Archive for the ‘Paying for Online Degree’ Category


Distance Education College Grants

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distance education college grantsDistance education college grants are available to any students and it does not matter what their financial status is for as long as their education will lead to a worthy cause. Unlike loans, grants does not need to be repaid and does not require any collateral or credit check. The repayment will be seen on how the student contributes to the society. So if you want to apply for distance education college grants, you must know why they are given and how to apply for it.

Organizations that provide distance education college grants

Majority of the people does not know about grants that is because they are not advertised so the best first step is to know which organizations provide grants and for what reason. The easiest way to research on this is to go online, there are a lot of information regarding this. Government and foundations provides college grants to organizations or individuals who work for a cause. The state and federal governments have grant moneys for causes that aims to enhance the society’s condition.

When it comes to federal grants, the first requirement is that the individual must be a US citizen. On the other hand, state grants requires that the individual must be a resident of that state. For private foundations, they must also make available grant money to be able to maintain their non-profit status.

Causes worthy of distance education college grants

Grants are provided to benefit the society. Since education individuals are known to provide great contribution to the society, they are made available to finance education. For students who want to receive grants, they must be able to state how their chosen field will benefit the society. Usual fields where grants are provided include education, crime prevention and health care.

There are a number of professionally oriented distance learning programs that prepare students to become criminal justice professionals, teachers and health care workers and such individuals are natural recipients for distance education college grants.

Prosperity and economic growth are seen as worthy causes by foundations and governments which is why grants are usually given for ventures which provides jobs like starting up small businesses. Many online students pursue business degrees and are natural recipients of grants as long as they can tell how their education and career can contribute to the society.

How to apply for distance education college grants

Aside from students, organizations such as profit and non-profit making businesses also apply for it. These businesses must also be able to provide how their business can help the society. For students wanting to apply for a grant must write a proposal. Applying for grants can also be done online. Distance education can be expensive so seeking for funds is the first step students do. Just remember that grants are given to those who are willing to study to be able to help change the society’s condition.



Borrowing Money to Pay for Online Degree

borrowing money for online degreeBorrowing money is one of the options to pay for online degree but the question is to whom do you borrow money. Online universities provide financial aids, so the first thing to do is to talk to a financial advisor. Ask about the different kinds of financial assistance the school provides and what the school accepts. For most students, loan will play a big part of the financial assistance package. But remember this, it costs money to borrow money, with rising interest rates over time this will great impact the total amount of your education. So, only borrow what you need.

Online students have a great advantage over students attending campus, they are only entitled to pay for their tuition and not so much on books because their course materials are all downloaded. When it comes to living expenses, they do not need one since some are already employed and some already have a house. And they do not have to relocate to attend school and not subject to out-of-state tuition.

The next step in borrowing money to pay for online degree is to complete a Free Application for Federal Student Aid (FAFSA). The form can be filled out online through the Department of Education website or submit the form by mail. This application will be the basis to how much you will be granted for all federal, state and school programs. Always fill out forms a month or more before deadline this will give you more time to look for other options in case your application is denied.

After filling out the FAFSA form, you are provided with a Student Aid Report (SAR). The federal government operates under the impression that your education should cost you something and that amount is the Expected Family Contribution (EFC). This information is based upon the your income savings, family size, and family members attending college. Schools that you have indicated in the FAFSA form will also receive this information. The EFC is the basis for determining your financial need (Cost of attendance – EFC = Financial Need).

If in case your application is granted, you will receive a Financial Aid Award Letter from the university. This indicates the total amount granted, loans, scholarships and work study where you are qualified. Borrowing money to pay for online degree is not a simple process though, not all applications are granted so make sure that you have another alternative at hand.



Employer Tuition Assistance for Online Education

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Going back to school can be very expensive especially nowadays where the economy is not doing so well. Some people will choose to work first to earn money for education but then they are not able to pay the full amount of the tuition fee. If you are employed, then you can ask for an employer tuition assistance from the company you work for. Usually, large companies such as Hewlett Packard, General Electric, Motorola, Citigroup and Dell provides a generous assistance for their employer’s tuition.

employer tuition assistanceIn a perfect world, the best employer tuition assistance would be one that will provides assistance for undergraduate, graduate or continuing education. Then, an up-front full payment for every course and will cover all expenses such as course materials and books. Though, we all know that we can get one of these but not all. We still have to work to get the rest.

The tuition assistance will be based on the employer’s objectives for retention, recruiting and productivity. The benefits or plans may differ among different companies and even within different departments in a company. Make sure to talk to the company’s human resources specialist to discuss employer’s rules, restrictions and caveats. Though, most companies do not offer a wide range of option and sometimes this kind of plans are not promoted to the employees.

Still a lot of people may not know about employer tuition assistance and they work hard just to earn the money for their education. According to a study made by the International Foundation of Employee Benefit Plans, there are only less than 15% of qualified employees who take advantage of this benefits.

This is why handbooks given during your first day at work must be read for you to know your benefits. These benefits will help a lot especially when the time comes that you will need it. Companies spend millions of dollars on their employer’s benefits so it is just wise to take advantage of it. Though, you must also read the policies corresponding to each benefit so you will know if you are eligible for it.

There might be several conditions that will be asked by your employer when before they grant you an employers tuition assistance which is as follows:

  • You may be asked to choose from a certain list of colleges picked out by your employer
  • Enroll in a degree that relates to your job.
  • Pay the tuition fee on your own and then it will be reimbursed after you have completed the course.
  • Pay the excess amount of the tuition if in case the budget granted to you was not able to cover all expenses.
  • Get high grades
  • If you leave the company, you should pay back the tuition.

For some companies, they do not reimburse 100% of the tuition fee, usually, only 80% is paid.

If you are lucky enough to work for Fortune 500 companies then you will not have a hard time applying for an employer tuition assistance. Large companies are known to take care of their employers very well by giving them great benefits. So if you are planning to continue your studies then bring out that handbook, read it and consult your HR.