How to Apply for Financial Aid for Online Colleges
Paying for college is a concern that weighs on almost all parents and prospective students. Although studying online can be more economical than attending a traditional college, the tuition rates may still be overwhelming to some. For example, Pennsylvania State University's online degree programs cost more than $5,700 per semester for a full-time student. Fortunately, many students have the option of applying for federal student aid. This can come in the form of grants, loans or work-study programs; only loans must be repaid.
Other People Are Reading
Instructions
-
-
1
Determine whether financial aid is available for the school you would like to attend. This is usually addressed on the institution's website in the "Admissions" section.
-
2
Gather the previous year's income tax returns; if you're a dependent, you will need your parents' tax returns as well.
-
-
3
Go to FAFSA.gov and complete the financial aid application. During the application process you will be required to list the schools you are interested in. These schools will receive your financial aid information whether or not you have already applied.
-
4
Apply to the college(s) of your choice if you have not already done so. Once your financial aid application has been processed, you will receive a Student Aid Report (SAR), which details the information you submitted and also estimates your Expected Family Contribution (EFC). EFC is how much your family is expected to contribute to your college tuition. The lower this number, the more financial aid you will receive.
-
1
Tips & Warnings
Students enrolled in unaccredited schools are not eligible for financial aid. Check with the U.S. Department of Education to confirm an institution's accreditation.
