With so many colleges jumping into the online-learning game, you might be wondering if it's possible to nab a college for free.
We're sorry to say that, for now, the answer is a qualified no. That is, there aren't any schools currently offering bona fide degrees at no charge. However, you should be able to get federal financial aid for most accredited online schools. If you qualify, you could end up paying little to nothing out-of-pocket.
Do online schools accept Pell Grants?
Yes, most accredited online schools accept Pell Grants and other forms of financial aid.
Get Free Information For Your Degree
FAFSA, otherwise known as the Free Application for Federal Student Aid, is the main way to get federal aid. And yes, you can and should use it to get financial aid for online education.
Filling out the FAFSA qualifies for you federal grants and loans, as well as some state and school-specific forms of aid. Talk to the financial aid office at the school you're applying to, or check out our handy question-by-question guide for filling out the FAFSA.
Are there loans for online colleges?
Yes, online colleges generally have the same financial aid options as traditional colleges, including student loans.
Before taking out any loans, fill out the FAFSA to find out if you qualify for any "free money" from the federal government in the form of Pell Grants or other awards. If those awards aren't enough to cover your tuition, fees, and other expenses, it's generally best to accept federal loans before turning to private loans. Federal loans often have better interest rates and flexible repayment terms if you're unable to make your monthly payment.
Trish Sammer is Nitro's managing editor. Her work has appeared in Woman’s Day, Redbook, Huffington Post, TechCrunch, and Forbes. She has also written for various corporate clients, including the tech giant SAP, The Franklin Institute, and PSE&G. When Trish isn’t busy acting as a writing ninja for other people, you can find her … well, writing about other stuff, like divorce and blended family life. She lives outside of Philadelphia with her husband, their combined brood, and the world’s laziest dog. Read more by Trish Sammer