A Guide to Getting Federal Grants
One of the greatest advantages of an online degree program is greater affordability compared to a traditional on-campus college education. However, this difference in price comes mainly from the lack of lodging, transport and other miscellaneous fees when pursuing an online degree. Tuition fees for online degree programs often remain a significant financial burden for the less fortunate. Hence, a federal grant is an important consideration for prospective online college students. These grants are competitive and are usually awarded to the applicants with greatest financial need. Some grants may also be based on academic performance or offered only to students studying in fields that are suffering from a lack of practitioners. However, they can significantly lessen the financial burden of a college education as they are bond-free and do not need to be repaid. Here’s a quick guide to getting federal grants for your online degree program.
FAFSA Guidelines
Regardless of which federal grant you apply for, you will need to complete the Free Application for Student Aid (FAFSA) form which is readily available online. The application period usually lasts from January 1 to March 1, but you are advised to apply as early as possible to mitigate any unforeseen technical or administrative delays. This will require you to fill out basic personal details such as your name, address and social security number. It will also require you to declare your family income status which is often the basic determining factor behind a successful application. There are a number of online companies that will help you fill out your FAFSA for a small fee.
Take note that when you provide parental information on your FAFSA, there is a requirement that at least one of the parents whose information has been provided must sign to verify the details. It is hence advisable that you apply for a Federal Student Aid PIN on the Federal Student Aid PIN website to avoid hassles and speed up your application process. You may choose to create your own PIN or have the system generate a PIN which can then be emailed to you or sent to a private mailing address. Your parent can then use this PIN to electronically verify the FAFSA. Once all your details have been verified, you will receive a letter from the Student Aid Report listing the list of grants applicable to you.
Federal Pell Grants
The most common federal grant is the Federal Pell Grant, which is usually awarded to low-income students who have never obtained a professional or bachelor’s degree. The sole exception is for students enrolled in a post-baccalaureate teaching degree. The maximum award is $ 5550 per academic year. If you have a parent or guardian who passed away as a direct result of military service in Iraq or Afghanistan after September 11, 2011, you will automatically qualify for the full amount of financial aid. In more general cases, the value of the grant will depend on your income, your school-related costs and your student status (full-time students will receive larger grants than part-time students).
Grants can also be awarded based on your choice of degree. If you intend to pursue an online degree in computer science, science, mathematics, technology, engineering or an essential foreign language, you may also wish to consider the National SMART (Science and Mathematics Access to Retain Talent) grant. This grant is available to students who have already qualified for a Pell Grant and provides up to $ 4000 per year for your third and fourth years of college education. Combined with a Pell Grant, the National SMART grant may even fully cover the costs of your online degree program, allowing you to put financial woes aside and focus on your studies.
Finally, certain grants are awarded based on academic background. One such grant is the Academic Competitiveness Grant. This student aid is available to students who have graduated from a “rigorous” high school education program. The definition of rigorous is extremely complex. One definition is a high school program that has been designated by state education agencies or state-authorised regional education agencies and recognised by the Secretary of Education. The full list of rigorous high school programs is available online and is updated every year by the Secretary of Education. However, the student must not only have graduated, but also passed with flying colors. For example, graduates from the International Baccalaureate Diploma Programme must take at least two courses and graduate with a score of four points or more in the final course examinations. Like the National SMART Grant, the Academic Competitiveness Grant can be combined with a Pell Grant. It consists of a $ 750 award during the first year of college education and $ 1300 during the second year.
In recognition of the essential role that education plays in our societal, economic and political progress, the government has made available a vast range of federal grant programs for online college students. Don’t miss out – get federal sponsorship for your online degree program today!
