Online college studies are equally expensive as the other schools and there are many grants for online college, too. Covering the cost of these schools can sometimes be difficult for the parents. You will save money from other stuff like not paying for transportation or living apartments, food, etc. For this purpose, I have two words for you: Pell Grants. These grants are offered by the Federal Government in order to meet the needs of those students who have financial difficulties. All students who have enrolled for online studies might be eligible for Pell Grants.
The important thing for these grants is that they don’t require to be repaid. The Pell Grant program is secured and financed by the US Department of Education.
Pell Grant Eligibility
Students are eligible for this program if the college is accredited by an institution recognized by the US Government. Don’t be confused yet, because some of the schools don’t meet the criteria for accreditation. If you have picked your online college and you need Pell Grants to finance your education, see if it’s accredited and recognized by the US Department of Education. You can find this information in the database of accredited institutions at ope.ed.gov. If you’re online college or program is on the list, than you have met the requirements for receiving Pell Grants.
How to get it?
The process for getting grants for online college is almost the same as getting grants for other colleges. You need to open the FAFSA application which is available through its official website. Financial help that includes Pell Grants too are awarded only to those students who need these grants and calculated by FAFSA. Those students, whose parents have low-income, will be awarded with these grants. You must follow the deadlines for submission on your school. Most of them close on June 30, but make sure you double-check that.
How much is Pell Grants giving?
The amount of money that you will receive from these grants for online college depends on your financial status. It can offer up to $5,645 for each year, but this level can change each year. Pell Grants have different grants under his program. Students can receive up to $4,000 per year with its Federal Supplemental Opportunity Educational Grants. Its other grant program called Academic Competitiveness covers $1,300 per year and it’s awarded for those who have bigger income than the others.
These grants are usually awarded to those students who haven’t earned a professional or bachelor degree. You won’t be eligible for receiving it if you have been penalized by penal or federal institution. You will be declined if you have been a subject of some offenses which aren’t allowed by the federal government. As you can see the requirements for getting grants for online college aren’t difficult and you can be easily marked as eligible.
For the end, the amount you are getting from another student aid that you have been qualified, won’t affect getting the federal Pell Grant.