Massachusetts Online Education: Obtaining Financial Aid
Paying for college these days can be tough on one's wallet, and distance learning classes are no exception. However, securing financial aid to pay for online classes is easier than ever.
In the past, students looking to pursue online education might have thought that because of the atypical nature of distance learning, federal funds were not available to assist with tuition. However, with more and more programs being offered online, the U.S. Department of Education has recognized the need to provide financial aid to cover online studies.
Financial aid eligibility - the school
While researching the numerous online education opportunities available to you, one of the first steps you should take is finding out if the institution in which you are interested is eligible to receive federal financial aid for its students.
In the past, it was a little tricky to determine whether a school offering online courses was eligible to receive federal funds. The "50-percent rule" as it was known stated that an institution had to offer at least 50 percent of its courses on site versus online in order for its students to receive financial assistance from the government. This rule essentially made a large number of institutions that offered most, if not all, of their courses online ineligible.
However, the federal government recognized online education's growth in both popularity and legitimacy and passed the Higher Education Reconciliation Act in 2005. This legislation in essence voided the "50-percent rule" and opened up federal student aid, or FSA, eligibility to a number of online-only institutions.
To be considered an eligible FSA program, the institution offering the course must be accredited by an accrediting agency recognized by the U.S. Department of Education specifically for the accreditation of distance education.
The easiest way to find out if a program is eligible for financial aid is to check with the institution offering the program of study, either via the institution's website or by calling the school directly. Most schools, including those that offer all courses online, will point out on their websites whether or not they are eligible to receive financial aid.
By completing our online form, you will receive information on a number of schools offering distance learning courses and will be able to determine whether those schools in which you are interested are FSA eligible.
Financial aid eligibility - the student
Those hoping to receive financial aid to pay for college also should make sure they themselves are eligible.
Not sure whether you qualify for federal student aid? There are six basic requirements a prospective student must meet in order to receive financial aid from the government:
- Demonstrate a financial need.
- Be a U.S. citizen or an eligible non-citizen with a valid Social Security number.
- Work toward a degree or certificate in an eligible program.
- Show that he or she is qualified to obtain a postsecondary education by having a high school diploma for a GED certificate, passing an approved ability-to-benefit test, or fulfilling the requirements of a high school education in a home-school setting approved under state law.
- Register with the Selective Service (for males between the ages of 18 and 25 years).
- Maintain a minimum level of academic progress once he or she is in school.
Still not sure whether you are eligible for financial assistance? More information on FSA requirements for both students and institutions can be found on the U.S. Department of Education's website Student Aid on the Web. Our frequently asked questions are also available for you to use to get a better understanding about online education.
