Online School Grants

If you’re considering quitting school because you don’t have the money to complete your degree, think again. You may qualify for grants to help you get your degree online. Going to school online allows you to keep a job and live at home, while still receiving an education. Check out some of these sources for online school grants.

The most widely available source of education funding is the Federal Pell Grant program. Pell Grants are awarded to undergraduates pursuing their first bachelor’s degree. The amount of the grant is based on a number of factors: the amount you or your family expect to contribute, the cost of attending your chosen school, and whether you are a full or part-time student. Check with your online school’s financial aid officer to see if you are eligible.

Even if you receive a Pell Grant, though, it won’t pay for everything. Pell Grants are often supplemented with the Federal Supplemental Education Opportunity Grant (or FSEOG). FSEOGs are given in block amounts to particular schools, which in turn dole out the money to their neediest students based on their own internal calculations. Your financial aid officer can tell you if your online school participates in FSEOG, and whether or not you are eligible.

The Leveraging Educational Assistance Partnership (or LEAP) is another federally-funded grant program. Like the Pell Grant and FSEOG, LEAP is awarded based on demonstrated financial need.

Other grants are funded by the states. The easiest way to find out which grants your state offers is by visiting your state’s Department of Education website. Legal residence is necessary, usually for a minimum amount of time, even if your online school is actually located in a different state.

An online school will also have institutional grants. Some will be for recent high school graduates and first-semester students; others will be for returning students who have completed a certain number of hours or are enrolled in a particular degree program (such as pre-med or pre-law).

Public and private organizations are also excellent sources of funds for online education. Look especially at fraternal organizations, like the Masons, the Kiwanis, and the Eagles.

Since the 1970′s, more and more school grants are being offered to students of minority status. Grant programs that aid African-Americans, Hispanics, Native Americans, and Asian-Americans are on the rise, and the amount they fund are often very generous.

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