Does Financial Aid Cover the Cost of a Computer Science Degree?

Most students cannot pay for tuition out of pocket, so they require some form of financial aid. Students can use financial aid for most types of degrees, including computer science degrees.

Computer science majors can use various types of financial aid, such as scholarships, grants, and fellowships, to cover their tuition. Keep reading to learn more about how financial aid covers the cost of a computer science degree and examples of some programs available.

What Is the FAFSA Form?

FAFSA stands for Free Application for Federal Student Aid. It's a financial application for students seeking financial aid. They need to fill out this form to secure state and federal financial aid, as well as institutional and private financial aid.

To fill out the form, you'll need financial information from others in your household, including your parents or a spouse. The application process takes about an hour to complete. You can find the application at StudentAid.gov.

Eligibility

There are few eligibility requirements for filling out the FAFSA. You must be a U.S. citizen or an eligible non-citizen, and you must plan to attend an accredited college or university in the U.S.

The purpose of FAFSA is to determine your eligibility for different financial aid programs. For example, the Pell Grant is a federal grant distributed based on financial need. Your FAFSA application will determine if you're eligible and how much you're eligible for based on your income and other factors.

Does FAFSA Cover the Cost of a Computer?

The FAFSA is a financial aid application and doesn't pay for anything directly. However, the financial aid you secure because of the FAFSA could help you pay for a computer.

Each financial aid opportunity you accept has its own terms and conditions. Some are strictly for tuition costs, while you can use others for purchases like textbooks or computers.

Do You Have To Repay Student Loans From FAFSA?

Unless you enroll in a student loan forgiveness program, all student loans, even those secured through the FAFSA application, must be repaid. However, the terms and conditions of this repayment can vary.

For example, many student loans offer a deferment program, in which, you don't pay anything on the loans until after you graduate or have been out of school for a certain amount of time. Many also have income-based payment plans.

Types of Financial Aid for Computer Science Degrees

Computer science students can use many forms of financial aid to help them pay for their higher education. Below, we've broken down a few common types of financial aid assistance for computer science majors.

1. Explore Computer Science Scholarships

Scholarships are a great option, because, like grants, you don't need to pay them back. Colleges and universities, businesses, and nonprofit organizations offer scholarships for many reasons, including your field of study. Below, we've listed a couple of scholarship opportunities for computer science students.

Betty Stevens Frecknall Scholarship

The Foundation for IT Education is an organization committed to promoting information technology research and education. It offers the Betty Stevens Frecknall Scholarship program to computer science and information technology students.

This scholarship is for full-time undergraduate students. Students must be in an IT or computer science program at an accredited university and have a GPA of at least 3.0.

Generation Google Scholarship

The Generation Google Scholarship helps computer science majors excel in technology and become leaders in the field. This need-based scholarship provides $10,000 for students in full-time computer science or computer engineering bachelor's degree programs.

Students will also need to demonstrate a strong academic record and exemplify leadership and passion for improving the representation of underrepresented groups in computer science and technology. The application requires an essay.

2. Look for Computer Science Degree Fellowships

Fellowships are opportunities for students to receive funds for work or research. They're typically offered to graduate students; they include payment for tuition and a stipend for living expenses. We've listed a few computer science fellowships below.

Department of Energy Computational Science Graduate Fellowship

The Department of Energy Computational Science Graduate Fellowship is for students pursuing doctoral degrees in fields that use high-performance computing. The program allows students to focus on academics and research without excessive teaching or other departmental support activities.

The fellowship pays student tuition and provides an annual stipend of $45,000 with a $1,000 allowance for professional development. Students also get to participate in a 12-week practicum experience.

McKnight Doctoral Fellowships

The Florida Education Fund offers the McKnight Doctoral Fellowship Program to African American and Hispanic students. Students must be pursuing a PhD in one of the approved fields, which includes computer science.

To qualify, students must enroll in a degree program at one of the participating Florida universities. Each award provides annual tuition for three academic years, plus an annual stipend of $12,000.

3. Consider Student Loans

Most college students prefer to avoid student loans if possible, but sometimes, other forms of financial assistance don't cover tuition costs. In this case, student loans are often the only remaining option.

Both federal loans and private loans are available to students. Different lenders have different interest rates and deferment options. If you're unsure which loan option is the best for your situation, contact your financial aid office for assistance.

4. Discover Student Loan Forgiveness Programs

Student loan forgiveness programs help students pay back or pay off their student loan debt. These are most commonly offered by the federal government for federal student loans.

The most popular student loan forgiveness program is the Public Service Loan Forgiveness (PSLF). This program forgives loans for students working in government or nonprofit organizations who have made a certain number of payments.

5. Complete a Work-Study Program

Work-study programs are essentially part-time jobs through your college or a partnering organization. The money you earn goes toward your tuition.

You may be able to secure a work-study job that corresponds with your computer science major. For example, you may be able to work in your school's computer lab or IT department.