College costs never decrease, they are always rising, whether it is for traditional campus study or distance learning. Online grants are accessible just like they are for traditional on-campus learning. However, there are unique categories of grants only for online students. Grants like these are the best way to reduce the cost of getting an online degree. College grants for online studies are a one-time award of money, depending on financial need or merit. Dissimilar from online student loans, grants signify free money which never has to be repaid.
Grants are considered the best kind of financial aid for both online and residential students. Grants are in principle free money so individuals can study online. Individuals could get free grants through their college, state government, the federal government, and even various private entities. Entities such as professional and trade associations.
Types Of Grants For Online College
Need-Based grants
These are typically provided by the federal government. Need-based grants offer either partial or full tuition coverage depending on financial needs. The gap between the total cost of attendance and the EFC or expected family contribution is key. It will ultimately govern whether the individual will qualify for these grants. The first stage in applying for a need-based grant for online college is to complete the FAFSA application.
Merit-Based Grants
Contrary to popular belief, merit-based grants are not just for students with straight As. Or for those with a spectacular range of awards and extracurricular activities. The passion and motivation of an individual could qualify them for a merit-based grant. Does the individual habitually take on projects reflecting an interest in a field, for example assembling robotic kits at home?
Does the individual take on leadership positions or volunteer for their hobby, for instance, is the president of a debating club? Having balance is also the main criterion: Maintaining a B average while holding down a part-time job and playing as captain on a sports team. These are all things that could influence a selection committee. It will allow them to see that the individual has the fortitude to handle a challenging college curriculum. The decision-makers and selection committee will weigh both income and achievements.
A few examples of merit-based grants are: Tuition Waivers – These are mainly accessible to in-state residents and those affiliated with the military also. Tuition waivers excuse a student that qualifies from paying the full cost of the tuition. Artistic & Literary Merit Scholarships – Individuals can do a quick google search for these scholarships. They will be bombarded by the numerous awards available to those artistically gifted. Athletic Merit Scholarships – for instance the Foot Locker Scholar-Athletes Program presents awards to twenty high schools, college-bound seniors up to $25,000.
Academic Departmental Grants
If the individual already knows what academic discipline or major, they wish to complete. Chances are that they might have access to specific financial aid sources, namely, Departmental grants. These are tailor-made for students majoring in an explicit field. Searching within the department at the college could assist in narrowing down the options. Plus, this restricts the competition for the grants to just those in the particular department.
Corporate Grants
Regardless of if the individual is working or not, they could qualify for grants from organizations. These are mostly provided by larger companies like Coca-Cola. These grants are typically accessible to partners or spouses, employees, and children of employees as well. To find these grants, individuals would have to search for major business entities that have endowments or foundations.
Examples of grants like these include Burger King Scholar Program, which is available to high school seniors. Employees of Burger King, their spouse or domestic partner or offspring. The scholarships range from $1,000 to $50,000 and must be applied for between October and December annually. Coca-Cola as mentioned is also an option, their Coca-Cola Leaders of Promise offers two hundred scholarships at $1,000 each.
Professional Grants
In addition to mentorships, networking, and professional development workshops, professional associations typically have yearly budgets aimed towards scholarships and grants. In order to find a professional association applicable to the career path chosen, enter your field of study, for instance, nursing. Then add the phrase professional association. Afterward, search around the website of the association for keywords such as member education or student resources.
How To Get Paid To Go To School
Each grant varies in the requirements for eligibility. As the number of students increases that do not fit into the traditional mold, it requires flexibility. This scheduling flexibility at times goes beyond the normal fifteen-credit semester. Seek out grants that explicitly state part-time basis or part-time. In several situations, the dollar figure for a grant like this is not much different from full-time.
Grants for online college vary widely in the amount offered. It might also be based on the type of aid qualified for, whether, need-based, merit-based or departmental. On average the merit-based grant ranges from $1000 to the full $35,000 in some cases. However, as an estimate, it is around $5000 per grant. Due to the fact that need-based dispensing is dependent on the financial need calculated on the FAFSA, the amounts vary drastically from individual to individual. However, as a rule of thumb, the need-based grant is not allowed to exceed the financial need.
One of the most misconstrued things regarding the grants for online college is that they are hard to come by. The possibility of being awarded one is so low that it does not make sense to apply. However, in reality, it is this assumption that results in huge amounts of grants not being claimed each year. Despite the rising cost of college, there are millions upon millions of dollars for awards that are left untouched.