Can you get financial aid if you study for a degree online?

Many people decide to study for a degree online because they want to make a change in their life; usually this involves a change of career. Opting to study online means that you can obtain a degree at the same time as continuing to work full time and keeping up with all other aspects of life. If you are working full time then you may have some money available to put towards the cost of studying for a degree; but what if you have not got access to all of the funds you need?

You can take a look to see which course is best suited to your needs and how much it will cost to complete. Be it financial aid, student loans, or employer-sponsored programs, the costs for college has got to come from somewhere. Once you know the costs involved then you need to work out whether you have sufficient resources, and where you can potentially get help if you are short.

Means of getting financial aid if you are studying online

If you are studying for a degree via distance learning at a college then you need to speak to the financial aid unit at the college to see of you qualify for any aid. It’s worth noting that you will be expected to provide confirmation of your financial situation and of the outgoings you will encounter as a result of taking the course. You will also be required to provide a guarantor who will be expected to provide details of their final situation and income.

There is also a scheme called HECS-HELP which is available to students who enrol in Commonwealth supported places. There are criteria that you have to meet in order to qualify for this help. You should check out these criteria if you feel that this help may be applicable to you.

Getting help from your employer

If you already have a full time job, and are studying as a means of progressing your career, your employer may be willing to offer you some sort of financial support. Many employers are looking for qualified professionals to undertake roles in the business and would be happy to give the opportunity to someone whose work they have already seen and who they can trust to perform well. If you want to progress in your career it’s worth talking abut the possibilities with your manager or HR team, including the financial implications. You can provide them with details of the associated course costs by checking out providers such as Upskilled.

It’s worth stating that if you cannot get financial aid from anywhere else, to help you with studying for a degree, you may be able to get a bank loan for the additional costs. Student loans generally have lower interest rates, and more generous repayment terms, so you should always attempt to get financial aid from that source first. Your first step is to identify the course you want to take then sit down and realistically examine your finances to see what assistance you are going to need, if any. From there you can go on to examine your options, using our helpful tips.