Distance Education Financial Aid Opportunities
Financial Assistance Options for Adults Going Back to School
Sep 9, 2008
Contrary to what many adults think, when it comes to financing their distance education they are eligible for the same financial aid given on those who attend class on campus. This support was approved by Congress when they implemented the Distance Education Demonstration Program as part of the Higher Education Amendments, 1998.
There are rules attached to any type of financial assistance you may receive, so it is imperative to contact the financial aid office at the school immediately when accepted. Many people lose out on financial aid assistance because they procrastinated to long or did not know it was even available for them as a distance education student.
Financial Aid Basic Requirements for Adults
The following are the basic requirements for applying for financial aid:
- Submit a Free Application for Federal Aid (FAFSA) form through their website FASFA, as soon as possible
- Must register as a half time student as a minimum
- Submit all financial aid documents through the school’s financial aid office
- Must have a declared major and working towards a degree or certification in the major
- Must be eligible for federal or state financial aid
- Must be a U.S. citizen or eligible non-citizen
- Must be registered with Selective Service System if male and not 26 or older, applies to most males regardless of status. Visit sss.gov for rules.
Basic Requirements for Schools to Offer Financial Aid
Schools offering distance education courses or programs must meet the following basic requirements to offer financial aid:
- Must be a Title IV School – focused on workforce and career development
- Student enrollment must not exceed 50% distance education students
- Courses must not exceed 50% offered through distance education
- Academic year must consist of 30 weeks minimum
Other Financial Aid Options if not a Title IV School
Distance education students can apply for scholarships, grants, and loans. These students can also apply for Federal Stafford and Federal Perkins Loans. Additional options include loans from banks and Sallie Mae.
- Scholarships – generally must be enrolled in a two or four year program and must be able to apply scholarship to distance learning. Visit FastWeb to begin a search for scholarships. Scholarships are great because they do not need to be paid back.
- Grants – are generally provided through state agencies and each state has its own rules. Contact the schools financial aid office for assistance. Grants are also great, because they do not need to be paid back.
- Federal Aid – the first step in securing federal aid is to submit a FASFA. Once the school receives the FASFA application, the financial aid office will provide Federal Stafford Loan limits. Some Stafford Loans do not need to be paid back. Additionally, they will provide Federal Perkins Loans available based on the FASFA application.
- School Loans – a good school’s financial aid office will automatically apply for these loans or provide assistance if no scholarships, grants, of federal aid were approved.
While applying for financial aid, visit Online Education Learning Strategies for Adults for advice regarding how to ensure the hard earned financial aid is not squandered.
 |
