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Financial Aid for Online Colleges: What You Need to Know

Earning a degree online is a way to maintain flexibility and save money. But you still might need help paying. Learn about financial aid for online colleges .

Attending an online university can be a great way to earn your degree while maintaining more flexibility in your schedule than a traditional school can offer. It can also save you a lot of money.

But chances are you’ll still want to secure financial aid in order to pay for your degree. Here’s what you need to know about financial aid and online colleges.

Financial aid for online degrees may work the same as financial aid for traditional on-campus schools; it just depends on whether the online degree program is accredited.

Only accredited schools can provide federal financial aid for their students. To see if a school is accredited, go to the official Database of Accredited Postsecondary Institutions and Programs. If you don’t see the school on the list, that means it does not have accreditation and you won’t qualify for federal financial aid.

Many certificate programs and technical schools, including software boot camps, are not accredited. That means students will not be eligible for financial aid.

Types of Financial Aid

Everything FAFSA

The Free Application for Federal Student Aid (FAFSA) is an application used by colleges, universities and career schools for awarding federal, state and college-funded financial aid.