Will FAFSA Pay for Online College?

Regardless of whether you attend classes online or on campus, a lot of students' first concern is affording tuition.

Affordability is one of the biggest barriers to higher education, and colleges are attempting to combat this by lowering the cost of online classes compared to traditional ones when possible.

But what about financial aid? Will FAFSA pay for online college, or is it only good for traditional schools?

Luckily for online students, the Free Application for Federal Student Aid, or FAFSA, absolutely does include financial aid options that online students are eligible for if they're attending an accredited college.

We'll discuss what they are, and how you can apply online for financial aid through the FAFSA today.

Ways You Can Use the FAFSA to Pay For Online Education

The main ways that online students can use the FAFSA to pay for online college include student loans, scholarships, grants, and even work-study opportunities for some students who are local to their colleges.

You can learn more about each type of aid below.

Loans

Through the FAFSA, online students have access to loans such as unsubsidized loans, subsidized loans, and direct consolidation loans.

Subsidized loans are for undergraduate students in financial need, and do not accrue interest while you're in school.

Unsubsidized loans are available to graduate and undergraduate students, aren't based on financial need and do accrue interest while you're in school.

Direct consolidation loans allow you to combine multiple federal student loans to pay a single monthly payment.

Just like traditional students, online students can use these loans to make up the difference between other forms of financial aid and their total tuition cost.

Always consider your other forms of aid before attempting to get a federal student loan through the FAFSA.

Scholarships and Grants

Scholarships and grants are available to all students who meet the requirements for each award, regardless of whether they attend their school online or not.

If you're a student with a great academic background or demonstrated financial need, you can get a scholarship or grant through the FAFSA.

While many federal scholarships and grants, such as the Pell Grant, are based on financial need, others are based on academic or community achievements.

Some scholarships offered through the FAFSA may have additional requirements, such as submitting transcripts or writing an essay, that should be taken into account.

Students can also apply for scholarships offered by private or nonprofit businesses, but these scholarships are usually not offered through the FAFSA.

Possible Work-Study Opportunities

While work-study opportunities are most often available to on-campus students, online students who live near the college they're attending can still use work-study opportunities offered by the FAFSA if they're willing to go to campus or a local business affiliated with their school in person.

Work-study allows students to earn experience and money for college expenses in a position that considers their class needs and schedule � often, work-study positions are also related to a student's major, as well.

So if online college is simply a matter of convenience rather than necessity, you might want to look into work-study through the FAFSA and your college.

How to Apply Online so the FAFSA Will Pay For Online College

With the question 'Will FAFSA pay for online college' answered and the types of financial aid you'll be eligible for discussed, it's time to find out how to fill out the FAFSA as an online college student.

Check out the steps you need to know below.

Gather Your Documents

Before you even start filling out the FAFSA, you need to gather some important finance and identity-related documents.

These documents can include:

• Your social security number (and your parents, if needed)
• Your driver's license, if you have one
• Your tax information from the most recent year (and your parents, if needed)
• Current balances of cash, checking accounts, and savings accounts
• Net worth of investments, businesses, or farms, and any child support you've received

Starting Your Form and Getting Help

You can access the FAFSA online through the fafsa.gov website.

If you need help filling out your basic personal information, such as your dependency status or your financial information, you have plenty of options.

You can chat with a virtual assistant, Adam, click on the question marks next to FAFSA questions for more information, or contact the Federal Student Aid Information Center for assistance while filling out the FAFSA online.

Just follow the prompts to enter your personal, financial, and academic information, read over the information you receive carefully, and get ready to submit your application.

Signing and Submitting Your FAFSA

Once you've done everything you can, electronically sign the form to acknowledge its terms and conditions, then submit it.

While your role in filling out the FAFSA will be complete, your FAFSA still isn't done until anyone else who has to contribute � your parents, schools that need to submit transcripts, and anyone else involved in the FAFSA � also signs it.

Once everyone has signed the FAFSA, it will be submitted for processing, and you simply have to wait to see and accept your aid.

If more information is needed, you'll be contacted separately for it.

Use Financial Aid to Afford Online College Today

Now that we've answered the question of 'Will FAFSA pay for online college' and you've learned about ways to apply for and take advantage of different forms of financial aid, it's time for you to use the FAFSA to fund your online college experience today so you can earn your degree and start working in your chosen career tomorrow.