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How to Get Financial Aid for Your Online Education?

Time has changed and over the years education is no more restricted to pen, paper, classrooms, blackboards etc. Today when time is deemed to be more crucial than money and people in even in remote corners of the world crave to acquire education and its benefits, online education has definitely come up as a desired boon.

Online education is education via the medium of Internet that can be gained synchronously or asynchronously. At present online education is far superior from the conventional mode of learning (i.e. going to universities, attending classes and so forth) in many ways. Online education is not just a means to make judicious use of time but it is also acquiring the best possible degree in academics anytime anywhere.

Though merits of online education outweigh the classroom education in many respects, its greatest drawback is its cost. Online education is significantly expensive in comparison to usual university education. This is precisely the reason that every individual cannot dream of getting an online degree.

But with a surge in enticement for online education some universities imparting it have devised several ways to financially assist the aspirants. The foremost and ideal step in this direction is education loans and giving scholarships.

Whereas loan or arranging finance for online education is concerned the foremost step is to fill up your FASFA i.e. Free Application for Federal Student Aid. The FASFA is an application published by the Department of Education. This application gives the aspirant an idea of the kind of funding he or she is eligible for. Once the application form is properly filled and sent, wait for the confirmation. Usually receiving a confirmation letter is a matter of one or two days. The confirmation letter will brief you about the kind and number of programs you meant for you. This process is quite simple and easy to follow.

After acquiring the confirmation letter, contact the Financial Aid office of the desired college/s. The financial aid officer there will explain you the various types of financial aid packages available that vary from work-study programs to government aid. He will lend you the requisite forms for different colleges. Finally it is at your discretion which college to opt for though the officer will definitely guide you in your selection.

Once the loan application is completed, it will be sent to the school for the process of verification and processing. Usually banks do not fund the students directly but via the concerned institution. The bank sends the money at the commencement of the session.

This is helpful to both the student and the institution.

Apart from loans there are scholarship programs such as the Hope Scholarship Tax Credit that offers a maximum 100% on the first $1000 and 50% on the second $1000 spent for educational purposes. Similarly the Lifetime Learning Tax Credit, the Higher Education Tuition and Fees Deduction are other means to save money on your online educational expenses.

How to Get Financial Aid for College Education for Single Mothers

Single mothers and mothers in the US can provide their family and children with a better future by securing a higher paid job. Well, this is possible only with the right kind of degree in hand earned at colleges. However, the road to success through education is quite tough as the costs associated with the higher studies at colleges are quite high, forcing many single mothers in the US to drop their higher studies in midway. High expenses apart, the additional crises of debt burden are there too, making college education an out of reach substance for single moms and mothers. Yet, there is a hope as the Obama administration has revamped grant programs for women, especially for single mothers or moms. This initiative has been taken towards empowering women and single mothers in the US so as to find them a better opportunity and make their lives better, leaving past the adversities behind.

The Obama Single Mother Grant is one of the best ways to help with college bills to avoid financial crises. Single mothers or mothers from low-income or no-income households can receive up to $5,000 as an educational benefit through The Federal Pell Grant program, also known as the Single Mother Grant. The US Department of Education monitors the entire program and pays out the financial assistance for higher studies for mothers through state-run organizations, participating colleges, action community agencies, charitable organizations and non-profit organizations. Always remember that female participants can easily receive free financial assistance through Obama approved government grant compared to male participants.

Considering Pell Grant, it is a need-based program; hence, it always aims at favoring the needs of single mothers. The federal Pell Grant offers you a great opportunity to escape the higher repayment rates of loans. Besides, it does not have to be repaid like loans. Earlier known as Basic Education Opportunity Grants (BEOGs), Pell Grant offers around $5,500 to the eligible single mothers for college tuition fees, as well as study materials and housing expenses.

How to Apply for the Federal Pell Grant

Remember, you are not entitled to receiving the Pell Grant for more than one college you want to pursue your higher studies. In order to receive the financial assistance, it is essential to complete the Free Application for Federal Student Aid, or (FAFSA). A proper application process is not complete without the filing of FAFSA. Once the FAFSA is filed, your financial needs are evaluated based on the information provided on the FAFSA. After the FAFSA gets processed, you are likely to receive a Student Aid Report, containing your eligibility for the Federal Pell Grant.

If you are interested, you can contact your state agency to apply for the Pell Grant or visit https://fafsa.ed.gov/options.htm to apply online. Though it is a time-consuming process, benefits for college education earned through Pell grant is matchless.