repaid. The federal government, state governments, your college, and several commercial sources, such as trade and professional organizations, all offer free grants.
According to the College Board’s Trends in College Pricing and Student Aid 2021 study, the percentage of students enrolled in any distance learning course increased dramatically from autumn 2012 to fall 2019, with 15% of all undergraduates enrolled entirely in online classes. College students are attending classes online in greater numbers than ever before.
Misconceptions about Grants
One of the most common misconceptions about online college grants is that the chances of winning are so slim that it’s not worth the effort to apply, which isn’t true. Despite rising college costs, tens of millions of dollars in grants money go unused. According to a higher education study, nearly 3$ billion in federal grant money went unclaimed in 2014 academic year. As a passionate student, don’t waste time. Grants have processes. You may have to wait a few months after submitting your grant funding application to hear back. If you are awarded grant funding, you may have to wait up to a month for the paperwork to arrive. Start now.
Online Students Face Exceptional Challenges
While distance learners might save money on living expenses, online degrees can have unexpected hidden fees. Out-of-state students may be charged higher tuition than in-state students, depending on the college (though many online colleges charge in-state tuition to out-of-state learners).
Costs of travel may also be a factor. Some online programs require students to visit campus on occasion, which might be costly if a student lives far away from the school. Miscellaneous expenses (such as graduation and evaluation) and technical charges (such as Wi-Fi and a laptop) are also hidden costs of online degrees. Anyone searching for online college grants must know there are different types of grants for online college.
Various Grant Categories For Online College
- Need-Based
Need-based grants, which are usually provided by the federal government, cover all or part of the cost of tuition based on financial need. If you are eligible for these grants, the difference between your anticipated family contribution (EFC) and your total cost of attendance will be determined. Filling out the FAFSA application is the first step in receiving need-based assistance for online college.
- Merit-Based
Merit-based grants aren’t just for straight-A students who have a slew of extracurricular activities and honors, contrary to popular belief. Do you give back to your passion by volunteering and leading it? Do you regularly accept projects that indicate a passion for a particular field? You may be eligible for a merit-based scholarship depending on your ambition and enthusiasm. It’s also crucial to strike the right balance: Merit-based grants are monetary awards given in acknowledgment of exceptional academic achievement. Whereas need-based grants are awarded based on income disparity, merit-based grants are accessible to students who must have demonstrated exemplary levels of academic capabilities, and they must proven themselves as committed leaders.
- Corporate
Companies may provide grants to you whether or not you are currently employed. Employees, spouses/partners, and children of employees are frequently eligible for these incentives, which are more popular in large organizations. A corporate grant is a type of grant that comes directly from a large corporation. Many of these corporations set aside funds at the start of the fiscal year and award grants to those they deem deserving.
According to” Grantspace”, a corporate social responsibility program is one of the reasons why firms award grants. This type of initiative, also known as corporate social responsibility (CSR), informs the general public that the corporation is concerned about giving back to the community and those in need. Others have their humanitarian foundations, while others have their separate initiatives through which they award money. The corporation can deduct a portion or all of the donations it awards by establishing a charitable foundation. This could result in significant tax savings for the corporation. This grant can also be used by businesses to boost their public image.
- Academic Departmental
If you already know which major or academic subject you want to pursue, you may be eligible for a variety of financial aid opportunities: Departmental grants are aimed at students who are majoring in a specific domain. Looking inside your college’s department can help you narrow down your alternatives (as well as keep the competition limited to your peers). If you intend to major in mass communication, for example, you should contact the appropriate quarters in your school, to see if there are any grants available within the department.
- Professional Association
Professional societies frequently have an annual budget dedicated to awards or scholarships in addition to professional development workshops, networking, and mentorships. The key is to locate opportunities in line with your profession most likely through official communication coming out of the professional association linked to the profession, and relevant to your chosen career. When trying to locate such opportunities, you may search for terms like “student resources” or “member education” on the direct websites of associations. Professional organizations can be found in a variety of databases, including Career One Stop and others (sponsored by the U.S. Labor Department).
How to Enrol in an Online College with Pell Grants
Popular Online College Grants
Federal Grants
The US Department of Education contains the largest database of all grants and financial aids on the list, with the majority of them going to undergraduate students. The Federal Student Aid program, which includes scholarships, work-study, and loans, is estimated to be worth $150 billion to 15 million students. The eligibility of the student’s high financial need and cost of attendance at school, among other considerations, is determined by submitting a Free Application for Federal Student Aid (FAFSA).
With the typical programs listed below, this should be the first stop for grant-seeking American students:
PELL GRANTS
It is a federal government subsidy that serves as the cornerstone of every student’s financial aid package. It was previously known as the Basic Educational Opportunity Grant. These grants, named after Democratic U.S. Senator Claiborne Pell, are available to low-income students pursuing their first bachelor’s degree or enrolled in post-baccalaureate programs at 5,400 participating schools.
Pell Grants use a standard procedure to evaluate financial information provided by applicants on their FAFSA to determine the student’s Expected Family Contribution (EFC). The maximum amount of money provided to each recipient is determined by the cost of attendance, the duration of a participant’s stay in college, whether it is a full academic year, and whether the student is full-time or part-time. The maximum amount provided to each candidate for the 2019-2020 award year was $6,195. They must also sign a statement stating that this is purely for educational purposes.
FEDERAL SUPPLEMENTAL EDUCATION OPPORTUNITY GRANTS
If you have the greatest unmet financial need, you may also be eligible for an FSEOG based on your FAFSA submission. The maximum FSEOG offered for an award year with this federal help is $4,000 for each student, and it is issued on a first-come, first-served basis in their college of choice.
TEACH (TEACHER EDUCATION ASSISTANCE FOR COLLEGE AND HIGHER EDUCATION) GRANTS
It was founded in 2007 to help students from low-income backgrounds who would like to teach. Education graduate students will be deployed for four academic years in a high-need field of study or critical shortage schools, as an example of an award-service program. Math and science, special education, foreign language, and bilingual education are among the disciplines of study with the greatest demand. Every year, accepted applicants must attend TEACH Grant counseling and sign a contract called the TEACH Grant Agreement to Serve. Qualified recipients might earn up to $4,000 per year, according to estimates.
STATE-SPONSORED GRANTS
Every state has its grant program for resident students. State educational grants, in contrast to federal grants, are based on merit. It also gives preference to minority demographics such as ethnicity, gender, and field interests. Because eligibility requirements differ by territory, college-bound students should contact their state academic institutions for more detailed information, assistance, and updates on these opportunities. Students who are eligible for the federal Pell Grant are automatically eligible for state-sponsored grants at member colleges. Here are a few examples:
COLORADO’S DEPARTMENT OF HIGHER EDUCATION
The Colorado Department of Higher Education provides financial assistance to qualified students through undergraduate and graduate education grants, dependent tuition assistance programs, and work-study programs.
CENTRAL ALABAMA COMMUNITY FOUNDATION
One of their primary goals as a charitable organization in their state is to assist qualified undergraduate college students from underprivileged counties across Alabama with financial needs.
COLLEGE FOR ALL TEXANS
This scheme offers state and college-bound students a variety of grant programs, including the Texas Grant. Their need-based grant awards range from $4400 to $7400, depending on need, college type, and academic standing.
KANSAS BOARD OF REGENT
The amounts available to qualified grant recipients vary according to their needs and availability. Kansas Career Work-Study, Kansas Ethnic Minority Scholarship, Kansas Nursing Service Scholarship, and Kansas Comprehensive Grant are just a few examples of state-sponsored grant programs. Their grants have ranged from $200 to $3,500 for private institutions and $100 to $1,500 for public institutions.
