New Financial Aid Programs

Money

It is a fact of life that college can be expensive. However, there are lots of ways students can fund their education so they can be prepared to start a successful career or advance the one they already have. Different types of financial aid, from government grants and loans to military aid and scholarships, provide dozens of options for students. MyCollegesAndCareers.com has compiled a list of school financial aid that in most cases can be applied to online continuing education.

Federal Pell Grants

Federal Pell Grants are available to undergraduate students who demonstrate financial need and are working toward a degree. This financial aid is not paid back and the amount awarded can be up to $5,550, depending on financial need, school costs and the number of credits a student is taking. Student can speak with their school’s financial aid office on more information about how to apply for one of these grants.

TEACH Grant

The Teacher Education Assistance for College and Higher Education (TEACH) Grant Program provides financial aid, that does not need to be repaid, to students who agree to teach at an elementary or secondary school that has students from low-income families. They must agree to teach for a certain period of time within a specified time frame after they graduate. They must also teach a high-need subject like special education, mathematics, or foreign language, among other subjects. Students can receive up to $4,000 a year to help pay for their education if their school participates in this program.

Federal Supplemental Education Opportunity Grant (FSEOG)

Undergraduate students who have exceptional financial need can receive a FSEOG grant, that does not need to be repaid, for anywhere between $100 and $4,000 a year. Students interested in this financial aid option should contact their school’s financial aid office to see if they meet the requirements and to learn how to apply.

Academic Competitiveness Grant (ACG)

This grant, that is not paid back, is given to first-year college students that graduated from high school after January 1, 2006 or second-year college students who graduated from high school after January 1, 2005. Students can receive up to $750 their first year and up to $1,300 their second year. Among other qualifications, students must be a Pell Grant recipient, be enrolled at least a part-time and meet academic standards.

The National Science and Mathematics Access to Retain Talent Grant (National SMART Grant)

SMART Grants are available for students in their third, fourth, or fifth (depending on circumstances) year of college. Students who are going to school at least part-time, are eligible for a Pell Grant and are majoring in physical, life or computer sciences, mathematics, technology, engineering, a critical foreign language or a non-major single liberal arts program may be eligible for up to $4,000 each year, that does not need to be paid back. There are other requirements that must be met and students can find out more through their school’s financial aid office.

Iraq and Afghanistan Service Grant

Students who are not eligible for a Pell Grant but have a parent or guardian in the U.S. Armed Forces who was killed in Iraq or Afghanistan after September 11, 2001 may be eligible for this grant. The student must be under the age of 24 or be enrolled in college at least part-time, at the time of the parent’s or guardian’s death.

State Government Aid

Several states offer financial aid to students. The requirements, amounts awarded and details vary from state to state. Students should consider both the state they reside in as well as the state they plan to attend school in.

Military Financial Aid

Resources like the Montgomery GI Bill, the HEROES Act of 2003, U.S. Armed Forces Recruiting Programs and the Financial Aid for Veterans and their Dependents program are excellent options for students who are in the military or who have family members in the military.

College Financial Aid

Lots of schools offer unique financial aid programs to their students. Prospective and current students should consult their school’s financial aid office for details on their options and to find out whether financial aid applies to online education and online education degree programs.

Federal Direct Loan Program

The U.S. Department of Education loans money to students who are seeking education. There are various requirements and conditions that determine how much money a student qualifies for. There are several different repayment plans available to students so that once they graduate, they can start a repayment plan that fits their needs.

School Scholarships

Schools and programs often offer scholarships based on things like academics, talents and other factors. Students can check with their school to see what options are available.

Scholarship Lotteries

While the odds of winning a scholarship lottery are slim, many students decide to participate in these lotteries. Scholarships are awarded based on a random drawing and sometimes require students to give the sponsor their contact information.

Other Scholarships

There is an almost endless array of scholarship categories available. Students can be awarded a scholarship based on volunteering, athletics, talent, contests, and even area of study. Some scholarships are also awarded based on ethnicity, gender, disabilities, religion and even age. There are websites that can help students find these scholarships and individual college financial aid offices can help find students find scholarships they may be eligible for.

Employer Tuition Assistance

Many employers help their employees pay for college. This is a good choice for people enrolling in online education degree programs. Sometimes there are tax benefits for employers who do this.

MyCollegesandCareers.com is committed to helping students find the best school for them so they can earn their college degree and embark on a rewarding career. A powerful resource for individuals who have full-time jobs and family responsibilities, My Colleges and Careers connects people with the programs that help them earn their degree online.

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