Essential Guide to Online College Grants You Should Know

Financial aid in the form of college grants provides students with a one-time sum to cover educational expenses, awarded based on academic achievement or financial need. While online colleges may have different course structures, their grant programs mirror traditional institutions, often with added benefits. Eligibility criteria are similar, with some unique perks for online students. Here are key types of online college grants that every student should be aware of.

Need-based Grants
These grants are awarded to students who lack the financial resources to pay for college. They can be full or partial, depending on the student’s financial situation. The key factor is the difference between the Expected Family Contribution (EFC) and overall attendance costs. Applying through the FAFSA® form is typically the first step to qualify.

Merit-based Grants
Contrary to popular belief, only students with straight-A records are not the only recipients of merit-based grants. Extracurricular achievements, athletic skills, or artistic talents can also qualify students for these awards. Examples include athletic scholarships, artistic grants, and tuition waivers provided for exceptional performance outside academics.

Departmental Academic Grants
Students pursuing a specific major can access departmental grants. The chances increase if the student is enrolled in the same college or university. For instance, aspiring accounting students should reach out to relevant faculty or departmental offices to learn about available grants and whether master's programs are included.

Corporate Sponsored Grants
Many large corporations offer grants to students, regardless of current employment status. These grants often target employees, spouses, and children of the company. Examples include the Coca-Cola Leaders of Promise or the Burger King℠ Scholars Program, which are available for online college students. Specific qualifications depend on each company's policies.

Professional Association Grants
Many professional organizations allocate funds for scholarships and grants to support members’ education and career development. These may include networking opportunities, mentorships, and financial aid, often available through online platforms tailored to your career path.