Financing for Distance Education

Time to Pay Up

When you finally get into the college or university of your dreams you couldn’t more excited. That is until you find out just how much it’s going to cost. Tuition costs are rising every year and are showing no signs of stopping. What are some of things you can do to get proper financing? First, you should fill out the Free Application for Federal Aid (FAFSA) and look for other forms of government funding. They provide Federal funds as long as you are attending any accredited college. Next, you should figure out which scholarships you qualify for at your school. As a last resort go to private funding as means of financing your education.

Part-Time and Full-Time Federal Funding

To be considered for any type of funding, you must be at least a part time student. Even if you are working a full 40 hours a week, you should be able to manage it. Working full time and being a full time student can be quite strenuous, however. It’s best to know just how much time you have to dedicate to school before making that full commitment. Distance learning is a great tool to help those with full time careers. This is a program where you take classes over the internet. It can save you hours on drive time each week which can be put into studying or spending what little time you have with your family.

For those who are full time students, it shouldn’t be nearly as difficult to manage your studies seeing as how being a student is your job! There is more funding out there for full time students, so be sure to know your options.

Alternative Loans

There are some circumstances where students may not qualify for federal aid or does not qualify for enough to cover the full cost of school. Alternative loans are a great way to finance that last bit of tuition after you’ve gotten all you can from the Federal government. Also called private student loans, these are given out by banks and other private institutions to students in every major. If you have good credit, it shouldn’t be difficult to receive this financing from the bank. However, if you have bad credit or just aren’t sure of your credit standing, you may need a cosigner such as your parent or guardian to sign for you. As mentioned before, this should be a last resort after all federal funding has been awarded.

Unaccredited Education Funding

There are certain online colleges and other schools with certification such as ISO 9000 and MCSE which do not qualify for student loans. If this is the case, taking out a student loan from a bank will be your best option for financing. Again, they size of your loan depends on either you or your cosigner’s credit score. Schools with these certifications can be very costly; however, it does not take nearly as long to receive a degree as it would from a more traditional course.