As students search and evaluate online schools looking for the best degree program for them, they should carefully examine the college scholarships offered. These awards can make the best online colleges affordable to all who want to earn a respected degree.
Scholarship Categories
There are two general categories of scholarships:
Proprietary scholarships are offered by the online schools themselves. Using their own money, endowment funds, or partnerships forged with businesses, non-profit entities, or other supporters, they decide which students receive these awards and the amount offered.
Third-party scholarships are offered by hundreds of sources directly to students. Recipients can select the accredited online schools of their choice. In many cases, students may earn multiple different awards, which combine to meet tuition needs.
Proprietary scholarships are typically offered to students based on their prior academic education achievements and/or need. Many online schools partner with businesses, large and small, to create scholarships for their students on most degree programs. They also often create program-specific awards for some majors. For example, they might have one or more scholarships specifically for students in the nursing, accounting, IT, or MBA programs.
Third-party scholarships usually fall into one of three types:
- Those based on previous academic achievement in high school and excellent entrance examination scores.
- Those based on student need, even with modest academic performance.
- Those based on ethnic, religious, associational, geography, related groups, or other criteria.
Finding Third-Party Scholarships
Finding these scholarships can sometimes prove challenging to students. Many of these scholarships are not heavily publicized or promoted. For example, there are substantial annual scholarships offered by the Ayn Rand Institute. The best essays, related to some of her novels, written by high school and college students are eligible for total awards that approach $100,000 per year.
Many third-party scholarships are more modest amounts ($250 to $5,000). The good news: Students can apply for all awards for which they qualify. Therefore, this education assistance may amount to a variety of smaller awards that, when added together, form a substantial contribution to tuition and other online school costs.
Scholarships and Accreditation
Be sure the online schools being considered are properly accredited. Few scholarships are typically available to students of non-accredited institutions. Examine online school websites carefully, particularly their scholarship page. The top online schools will have links to all types of scholarships. But, don't stop there. Locate some of the many websites that have assembled data on hundreds of lesser known scholarship opportunities. Students can often apply directly online, saving the time and cost of snail mail.
Achieve Affordability of Online Schools With Scholarships
Earning an online degree will be more affordable to all students. Good online schools are already more affordable than on-campus institutions, since there are no dormitory, commuting, or food expenses. Finding scholarships that fit student needs and achievement often become excellent career builders. Prospective students should use the Internet to find the online schools and scholarships that excite and motivate them to action.
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