A Guide to Online University Financial Aid: Scholarships, Grants and Loans
College, while critical to career and personal development, is expensive. Fortunately, there are ways for students to mitigate expenses related to higher education by way of financial aid. There are various forms of financial aid available, with the most popular being scholarships, grants and student loans.
Scholarships
Scholarships are a form of financial aid awarded for various reasons that help lessen the burden of higher education expenses. The most common scholarships are merit-based, need-based or athletic. Scholarships are available from many organizations, so you should acquaint yourself with the ones available through your school, company, parent’s work, local communities and on scholarship database sites to make sure you aren’t missing any you qualify for!
Scholarship Sources
Many scholarships are offered online through college scholarship Web sites such as Students.gov. Additional information is also available at the U.S. Department of Education. Be sure to read all the information provided by each scholarship application to make sure you are eligible for the money offered. Many scholarships are offered based upon skills performed in writing, artwork, science projects and more. Some scholarships are offered to superior athletes so that athlete can perform for the college. Each offer will stipulate who is eligible for the money and the standards you must reach before and after you are considered.
Grants
Grants, unlike loans, do not have to be repaid. Grants are sometimes referred to as gift aid. Traditionally for undergraduate students, the gift amount is based on the student’s need, as determined by information provided on the FAFSA, and the cost of attendance at the university the student is enrolled at.
Grant Sources
There are currently four federal grants available that undergraduate students can apply for:
- Federal Pell Grant
- FSEOG- Federal Supplemental Educational Opportunity Grant
- TEACH- Teacher Education Assistance for College and Higher Education Grant
- Iraq and Afghanistan Service Grant
Loans
Loans are borrowed money and repayment with interest is required. Students apply for loans in order to finance their education that they cannot cover upfront, with saved money, scholarships, grants or financial aid. Students and/or parents can take out a loan to finance higher education.
Loan Sources
There are five federal loans available as well as a wealth of private loans offered by banks and credit unions across the US. The five federal loans are:
- Federal Perkins Loan
- Federal Stafford Loan
- PLUS Loan for Parents
- PLUS Loan for Graduate and Professional Degree Students
- Consolidation Loan
Financial aid is available to students at both traditional brick-and-mortar colleges and online colleges and universities. Browse the list of schools to find a program that best suits your needs.
Top Online Universities
According to our user selection data, the universities listed below are those in which prospective students are most interested. You can click on each college's logo to request more information from that particular school.
|
Kaplan University – Kaplan University is one of the largest accredited online colleges, with degree programs available in a wide range of subject fields. Enjoy a vast library of resources, dedicated advisors, and innovative learning techniques through Kaplan’s online programs. |
 |
|
University of Phoenix – Now the largest private university in North America, the University of Phoenix maintains over 200 convenient campus locations as well as one of the leading online learning formats to serve students anywhere at any time. The University of Phoenix degree programs are designed in collaboration with academic and industry professionals to ensure quality, relevance and rigor. |
 |
|
Ivy Bridge College – Ivy Bridge College offers online associate’s degree programs in accounting, business, computer technology, healthcare administration, criminal justice and general studies. The programs provide the flexibility and convenience of online learning while offering unparalleled mentoring and student support. For students interested in pursuing a bachelor’s degree, Ivy Bridge provides streamlined admission to some of the best four-year colleges in the U.S. |
 |
|
Post University – Now dubbed the largest provider of online higher education in the state of Connecticut, Post University has been offering accredited, accelerated online degree programs for nearly 15 years. Post’s online programs are thriving today thanks to an effort to providing the detail of in-person learning to students needing the convenience and flexibility of online education. |
 |
|
Walden University – Founded in 1971 in Minneapolis, Minnesota, Walden University’s motto states their mission: "A higher degree. A higher purpose." The coursework offered at this university is designed with working adults in mind. Those who previously may not have had the time to attend class can now earn a degree online from Walden in convenient and affordable style. |
 |
