Would you like to earn a college degree at home? Are you worried that the expense of college tuition will make it impossible for you to fulfill your dream? Even in today's dismal economy, financial aid and other creative economical options still make it possible for you to get a college degree online without taking out a second mortgage on your home.

One of the first steps to take after being accepted into an online university degree program is to contact the financial aid advisor. Advise him or her of your interest in receiving tuition assistance. The advisor will probably encourage you to complete a Free Application for Federal Student Aid (FAFSA).

Be aware of the deadlines for completion of this application. The June 30 deadline for the 2008-2009 academic year has already passed, but students who are enrolling in winter or spring quarter should still complete the application. Some schools do not offer scholarships to students who have not yet completed and submitted it.

The FAFSA is used to determine whether or not a student is eligible for federal aid grants. These grants are offered to students on the basis of financial need. The most well-known type of federal assistance available is the Pell Grant. Typically, only undergraduate students are eligible for this award.

Two other grants, the Academic Competitiveness Grant and the National SMART Grant are also available to students completing undergraduate college degree programs at accredited universities. Some students may be able to receive the Federal Educational Supplemental Opportunity Grant or participate in the Federal Work-Study Program as well.

The United States Government also offers educational loans called Stafford Loans or Plus Loans. Stafford Loans are available to students pursuing both undergraduate and graduate degrees. In comparison, Plus Loans are available only to undergraduate students who are working to earn a college degree. A third type of loan is called the Perkins Loan. This loan is available as well to both graduate and undergraduate students.

If you are not eligible for federal financial aid, don't be discouraged. Most lending institutions offer Guaranteed Student Loans, which is a type of educational loan offered to college students. If your credit rating is good or excellent (over 620), obtaining a student loan with a reasonable interest rate should not be too difficult. If you have poor credit, however, you may find it more difficult to secure a loan without a co-signer. Additionally, although most banks and credit unions recognize the value of online degree programs, check with the institution before signing the loan papers to be sure that your loan can be used for a distance degree program.

Some colleges offer private institutional loans as well, although the interest rates may be higher. Shop around and compare interest rates before deciding which option to choose. If the online degree university you choose to attend does offer private loans, your financial aid advisor should inform you of this. Check with him or her, however, to be sure.

A few top online schools offer distance education scholarships. These can be very helpful. Furthermore, although some traditional scholarships are still available only to students attending brick-and-mortar colleges, many more foundations are permitting scholarship use at degree online universities as well. Check the requirements before applying to be sure.

Although finding the money to earn a degree at home can be challenging, creative, persistent students can find a number of alternative methods to obtain tuition assistance. Don't pay more than you have to in order to obtain the adult college education you need to raise your family or advance your career. Get started today, and find out more about the variety of options available to hardworking students who want to get a college degree online.

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